Senior Time Lord

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The Chancellor and the President. (TV: The Three Doctors)

The President and Chancellor were recognised as Senior Time Lords, whom commanded younger Junior Time Lords and were distinguished by their "flowing, ornamental robes". (PROSE: The Three Doctors)

By another account, the titles of First Time Lord, Second Time Lord and Third Time Lord referred to "the three most superior Time Lords". (PROSE: Doctor Who and the Doomsday Weapon)