What is intercreditor agreement?
Intercreditor Agreement: A written agreement between two or more lenders defining who has rights to which collateral first.
How it works
Required when you have both a bank line and a factor, or an equipment lender and an ABL. Common structure: bank/ABL on AR + inventory, equipment lender on machinery.
Where you will run into it
Intercreditor Agreement comes up most often in asset-based lending (abl) conversations. See how asset-based lending (abl) works, including real cost ranges and timelines.
Related terms
Intercreditor Agreement questions
A written agreement between two or more lenders defining who has rights to which collateral first.
Required when you have both a bank line and a factor, or an equipment lender and an ABL. Common structure: bank/ABL on AR + inventory, equipment lender on machinery.
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