Second Lien
Secured debt whose claim on the collateral ranks behind the first lien under an intercreditor agreement. It recovers from collateral only after the first lien is paid in full, and any shortfall becomes an unsecured deficiency claim alongside the notes and trade creditors.
Keep reading
Credit and restructuring modelsRelated Credit terms
Go further than reading
The written material is free. These are the ways to get it applied to your own work.
CV Review by a Human
Written margin-note feedback on structure, impact bullets and ATS-readability. Reviewed by Suro, not an AI score.
$25 48h turnaround
Cover Letter Review by a Human
Line-by-line review of argument, tailoring and tone, with a rewritten opening as a worked example.
$50 48h turnaround
L3VLUP Pro
The subscription: personalised alerts, Apply Packs, every answer marked, full history and the whole research library.
$25 /month
Browse the full glossary — 329 finance recruiting and technical terms, in plain English.