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The order of repayment. In the event of bankruptcy, senior debt must be repaid before subordinated debt is repaid.
Copyright © 2012, Campbell R. Harvey. All Rights Reserved.

Absolute Priority

A rule stating that, in liquidation, certain creditors must be satisfied in full before any other creditors receive any payments. That is, in the liquidation of a company, the absolute priority rule states that holders of secured debt must be paid before holders of unsecured debt. Holders of unsecured debt have precedence over preferred shareholders, and, finally, preferred shareholders must be satisfied before common shareholders.
Farlex Financial Dictionary. © 2012 Farlex, Inc. All Rights Reserved


The condition or status of a security that has priority over other securities by the same issuer with respect to the payment of income (that is, interest or dividends) and repayment of principal. As an example, for the same issuer, bonds have seniority over preferred stock and preferred stock has priority over common stock. See also junior security.
Wall Street Words: An A to Z Guide to Investment Terms for Today's Investor by David L. Scott. Copyright © 2003 by Houghton Mifflin Company. Published by Houghton Mifflin Company. All rights reserved. All rights reserved.
References in periodicals archive ?
Offensive Player of the Year, senior offensive lineman Mike McCabe (he's the first offensive lineman to win player of the year honors), Holy Cross; Defensive Player of the Year, senior linebacker Nick DiAntonio (Milford), Assumption; Special Teams Player of the Year, senior Ernie Mello, WPI; Offensive Freshman of the Year, quarterback Kevin Bumpus, Assumption; Defensive Freshman of the Year, defensive end Tyler Asum (Milford), Worcester State; Coach of the Year, Brien Cullen, Worcester State.
The report further notes that the percentage of seniors who go online jumped by 47% between 2000 and 2004.
Haber believes that the dramatic increase in seniors turning to reverse mortgages is a result of traditional retirements tools--such as IRAs, pensions, and 401(k)s--not providing sufficient income to help fund everyday living expenses and healthcare requirements.
At the same time, Jarvis sought to boost United Seniors' fundraising power by filling its board with powerful Washington players.
This is especially true for in-demand senior administrators who have lots of options.
In addition, the editorial staff reviewed all surveys and performed follow-up validation including contacting corporate diversity officers, senior managers, minority suppliers, and third-party experts.
Senior Brass: Jessica Lordi, Pennsylvania; Kevin Eisensmith, Teacher
Media seeking more information about the Senior Leader Development office should contact Lt.
Other suggestions, from Making Your Web Site Senior Friendly by the National Institute on Aging and the National Library of Medicine (NIA/NLM), include double-spacing all body text, using left justification and avoiding underscoring except for links.
Besides paying special tribute to our seniors and their Dads, this film serves as a great motivator for the final game.
San Fabian, Pangasinan - kindergarten to senior high school (public and private)
Section 9 (3) of the Act states: 'The senior citizens shall be allowed the following privileges on the basis of senior citizen card: free of charge entry to public museums, libraries, parks and recreation facilities; financial supports to deserving senior citizens; separate counters for senior citizens in hospitals; concession in medical and medicine charges; separate medical wards; and membership of organization of senior citizens corps.'