[chan-suh-ler-ship, -sler-, chahn-]
the office or rank of chancellor.
a chancellor's term of office.

1425–75; late Middle English chanceler-schepp. See chancellor, -ship

underchancellorship, noun Unabridged
Based on the Random House Dictionary, © Random House, Inc. 2014.
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World English Dictionary
chancellor (ˈtʃɑːnsələ, -slə)
1.  the head of the government in several European countries
2.  (US) the president of a university or, in some colleges, the chief administrative officer
3.  (Brit), (Canadian) Compare vice chancellor the honorary head of a university
4.  (US) (in some states) the presiding judge of a court of chancery or equity
5.  (Brit) the chief secretary of an embassy
6.  Christianity a clergyman acting as the law officer of a bishop
7.  archaic the chief secretary of a prince, nobleman, etc
[C11: from Anglo-French chanceler, from Late Latin cancellārius porter, secretary, from Latin cancellī lattice; see chancel]

Collins English Dictionary - Complete & Unabridged 10th Edition
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Example sentences
It is said that he will resign the chancellorship in order to be free to take the stump.
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