pri·or·i·ty 1 /prī-'ȯr-ə-tē/ n pl -ties: precedence in exercise of rights in the same subject matter
secured interests have priority over unsecured ones
priority 2 adj
1: having precedence over another in the exercise of rights in the same subject matter
a priority creditor
a priority claim
2: of or relating to priority
a priority contest
Merriam-Webster’s Dictionary of Law. Merriam-Webster. 1996.