Mortgage of Lease. The restrictions on Transfer as aforesaid shall apply, mutatis mutandis, to any assigning, subletting, mortgaging, charging or otherwise transferring of the Premises or this Lease for the purpose of securing any loan or the repayment thereof by Tenant.
Mortgage of Lease. The Tenant must not create any security over this Lease or the Tenant's Property.
Mortgage of Lease. The Tenant shall not assign, sublet, mortgage, charge or otherwise transfer the Leased Premises or this Lease for the purpose of securing any loan or the repayment thereof by the Tenant or any other obligation of the Tenant.
Mortgage of Lease. Notwithstanding the first clause in this Part, the Tenant may mortgage the Lease only with the prior consent of the Landlord which will not be unreasonably withheld or refused if before the Tenant grants the mortgage of the Lease:
(a) the Tenant is not in breach of the Lease;
(b) the proposed mortgagee is an Australian bank or other financial institution acceptable to the Landlord;
(c) the mortgage is acceptable to the Landlord and subsequently registered by the Registrar-General; and
(d) the Tenant pays the Landlord’s cost of giving the consent. When the mortgage of the Lease is discharged, the Tenant must inform the Landlord and arrange for the discharge of the registered mortgage.
Mortgage of Lease. TENANT is given and has the absolute right, without LANDLORD'S consent, to mortgage its interest in this lease, except that no such mortgage shall extend to or affect the fee, the reversionary interest, or the estate of LANDLORD in and to any land or building and improvements, other than the Tenant Improvements, now or hereafter erected on the leased property. Any leasehold mortgagee, including TENANT'S initial leasehold mortgagee, MassDevelopment shall have the benefit of the leasehold mortgagee protection provisions attached hereto as Exhibit E. Within ten (10) days of the request of any leasehold mortgagee, LANDLORD shall deliver in recordable form a certification to such leasehold mortgagee certifying that this Lease is in full force and effect and that there are no defenses or offsets thereto, or stating those claimed by LANDLORD.
Mortgage of Lease. (a) The Homeowner may mortgage the leasehold created by this Agreement, including the rights to the Home and the Reversion Price, but cannot otherwise mortgage any rights or interests it has in respect of the Premises.
(b) The Homeowner must obtain the written consent of the Landholder prior to mortgaging the Homeowners rights or interests created by this Agreement.
(c) Any consent given by the Landholder under clause 17(b) is conditional on the Homeowner procuring the Permitted Mortgagee’s written consent to this Agreement remaining registered on title (if required) during the term.
(d) Any mortgage must be a Permitted Mortgage.
(e) The creation of a Permitted Mortgage must not result in the Homeowner’s total mortgage debt being an amount greater than [insert %] of the Reversion Price calculated at the date at which the Homeowner proposes to execute the Permitted Mortgage.
(f) The amount secured by a Permitted Mortgage must not be increased during the term of that mortgage without the prior written consent of the Landholder. Prepared by XX Xxxxxxxx & Associates 6 December 2023. To be read in conjunction with “Explanatory Statement for Australian CLT Network” dated 6 December 2023. Liability limited by a scheme approved under Professional Standards Legislation
(g) In the event that a Permitted Mortgagee exercises it rights under the Permitted Mortgage to obtain the balance owing under the Permitted Mortgage, the Homeowner must distribute the proceeds in the following order of priority:
(i) Balance of sums owing under the Permitted Mortgage to be paid to the Permitted Mortgagee;
(ii) The amount of any unpaid Land use fee and other amounts owed to the Landholder under the terms of this Agreement to be paid to the Landholder; and
(iii) Balance of the Reversion Price to be retained by the Homeowner.
(h) In the event that a Permitted Mortgagee exercises its rights in the manner set out in clause 17(g), the Homeowner may authorise and instruct the Landholder to pay that part of the Reversion Price directly to the Permitted Mortgagee.
Mortgage of Lease. The Tenant shall be entitled upon receiving the Landlord's written consent, which consent will not be unreasonably withheld, to mortgage, pledge or hypothecate this Lease as security for any loan by the Tenant which is specifically taken out and used for the Tenant's Improvements to the Leased Premises during this Lease provided that the amount secured by such mortgage does not exceed seventy-five percent (75%) of the then current value of the Tenant's Improvements on the Leased Premises supplied by the Tenant and the lender is a chartered bank, trust company, life insurance company or other financial institution authorized to do such business in Canada and that within ten (10) days after the execution of such mortgage, pledge or hypothecation agreement, a true and complete copy thereof shall be served on the Landlord.
Mortgage of Lease. The Tenant must not create any security over this Lease or the Tenant's Property. 25 Clause 22.8 provides how Council can exercise this consent right. 26 As above.
Mortgage of Lease. LESSEE is given and has the right, without LESSOR's consent, to mortgage its interest in this lease to the MDFA (the "Leasehold Mortgagee"), except that no such leasehold mortgage shall extend to or affect the fee interest, the reversionary interest, or the estate of LESSOR in and to any land, building or improvements, now or hereafter located or erected on the property of which the leased premises are a part. The Leasehold Mortgagee shall have the benefit of the leasehold mortgagee protection provisions attached hereto as Exhibit G for so long as the ETF Loan remains outstanding. Upon satisfaction of the ETF Loan, Exhibit G shall be of no further force or effect. Within fifteen (15) days of receipt of the request of the Leasehold Mortgagee, LESSOR shall deliver in recordable form a certification to Leasehold Mortgagee certifying that this lease is in full force and effect and that there are no defenses or offsets thereto, or stating those defenses or offsets claimed by LESSOR; provided, however that LESSOR shall not be required to deliver such certification on more than two (2) occasions in any 12-month period.
Mortgage of Lease. Under no circumstances whatsoever may this lease be mortgaged or otherwise financially encumbered by way of sublease, assignment or otherwise.
