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In this episode of Wall Street Words, Todd Alt discusses the term "subordination agreement." This agreement is critical among creditors, particularly for senior creditors who are allowing companies to borrow additional funds. It ensures that any new loans are acknowledged as subordinate to existing debts, clarifying the order of payment in the event of liquidation or bankruptcy. Subordination agreements play a vital role in defining claims on assets and understanding capital structure when lending to companies. Alt emphasizes the importance of grasping these complex financial instruments to know one’s position in terms of subordination.
