Permitted Mortgage Clause Samples
The Permitted Mortgage clause defines the types of mortgages or security interests that a party, typically a tenant or borrower, is allowed to grant over a property without breaching the agreement. It usually specifies conditions such as the maximum amount, the type of lender, or the purpose for which the mortgage can be granted, for example, allowing a tenant to secure financing for property improvements. This clause ensures that the property can be used as collateral under agreed circumstances while protecting the interests of the other party by preventing unauthorized or excessive encumbrances.
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Permitted Mortgage. Attached hereto and incorporated by reference herein is Exhibit E: Permitted Mortgage. This Exhibit sets forth the rights and obligations of the Lessee, Lessor, CLT, and the Permitted Lender with regard to the Permitted Mortgage.
Permitted Mortgage. 6 Person . . . . . . . . . . . . . . . . . . . . . . . . . . 7
Permitted Mortgage. Homeowner may mortgage the Leased Premises or grant a security interest in the Improvements, either for the purchase or refinance of Improvements located thereon, only with the prior written consent of IHT and only pursuant to a mortgage or other security instrument satisfying all of the requirements for a Permitted Mortgage. By signing this Lease, IHT gives written permission for any mortgage signed by the Homeowner effective on the day this Lease is signed for the purpose of financing Homeowner’s purchase of the Improvements.
Permitted Mortgage. 7 Person.................................................... 7 principal................................................. 8
Permitted Mortgage. Lessee may mortgage the Leased Premises or grant a security interest in the Improvements, either for the purchase or refinance of Improvements located thereon, only with the prior written consent of Lessor and only pursuant to a mortgage or other security instrument satisfying all of the requirements for a “Permitted Mortgage,” as hereinafter defined in the attached Exhibit F, Permitted Mortgages. Not less than thirty (30) days (or such shorter period as may be approved by the Lessor) prior to the date on which Lessee (or a prospective Lessee who has contracted to purchase the Improvements) requests Lessor’s consent to a mortgage or other security instrument to be effective, Lessee (or prospective Lessee) shall furnish to Lessor copies of every document to be executed in connection with the transaction represented by such mortgage and/or security instrument. Lessor may choose to consent to any mortgage and/or security interest, and in so doing shall designate such mortgage and/or security interest as a “Permitted Mortgage.” However, Lessor shall be required to consent to a mortgage and/or security interest only if (a) at the time such copies of documents are submitted and at the time proposed by Lessee (or prospective Lessee) for the execution of such documents, no default under this Lease is then outstanding; and (b) the mortgage and/or security interest so submitted is a Permitted Mortgage as defined in the attached Exhibit F, Permitted Mortgages. Lessee shall pay to Lessor at Lessor’s option, as additional Ground Lease Fee, all fees, costs, and expenses, including, without limitation, reasonable attorneys’ fees, incurred by Lessor in connection with any Permitted Mortgage.
Permitted Mortgage. Homeowner may mortgage the Leased Premises only with the written consent of ACHT. Not less than thirty (30) days prior to the date on which Homeowner (or a prospective Homeowner who has contracted to purchase the Improvements) requests ACHT’s consent to a mortgage to be effective, Homeowner (or prospective Homeowner) shall furnish to ACHT copies of every document to be executed in connection with the transaction represented by such mortgage. ACHT may choose to consent to any mortgage, and in so doing shall designate such mortgage as a “Permitted Mortgage.” However, ACHT shall be required to consent to a mortgage only if (a) at the time such copies of documents are submitted and at the time proposed by Homeowner (or prospective Homeowner) for the execution of such documents, no default is then outstanding; and (b) The mortgage so submitted is a Standard Permitted Mortgage as defined in the attached Exhibit PERMITTED MORTGAGES. Homeowner shall pay to ACHT at ACHT’s option, all fees, costs and expenses, including, without limitation, reasonable attorneys’ fees, incurred by ACHT in connection with any Permitted Mortgage.
Permitted Mortgage. Lessee may mortgage the Improvements, or leasehold estate only with the written consent of Lessor. Not less than thirty (30) days prior to the date on which Lessee requests Lessor’s consent to a mortgage to be effective, Lessee shall furnish to Lessor copies of every document to be executed in connection with the transaction represented by such mortgage. Lessor may choose to consent to any mortgage, and in so doing shall designate such mortgage as a “Permitted Mortgage.” However, Lessor shall be required to consent to a mortgage if (a) at the time such copies of documents are submitted and at the time proposed by Lessee for the execution of such documents, no default is then outstanding; and (b) the mortgage so submitted is a Standard Permitted Mortgage as defined in the attached Exhibit F MORTGAGE. Lessee shall pay to Lessor at Lessor’s option, as additional Lease Fee, all fees, costs and expenses, including, without limitation, reasonable attorneys’ fees, incurred by Lessor in connection with reviewing and approving any Permitted Mortgage.
Permitted Mortgage. Homeowner may mortgage the Leased Premises only with the written consent of VCLT. Not less than thirty (30) days prior to the date on which Homeowner (or a prospective Homeowner who has contracted to purchase the Improvements) requests VCLT’s consent to a mortgage, Homeowner (or prospective Homeowner) shall furnish to VCLT copies of every document to be executed in connection with the transaction represented by such mortgage. VCLT may choose to consent to any mortgage, and in so doing shall designate such mortgage as a “Permitted Mortgage.” Homeowner shall pay to VCLT at VCLT’s option, as additional Ground Lease Fee, all fees, costs and expenses, including, without limitation, reasonable attorneys’ fees, incurred by VCLT in connection with any Permitted Mortgage.
Permitted Mortgage. Any mortgage, deed of trust, agreement for sale or other security device creating a first lien on ▇▇▇▇▇▇’s Leasehold Estate, a true and complete copy of which has been properly delivered to Lessor.
Permitted Mortgage. Lessee may mortgage the Leased Premises only with the written consent of Lessor. Not less than thirty (30) days prior to the date on which Lessee (or a prospective Lessee who has contracted to purchase the Improvements) requests Lessor’s consent to a mortgage to be effective, Lessee (or prospective Lessee) shall furnish to Lessor copies of every document to be executed in connection with the transaction represented by such mortgage. Lessor may choose to consent to any mortgage, and in so doing shall designate such mortgage as a “Permitted Mortgage.” However, Lessor shall be required to consent to a mortgage only if (a) at the time such copies of documents are submitted and at the time proposed by Lessee (or prospective Lessee) for the execution of such documents, no default is then outstanding; and (b) The mortgage so submitted is a Standard Permitted Mortgage as defined in the attached Exhibit PERMITTED MORTGAGES. Lessee shall pay to Lessor at Lessor’s option, as additional Ground Lease Fee, all fees, costs and expenses, including, without limitation, reasonable attorneys’ fees, incurred by Lessor in connection with any Permitted Mortgage.