Mortgage Property. The Borrower shall have provided Life of Loan flood hazard determinations (together with a notice about special flood hazard area status and flood disaster assistance duly executed by the applicable Loan Party) with respect to each Mortgaged Property. If any portion of any Mortgaged Property is located in an area identified by the Federal Emergency Management Agency (or any successor agency) as a Special Flood Hazard Area with respect to which flood insurance has been made available under the National Flood Insurance Act of 1968 (as now or hereafter in effect or successor act thereto), then the Borrower shall (i) maintain, or cause to be maintained, with a financially sound and reputable insurer, flood insurance in an amount and otherwise sufficient to comply with all applicable rules and regulations promulgated pursuant to the Flood Insurance Laws and (ii) deliver to the Collateral Agent evidence of such compliance in form and substance reasonably acceptable to the Collateral Agent.
Mortgage Property. (a) To the extent it is not excepted from the lien of the Indenture, the Company has good title to all real property owned by it and good title to all personal property owned by it (except, in each case, such properties as have been released from the lien of the Indenture in accordance with the terms thereof), subject only to (i) the lien of the Indenture, (ii) Excepted Encumbrances (as defined in the Indenture), (iii) taxes and assessments not yet delinquent, (iv) as to parts of the Company’s property, easements, conditions, restrictions, leases, and similar encumbrances which would not, individually or in the aggregate be expected to have a Material Adverse Effect, (v) defects in titles which would not, individually or in the aggregate, be expected to have a Material Adverse Effect, (vi) mechanics’ lien claims being contested or not of record or for the satisfaction or discharge of which adequate provision has been made by the Company or would not, individually or in the aggregate, be expected to have a Material Adverse Effect and (vii) defects which do not in any Material way impair the security afforded by the Indenture.
(b) The Bonds will be secured by and entitled to the benefits of the Indenture equally and ratably with all other present and future bonds duly issued under the Indenture by a valid and direct first mortgage lien of the Indenture, subject to any sinking funds (or equivalent) that may be hereafter created for the benefit of any particular series or tranche.
Mortgage Property. Set forth on Schedule 8 is a complete and correct list, with respect to each Mortgaged Property, of (a) the exact name of the Person that owns such property, as such name appears in its certificate of organization, (b) if different from the name identified pursuant to clause (a) above, the name of the current record owner of such property, as such name appears in the records of the county recorder's office for such property identified pursuant to clause (c) below, (c) the county recorder's office in which a Mortgage with respect to such property must be filed or recorded in order for the Administrative Agent to provide constructive notice to third parties of its mortgage lien and (d) an estimate of the fair market value apportioned to such property. Copies of any deeds, title insurance policies, or surveys in the possession of the Borrower relating to each Mortgaged Property have been delivered to the Administrative Agent.
Mortgage Property. The Borrower shall have provided life of loan flood hazard determinations (together with a notice about special flood hazard area status and flood disaster assistance duly executed by the applicable Loan Party) with respect to each Mortgaged Property that has located on it one or more buildings. If any portion of the buildings located on any Mortgaged Property is located in an area identified by the Federal Emergency Management Agency (or any successor agency) as a Special Flood Hazard Area with respect to which flood insurance has been made available under the National Flood Insurance Act of 1968 (as now or hereafter in effect or successor act thereto), then the Borrower shall (i) maintain, or cause to be maintained, with a financially sound and reputable insurer, flood insurance in an amount that is reasonably satisfactory to the Administrative Agent and otherwise sufficient to comply with all applicable rules and regulations promulgated pursuant to the Flood Insurance Laws and (ii) deliver to the Collateral Agent evidence of such compliance in form and substance reasonably acceptable to the Collateral Agent.
Mortgage Property. 1.1 Mortgagor agrees to secure the loan with the properties listed in the appendix.
1.2 Mortgagor represents and warrants that it has full authority and power to dispose the property, clear and free of any encumbrance.
