Common use of Restrictions on Environmental Condition Mortgaged Properties Clause in Contracts

Restrictions on Environmental Condition Mortgaged Properties. An Environmental Condition Mortgaged Property shall not be considered a Qualified Substitute Mortgaged Property; provided that a Protective Mortgage Loan may be secured by an Environmental Condition Mortgaged Property (and, for the avoidance of doubt, any Environmental Condition Mortgaged Property may be considered a Qualified Substitute Mortgaged Property for purposes of determining whether a Protective Mortgage Loan constitutes a Qualified Substitute Protective Mortgage Loan).

Appears in 7 contracts

Samples: Property Management and Servicing Agreement, Property Management and Servicing Agreement (Spirit MTA REIT), Indenture Supplement (Spirit MTA REIT)

AutoNDA by SimpleDocs
Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!