Lien Subordination Agreement Template for Philippines

1. Additional Security Interests: Required when there are multiple properties or types of collateral involved, detailing how subordination applies to each

2. Inter-creditor Provisions: Needed when there are multiple subordinate lienholders, establishing their respective rights and priorities

3. Future Advances: Include when the senior debt may increase through future advances, specifying how these will be treated under the subordination

4. Assignment and Transfer: Include when parties anticipate potential transfers of the debt or security interests

5. Insurance and Condemnation Proceeds: Required when specific arrangements for insurance or condemnation proceeds distribution are needed

6. Registration and Perfection: Include when specific actions are required to register or perfect the subordination arrangement

1. Schedule A - Property Description: Detailed legal description of the property or properties subject to the liens

2. Schedule B - Senior Debt Documents: List and details of all documents evidencing the senior debt and security

3. Schedule C - Subordinated Debt Documents: List and details of all documents evidencing the subordinated debt and security

4. Schedule D - Existing Liens: Details of all existing liens, including registration numbers and dates

5. Appendix 1 - Form of Notice: Standard form for any notices required under the agreement

6. Appendix 2 - Registration Requirements: Specific requirements for registering the subordination with relevant authorities