Mortgage Requirements. 3.1 Applications in respect of a single investment home property will usually be limited in accordance with the following table:
3.2 Multiple applications for investment home properties will be considered up to a total of £10,000,000 per borrower(s).
3.3 The maximum term for a loan is 30 years, the minimum is 5 years.
3.4 Loans may be taken on either a capital repayment or an interest only basis, or a combination of the two.
Mortgage Requirements. Insurance shall be maintained in a manner consistent with the terms and conditions of any Mortgage and any conflict between those terms and conditions and the provisions of this Agreement shall be resolved in favor of the Mortgage.
Mortgage Requirements. No later than 90 days following the Tranche B-7 Effective Date, the Borrower shall deliver or cause to be delivered to the Collateral Agent:
(a) No Mortgage Amendment Necessary
Mortgage Requirements. Actions as to damage or destruction and condemnation shall be taken only in a manner that is consistent with the terms and conditions of the Mortgage and any conflict between those terms and conditions and the provisions of this Agreement shall be resolved in favor of the Mortgage.
Mortgage Requirements. Landlord represents to Tenant that on the date this Lease is executed, the premises are not encumbered by or subject to any mortgages, deeds of trust, or ground leases. This Lease shall, however, be subject and subordinate at all times to all ground or underlying leases which may hereafter be executed affecting the building and/or the land upon which the building is situated and to the lien of any mortgages or deeds of trust in any amount or amounts whatsoever hereafter placed on or against said building and/or land or on or against the Landlord's interest or estate therein or on or against any ground or underlying lease without the necessity of having further instruments on the part of Tenant to effectuate such subordination. Notwithstanding the foregoing, Tenant covenants and agrees to execute and deliver, upon demand, such further reasonable instruments evidencing such subordination of this Lease to such ground or underlying leases and to the lien of any such mortgages or deeds of trust as may be required by Landlord. Tenant hereby irrevocably appoints Landlord the attorney in fact of the Tenant to execute and deliver any such instrument or instruments for or in the name of Tenant. In the event any mortgagee shall elect to have this Lease a prior lien to its mortgage, then and in such event, upon such mortgagee notifying the Tenant in writing to that effect, this Lease shall have priority of the lien of such mortgage to the same extent as if the same have been placed on record prior to such mortgage. In the event of any sale, assignment or hypothecation of the building of which the premises are a part, and/or of any leasehold interest therein by Landlord, if a statement shall be required from Tenant as to offsets against the Landlord, Tenant agrees to furnish said statement to the party demanding the same accurately and promptly. In the event of termination of any ground or underlying lease, or in the event of sale, foreclosure or exercise of any power of sale under any mortgage or deed of trust superior to this Lease or to which this Lease is subject or subordinate, Tenant covenants and agrees that it will, upon request by the purchaser, attorn to the purchaser upon any foreclosure or sale and recognize such purchaser as the Landlord under this Lease, it being the intent hereof that if this Lease should be terminated by such foreclosure or sale, it shall, upon request by the purchaser be reinstated as a lease between the purchaser and the Tenant. Tenan...
Mortgage Requirements. (a) With respect to any Real Property (other than Excluded Real Property) acquired after the Effective Date and owned in fee by a Loan Party, within 90 days of the acquisition thereof, such Loan Party shall deliver to the Administrative Agent or its designee (such Person, the “Applicable Person”) a security interest in and Mortgage on each Real Property owned in fee by such Loan Party and, with respect to any Excluded Real Property described in clause (i) or clause (ii) of the definition thereof, within 90 days of the filing or recording of a subdivision plat, map or similar instrument, or the supplemental declaration, as the case may be, with respect to the applicable Entitled Land, the applicable Loan Party shall deliver to the Applicable Person a security interest in and Mortgage on such Entitled Land (which, in the case of such clause (ii) shall cover individual condominium units) and such Entitled Land shall no longer constitute Excluded Real Property.
(b) The Administrative Borrower shall use its commercially reasonable efforts to cause each such Mortgage to be recorded in the appropriate land records of the applicable Governmental Authority within 30 days of the date of delivery of such Mortgage pursuant to Section 6.17(a). At the time the Administrative Borrower delivers a monthly Borrowing Base Certificate to the Administrative Agent, the Administrative Borrower shall also provide or cause to be provided to the Administrative Agent a reasonably detailed status report of the recording process with respect to such Mortgages.
(c) The Administrative Borrower shall use its commercially reasonable efforts to cause the Mortgage Requirements (other than clause (ii) of the definition of “Mortgage Requirements”) with respect to each Mortgage delivered pursuant to Section 6.17(a) to be fully satisfied, at the sole expense of the Loan Parties, within 60 days of the date of delivery of such Mortgage.
(d) Simultaneously with delivery of a Borrowing Base Certificate calculated as of the end of each March, June, September and December, the Administrative Borrower shall provide a recalculation of the Required Title Insurance Amount with respect to each ALTA lender’s policy of title insurance insuring a Mortgage (other than a Mortgage of Real Property located in the state of Texas) and if the amount of such policy is less than the Required Title Insurance Amount for such policy taking into account applicable tie-in endorsements, the Administrative Borrower shall wi...
Mortgage Requirements. The Land Commission and the Comprehensive Housing Division shall jointly develop rules governing the requirements of mortgages entered into by the Comprehensive Housing Division. At a minimum, the Land Commission and the Comprehensive Housing Division shall ensure that the mortgage requirement rules:
Mortgage Requirements. This Lease and all rights of Lessee --------------------- under this Lease are hereby subordinate hereunder to any lien of any mortgage or mortgages or lien or other security interest resulting from any other method of financing or refinancing, now or hereafter in force against the Leased Property. The provisions of this Article notwithstanding, so long as Lessee is not in default hereunder, this Lease shall remain in full force and effect for the full term hereof and shall not be terminated as a result of any foreclosure or sale or transfer in lieu of such proceedings pursuant to a mortgage or other instrument to which Lessee has subordinated its rights pursuant hereto. In the event of the sale or assignment of Lessor's interest in the Leased Property, or in the event of any proceeding brought for the foreclosure of, or in the event of exercise of the power of sale under any mortgage or other security instrument made by Lessor covering the Leased Property, Lessee shall attorn to the assignee or purchaser and recognize such purchaser as Lessor under this Lease.
Mortgage Requirements. Tenant shall, at its own expense, comply with all reasonable notices of Landlord’s mortgagee or other financial institution providing funds which are secured by a mortgage placed on the whole or any part of the real property of which the Demised Premises are a part, respecting all matters of occupancy, use, condition or maintenance of the Demised Premises, provided the same shall not unreasonably interfere with the conduct of Tenant’s business nor materially limit or affect the rights of the parties under the Lease. Tenant shall, if so directed by Landlord’s mortgagee or such other financial institution in writing, pay all Base Annual Rent, Additional Rent and other sums owed to Landlord directly to such mortgagee or other financial institution. Notwithstanding acceptance and execution of this Lease by the parties hereto, the terms hereof shall be automatically deemed modified, if so required, for the purpose of complying with or fulfilling the reasonable requirements of any mortgagee or trustee named or secured by a mortgage that may now or hereafter be placed upon or secured by the real property of which the Demised Premises are a part or any part thereof, or any other financial institution providing funds to finance or refinance the real property of which the Demised Premises are a part, provided, however, that such modification(s) shall not be in material derogation or diminution of any of the rights of the parties hereunder, nor materially increase any of the obligations or liabilities of the parties hereunder.
Mortgage Requirements. Unless otherwise stated in this paragraph, there are no special Lease provisions which are required by lienholders of the Building, other than the provisions already set forth in this lease.
