Mortgage Default Clause Samples

Mortgage Default any condition, circumstance, act, or event that, with the giving of notice or the lapse of time, would constitute a Mortgage Event of Default, or (2) any Mortgage Event of Default.

Mortgage Default. The occurrence of an Event of Default under that certain collateral mortgage and security agreement dated July 27, 2000, by Debtor in favor of Secured Party in the principal sum of $3,200,000, as the same may be extended or otherwise modified from time to time (the "Collateral Mortgage"; and as used in this subparagraph (s), the term "Event of Default" shall have the meaning set forth in the Collateral Mortgage).

Mortgage Default. Owner agrees to notify manager within 10 business days of any pending foreclosure proceedings or default on mortgage payments. A $500 fee will be assessed automatically if a tenant is placed in the property during any pending foreclosure proceedings.

Mortgage Default. In the event Agent receives a mortgage default, foreclosure or similarly notice from any lender affecting the Premises, Agent shall deliver such notice to the tenant as required by Virginia Code Section 55- 225.10, unless such notice was delivered by tenant to agent.

Mortgage Default. 66 ------------- ---------------- SECTION 10.17 ENFORCEABILITY OF SECURITY DOCUMENTS.....................66 ------------- ------------------------------------

Mortgage Default. A default shall have occurred under the Mortgage or the Mortgage shall fail to be in full force and effect in accordance with the terms of this Agreement or Buyer shall not have or shall cease to have a valid and perfected Lien in the collateral purported to be covered by the Mortgage, or Seller or any other Person shall contest the validity or enforceability of the Mortgage or any provision thereof in writing or deny that it has any further liability thereunder.

Mortgage Default. 63 SECTION 10.17 ENFORCEABILITY OF SECURITY DOCUMENTS......................63

Mortgage Default. (a) As guarantor of the loan, the Band must make payments should a private home-owner default. If the home-owner is three months in arrears of the loan payment, or in default, the Band may repossess the house.

Mortgage Default. 6.10.1 Where the Premises is mortgaged or otherwise charged as security for any loan and the Landlord either requests the Tenant to make payments direct to the mortgagee or (in breach of the terms of the mortgage or charge) fails to remedy any default in making the payments required by the mortgage within 28 days of any notice served by any mortgagee then unless the Landlord provides full particulars of the mortgage account into which the Rent can be paid to remedy any breach then the Tenant may withhold any rent due until such time as the Landlord has provided the Tenant with all necessary information so the Rent can be paid. 6.10.2 The Landlord confirms that the Property is subject to the mortgage (if any) appearing in the charges register of the Official Copy entries at the appropriate HM Land Registry as at the date of this Lease and that the entries were relied upon for the purposes of completion of this transaction and that it has obtained the consent of the mortgagee and the parties agree that where a mortgagee of the Premises has notified the Tenant that its security will be materially prejudiced by reason of the Landlord's default in making the required mortgage payments then the Tenant shall and (if so requested in writing) pay the Rent (in part or full) direct to the mortgagee as set out at the time of any such request .