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Senior personal debt enjoys priority when it comes to repayment in excess of all other kinds of finance. Mezzanine financial debt is subordinated when it comes to repayment to senior personal debt but ranks higher than fairness each for distributions of no cost profit the so-known as “income waterfall” (i.

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secured passions around all of the project belongings (like and especially all contracts) to help the lenders to consider remedial steps In the event the PPP Organization has unsuccessful;