This three-party agreement is made among a debtor and two of its secured creditors whereby one creditor subordinates (agrees that the other crediotr willl have priority with regard to the secured asset) its security to the other. However, in this agreement, the first creditor will retain priority over the second creditor with regard to inventory.

This form includes special formatting features to assist you in completing the agreement.

This form can be used in the following provinces: Alberta, British Columbia, Manitoba, New Brunswick, Newfoundland and Labrador, Northwest Territories, Nova Scotia, Nunavut, Ontario, Prince Edward Island, Saskatchewan and Yukon.