An obligation may be issued as subordinated to performance of another obligation of the person obligated, or a creditor may subordinate its right to performance of an obligation by agreement with either the person obligated or another creditor of the person obligated. Subordination does not create a security interest as against either the common debtor or a subordinated creditor.
Structure Delaware Code
Part 3. Territorial Applicability and General Rules
§ 1-301. Territorial applicability; parties' power to choose applicable law.
§ 1-302. Variation by agreement.
§ 1-303. Course of performance, course of dealing, and usage of trade.
§ 1-304. Obligation of good faith.
§ 1-305. Remedies to be liberally administered.
§ 1-306. Waiver or renunciation of claim or right after breach.
§ 1-307. Prima facie evidence by third-party documents.
§ 1-308. Performance or acceptance under reservation of rights.