ɐn ˌɪntɚkɹˈɛdɪɾɚɹ ɐɡɹˈiːmənt ɪz ɐ kˈɑːntɹækt bᵻtwˌiːn mˌʌltɪpəl klˈæsᵻz ʌv lˈɛndɚz wˌɛɹ ˈiːtʃ klˈæs ʌv lˈɛndɚɹ ɐɡɹˈiːz tə spəsˈɪfɪk pɹəsˈiːdʒɚz ænd pɹˈɛfɹənsᵻz ɪnðɪ ᵻvˈɛnt əvə bˈæŋkɹʌptsi ɔːɹ lˌɪkwɪdˈeɪʃən.
An intercreditor agreement is a contract between multiple classes of lenders where each class of lender agrees to specific procedures and preferences in the event of a bankruptcy or liquidation.