Priming
/ˈpraɪmɪŋ/
Definitions
- (n.) The act of preparing or conditioning a legal document or party for enforcement or further action, often to establish precedence or priority.
The priming of the loan agreement ensured it took precedence over other claims.
- (n.) In insolvency law, 'priming' refers to obtaining new financing that has priority over existing secured creditors.
The debtor sought priming financing to keep operations running during restructuring.
Related terms
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Commentary
In legal contexts, priming often relates to priority of claims or rights, especially in finance and insolvency, requiring careful drafting to define scope and effects on existing interests.
This glossary is for general informational and educational purposes only. Definitions are jurisdiction-agnostic but reflect terminology and concepts primarily drawn from English and American legal traditions. Nothing herein constitutes legal advice or creates a lawyer-client relationship. Users should consult qualified counsel for advice on specific matters or jurisdictions.