Alternade

An alternade is a word in which its letters, taken alternatively in a strict sequence, and used in the same order as the original word, make up at least two other words. All letters must be used, but the smaller words are not necessarily of the same length. For example, a word with seven letters where every second letter is used will produce a four-letter word and a three-letter word.
In the majority of alternades, every second letter is used to make two smaller words, but in some cases, every third letter is used to make three smaller words. Theoretically, a very long word could use every fourth letter to make four smaller words; e.g., «partitioned» is an alternade for «pin», «ate», «rid», and «to».
The term binade is also used.
The alternade was introduced by L'Allegro in the May 1917 "Eastern Enigma", published in June 1917.
Variants on the alternade include the rebade (a hybrid of a rebus and an alternade), and the subade.
At least 4,800 alternades are known to exist.