Mortgage Property. 3.1 The mortgage property provided by Party B refers to List of Mortgage Property for details.
3.2 The right to mortgage hereof and the List of Mortgage Property covers the mortgage property’s fruits, accessory objects, accessory rights, appurtenances, accreted objects, annexed objects, mixtures, processed objects and etc.
3.3 The right to mortgage hereof and the mortgage property’s substitution objects, includes but not limited to the compensation for insurance, compensation for general damages, compensation for national expropriation and requisition, wreckage of damaging the mortgage property, proceeds of selling the mortgage property.
3.4 Party B who mortgages the house ownership shall mortgage the corresponding land use right simultaneously. If the land use right is mortgaged, the house and fixture located on this land shall be mortgaged simultaneously. Party B further undertakes that the mortgage hereof will be applicable the new-built house and newly increased fixtures on this land in the mortgage period hereof and the related registration procedures will be proceeded.
3.5 Where Party B mortgages the existing and ulterior production facilities, raw and processed materials, semi-manufactures and productions, and if the debtor fails to perform the due debt or the conditions realizing the right to mortgage hereof occur, Party A is entitled to take priority to get paid as of the chattel when realizing the right to mortgage.
3.6 The stipulation to the value of the mortgage property in the List of Mortgage Property shall not be deemed as the evaluating basis of disposing the mortgage property by Party A in accordance with this Agreement, and not constitute any limitation of performing the right to mortgage by Party A.
Mortgage Property. I. Party A shall set up a mortgage to the property as listed in the “Mortgage Property List” of the Contract.
II. The issuance of new certificate of property right or other rights, causing inconsistency between the “Mortgage Property List” or certificate of other rights (mortgage right) or certify documents of mortgage right kept by Party B and the above mentioned newly issued certificates of right or the registration at the registration authority, shall not be the reason for Party A to refuse to bear the mortgage responsibility.
III. Unless otherwise agreed by the both parties or otherwise stipulated by laws, any additional items on the mortgage property for reasons of adhesion, mixing, processing, reconstruction, etc. shall become the mortgage for the creditor’s right of Party B, and Party A shall conduct the necessary procedures such as mortgage registration per the request of Party B.
IV. If the value of the mortgage properties has decreased or is going to decrease, which will affect the realization of the creditor’s right of Party B, Party B shall set new mortgage per the request of Party B.
Mortgage Property. (a) To the extent it is not excepted from the lien of the Indenture, the Company has good title to all real and fixed property owned by it and title to all personal property owned by it (except, in each case, such properties as have been released from the lien thereof in accordance with the terms thereof), subject only to Permitted Liens (as defined in the Indenture), the lien of the Indenture as to parts of the Company’s property, certain easements, conditions, restrictions, leases, and similar encumbrances which do not affect the Company’s use of such property in the usual course of its business, certain minor defects in titles which are not material, and defects in titles to certain properties which are not essential to the Company’s business or which will not have a Material Adverse Effect on the Company.
(b) The Bonds will be secured by and entitled to the benefits of the Indenture equally and ratably with all other bonds duly issued and outstanding under the Indenture by a valid and direct first mortgage lien of the Indenture.
Mortgage Property. Schedule 8 hereto sets forth a complete and correct list, with respect to each Mortgaged Property, of (a) the name of the Person that owns such property, (b) if different from the name identified pursuant to clause (a) above, the name of the current record owner of such property, as such name appears in the records of the county recorder's for such property identified pursuant to clause (c) below, (c) the county record's office in which any Mortgage required by the Credit Agreement with respect to such property must be filed or recorded in order for the Administrative Agent to provide constructive notice to third parties of its mortgage lien and (d) an estimate of the fair market value apportioned to such property, and indicates changes, if any, in such list compared to the list set forth in the Prior Perfection Certificate.
Mortgage Property. 65 ARTICLE IX Events of Default and Acceleration
