Real Estate Subordination Agreement Template for Saudi Arabia

1. Further Assurance: Additional commitments to take necessary actions to give effect to the subordination, used when specific future actions may be needed

2. Currency Provisions: Provisions dealing with multiple currencies, needed when the secured obligations are in different currencies

3. Power of Attorney: Authorization for the senior creditor to act on behalf of the subordinated creditor in certain circumstances, used in more complex arrangements

4. Assignment and Transfer: Provisions governing the ability to transfer rights under the agreement, needed when transfers are contemplated

5. Shariah Compliance: Specific provisions confirming compliance with Islamic law principles, used when parties require explicit confirmation

6. Language: Provisions specifying which language version prevails, needed when dual-language versions are prepared

1. Property Description: Detailed legal description of the real estate property subject to the security interests

2. Existing Security Documents: List and copies of the security documents being subordinated and those taking priority

3. Form of Notice: Template for notices to be given to relevant authorities regarding the subordination

4. Registration Requirements: Checklist of registration requirements and forms for Saudi authorities

5. Powers of Attorney: Forms of any required powers of attorney

6. Corporate Authorizations: Copies of corporate approvals and authorizations for entering into the agreement