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Intercreditor deed
Any deed made between different creditors (or groups of creditors, such as different syndicates) of a company.
Such a document may deal with any issues which those creditors seek to regulate among themselves, but commonly covers such issues as priorities of debts, (perhaps prior to insolvency as well as in the event of insolvency of the debtor), priorities of security, agreement on the application of proceeds of sale of assets belonging to the debtor, rights (or restrictions on rights) to take action against the debtor or its assets, commitments relating to provision of further funding and/or provision of information, and rights (or restrictions on rights) to adjust the existing contractual arrangements with the debtor.
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