More importantly, the agreement gives certain rights to the mezzanine financing provider in the event of a borrower default. (propertymetrics.com)
Two of the most common are rooted in the concept of VA entitlement, which is basically the amount of money the VA pledges to guarantee in the event of borrower default. (veteransunited.com)
In the event of borrower default, owners of subordinated debt will not be paid out until owners of higher - ranking debt are paid in full. (schroders.com)