What is intercreditor agreement?
An agreement between the senior lender and a junior lender (such as a mezzanine lender) that governs payment priority, foreclosure rights, cure periods, notices, and control if the borrower defaults.
Where you will use it: this term comes up in the Real Estate Finance course, and the full course glossary collects every term in one place.
Related terms
From the free Real Estate Finance course by Devon Coombs, CPA, MBA.