The International Bank Account Number (IBAN) is an internationally agreed system of identifying bank accounts across national borders to facilitate the communication and processing of cross border transactions with a reduced risk of transcription errors.he Basic Bank Account Number (BBAN) format is decided by the national central bank or designated payment authority of each country. There is no consistency between the formats adopted. The national authority may register its BBAN format with SWIFT, but is not obliged to do so. It may adopt IBAN without registration.
Payment subordination allows the senior creditor the right to be paid first from all assets of the debtor or any other obligor of the debtor, regardless whether such assets constitute collateral security. The amount owed to the senior lender drives payment subordination terms, not the value of the pledged collateral. Provisions in the intercreditor agreement typically require all parties to pay-over to the senior creditor or its agent any proceeds obtained from shared collateral.
A Sublease Agreement is a contract used by a tenant to lease a portion or the entire premises they are renting to a third party for the remainder or even a portion of the remaining lease term. With this kind of agreement, the original lessee is both a tenant and a landlord/lessor. Some leases prohibit the premises from being sublet. There are both residential sublease agreements as well as commercial sublease agreements. The original lessor will remain resposible to the original landlord. Definition for Sublease Agreement or sublet.