Subordinate definition

Subordinate means, with respect to an obligation (the “Subordinated Obligation”) and another obligation of the obligor thereon to which such obligation is being compared (the “Senior Obligation”), a contractual, trust or similar arrangement (without regard to the existence of preferred creditors arising by operation of law or to collateral, credit support, lien or other credit enhancement arrangements or provisions regarding the application of proceeds of any of the foregoing) providing that (i) upon the liquidation, dissolution, reorganization or winding up of the obligor, claims of the holders of the Senior Obligation will be satisfied prior to the claims of the holders of the Subordinated Obligation or (ii) the holders of the Subordinated Obligation will not be entitled to receive or retain payments in respect of their claims against the obligor at any time that the obligor is in payment arrears or is otherwise in default under the Senior Obligation.

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Subordinate means any individual who engages in the Regulated Practice under the Direct Supervision of a Professional Registrant.

Subordinate means (i) one or more but less than a quorum of the members of a board constituting

Examples of Subordinate in a sentence

• Subordinate Mortgagee acknowledges that Funding Lender may grant or refuse consent to Subordinate Mortgagee’s Enforcement Action in Funding ▇▇▇▇▇▇’s sole and absolute discretion.

• Failure of Funding Lender to send Notice to Subordinate Mortgagee will not prevent the exercise of Funding ▇▇▇▇▇▇’s rights and remedies under the Senior Loan Documents.

• At the expiration of such 90-day period or such longer period as provided in Section 5(a) and, subject to Funding Lender’s right to cure set forth in Section 5(a), Subordinate Mortgagee may commence any Enforcement Action.

• Any Enforcement Action on the part of Subordinate Mortgagee will be subject to the provisions of this Agreement.

• Neither giving nor failing to give a Notice to Funding Lender or Subordinate Mortgagee pursuant to this Section 4(c) will affect the validity of any Notice given by Funding Lender or Subordinate Mortgagee to Borrower, as between Borrower and such of Funding Lender or Subordinate Mortgagee as provided the Notice to Borrower.

More Definitions of Subordinate

Subordinate means, after the adoption of a Supplemental Resolution to provide for the creation of a subordinate class of Bonds or Other Obligations that is subordinate to Senior Bonds and prior to Junior Subordinate Bonds, (1) when used with respect to a Bond, a Bond of a series designated as such pursuant to the Supplemental Resolution pursuant to which such series of Bonds is issued, (2) when used with respect to a Credit Enhancement Facility, a Credit Enhancement Facility designated as such pursuant to the Supplemental Resolution pursuant to which such Credit Enhancement Facility is obtained by the State, and (3) when used with respect to a Swap Agreement, a Swap Agreement designated as such pursuant to the Supplemental Resolution pursuant to which such Swap Agreement is obtained by the State.

Subordinate means another official or employee over whose activities an official or employee has direction, supervision, or control.

Subordinate means any individual who assists in the practice of geology by a registered professional geologist without assuming the responsible charge of the work.

Subordinate means any person who assists in the practice of

Subordinate means an employee who performs work

Subordinate means, (a) in respect of an Auction, the Subordinate Auction and, (b) in respect of a Transaction, a Covered Subordinate Transaction.

Subordinate means (i) one or more but less than a quorum of the members of a board constituting an agency, (ii) one or more of its staff members or employees, or (iii) any other person or persons designated by the agency to act in its behalf.