Replacement Property.

Single purpose entityor special purpose entity or “SPE” — an entity (typically but not always a limited liability company) designed to provide bankruptcy-remote protections for a lender. Submortgage — an arrangement in which a mortgage lender pledges a mortgage as collateral for his/her own loan. Subordinate the fee — the act of a landlord property owner granting to the tenant’s lender a right to foreclose the landlord’s interest, upon default of the tenant under its loan agreements, sometimes in return for a fee. Subordination — the concept of agreeing to make an otherwise senior interest junior (or subordinate) to an interest which otherwise would be a