Both the second U.S. pawn rights and the European interbanks contain similar provisions that give the latter the right to acquire the first pledge rights, plus accrued interest, unpaid fees, charges and other amounts that accrue to the first pawnbrokers at the time of the acquisition. This purchase option offers the second pawn rights a viable alternative to be set aside during a forced enforcement measure controlled by the first holders of the pledges, allowing them to acquire the first pledge rights in full and thus obtain the possibility of controlling the execution procedure themselves. Intercreator frameworks for a given financing structure in a given market are often well regulated, but in the case of cross-border financing for European borrowers or other financing involving practitioners and businessmen in different parts of the world, the parties to the agreement may have different expectations about the most important conditions to which inter-creditors should apply. With regard to the second American and second European pawns, the first and second pledges generally indicate to what extent certain conditions of the first pawn and second pawn contracts cannot be changed without the consent of the other holder. Amendment restrictions are negotiated on the basis of a deal-by-deal and may include restrictions on price increases and restrictions in the event of a change in the due date and the introduction of additional events and agreements. The trend of second U.S. pawn rights, particularly the financing of borrowers held by private equity sponsors, is without any restrictions on change. European companies that interfere with foreclosures tend to follow this American approach. Second-tier U.S. deposit fees generally include a “first cap” to limit the amount of the first deposit obligations, which are a priority for the latter.

The similar provision in dual European pledges is called “senior headroom.” Amounts that exceed the first ceiling for obligations or priority amounts will not benefit from the priority provisions of the interbank agreement. The “pillow” under the first main heading or headroom should allow borrowers to provide additional liquidity, either through credit training or through other means.