Applicable Mortgages definition

Applicable Mortgages means any Mortgage with respect to which mortgage recording taxes, documentary stamp taxes, intangible taxes and other similar taxes are payable in connection with each Credit Extension (assuming that no Credit Extensions were then outstanding).
Applicable Mortgages. All Home Mortgages for which pool mortgage insurance coverage is required under the Master Agreement, consisting of all 30-year fixed-rate Mortgages with LTV ratios greater than 65 percent, but not greater than 97 percent, which are to be purchased thereunder; provided, however, that Applicable Mortgages shall not include: (a) Mortgages where the Mortgaged Premises are located in Guam, Puerto Rico or the U.S. Virgin Islands; (b) Mortgages identified by special characteristic codes 001, 033, 218, 219, 231, 291, 531, or 537; (c) Mortgages insured or guaranteed by a federal government agency or instrumentality; (d) Custom MI Mortgages; (e) A-minus Mortgages; (f) Alt 97 Mortgages except those with 35 percent mortgage insurance coverage; (g) all Mortgages with secondary financing; (h) Mortgages that are subject to another risk sharing structure; (i) Mortgages considered for secondary market coverage; (j) Loan Prospector Mortgages originated using Stated Income; (k) Non-Loan Prospector Mortgages originated with no income and no asset verification and documentation; and (1) Non-Loan Prospector Mortgages originated with no qualifying ratios. Delinquent Mortgage: An Insured Mortgage:

Examples of Applicable Mortgages in a sentence

  • The portion of the Collateral consisting of (a) the original Pledged Notes Receivable; (b) the original Applicable Mortgages; and (c) all other original Loan Documents shall be delivered, at Borrower's expense, to Lender at its address as set forth in Section 11.1 hereof and, except as otherwise expressly provided herein to the contrary, held in Lender's possession, custody, and control until all of the Obligations have been fully satisfied.

  • Lender may, at Borrower's expense, appear in and defend any action or proceeding, at law or in equity, that Lender in good faith believes may affect the Liens or security interests granted under this Agreement, including, without limitation, with respect to the Pledged Notes Receivable, the Applicable Mortgages, the value of the Collateral, or Lender's rights under any of the Loan Documents.

  • The Leased Property shall be subject to the Liens of the Applicable Mortgages.

  • This Lease shall be subject and subordinate to the Liens of the Indenture and the Applicable Mortgages and the Applicable Assignments of Rents, but neither the Landlord nor any Person deriving or claiming rights through, under or from Landlord shall, so long as no Event of Default shall have occurred and be continuing and subject to the terms of this Section 16.1, take any action contrary to the Tenant's rights under this Lease to the use, quiet enjoyment and possession of the Leased Property.

  • Tenant acknowledges that such assignments and security interests provide for the exercise by the Agent of all rights, other than Reserved Rights, of Landlord hereunder to give any consents, approvals, waivers, notices or the like, to make any elections, demands or the like or to take any other discretionary action hereunder, including the exercise of remedies, except as specifically set forth in the Applicable Mortgages.

  • Xxxxxxx Mac’s obligation to purchase Applicable Mortgages under this Agreement and applicable Master Commitments is contingent upon Seller’s ability to obtain coverage for each Applicable Mortgage under the MPI Policy in accordance with the terms of the Pool Insurance Agreement.

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  • All documents and instruments that evidence or secure an Applicable Underlying Loan, including but not limited to any Notes Receivable, Applicable Mortgages, and Underlying Guarantees executed and delivered to Borrower in connection therewith.

  • All actions with respect to the eligibility of the Applicable Mortgages required of Seller shall be undertaken prior to the sale of such Applicable Mortgages to Xxxxxxx Mac.

  • This Lease and all rights of the Tenant hereunder are subject and subordinate at all times to all of the Applicable Mortgages, whether existing on and as of the date hereof or hereafter executed and delivered by the Landlord to the Agent, and all renewals, modifications, consolidations, replacements and extensions thereof (collectively and including the Security Documents, "Secured Interests").

Related to Applicable Mortgages

  • Existing Mortgages means each of the mortgages, deeds of trust or other agreements made pursuant to the Existing Credit Agreement by any Loan Party in favor of the Agent for the benefit of the Agent and the Lenders.

  • Mortgaged Properties the real properties listed on Schedule 1.1B, as to which the Administrative Agent for the benefit of the Lenders shall be granted a Lien pursuant to the Mortgages.

  • Mortgages means, individually and collectively, one or more mortgages, deeds of trust, or deeds to secure debt, executed and delivered by a Loan Party or one of its Subsidiaries in favor of Agent, in form and substance reasonably satisfactory to Agent, that encumber the Real Property Collateral.

  • Eligible Mortgage Loan means, on any date of determination, a Mortgage Loan: