Bulk Cajun Mortgage definition

Bulk Cajun Mortgage has the meaning given to it in Section 3.1(l)(i).
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Examples of Bulk Cajun Mortgage in a sentence

  • All Encumbrances that either Guarantor may have or that would otherwise arise against any assets of Borrower or Bulk Discovery, including for any breach of the Time Charter, are hereby irrevocably subordinated to the liens of the Bulk Cajun Mortgage and other security granted in the Loan Documents, and the liens of the Bulk Discovery Mortgage and the other security granted for the obligations secured thereby (the “Subordinated Liens”).

  • Each other mortgage, charter, or transfer shall be subject to the provisions of the Bulk Cajun Mortgage and the lien it creates.

  • Borrower may remove equipment from the Vessel free and clear of the liens of the Bulk Cajun Mortgage if (i) it simultaneously replaces such equipment with equipment of the same or greater value, (ii) it causes all damage to the Vessel caused by such removal and replacement to be promptly repaired, and (iii) such removal and replacement will not adversely affect the fair market value of the Vessel.

  • The Bulk Cajun Mortgage shall have been duly preliminarily filed and recorded at the Public Registry of Titles and Encumbrances of Vessels of the Panama Maritime Authority, such that it creates a duly perfected mortgage and maritime lien under the laws of the Republic of Panama, and creates a preferred mortgage on the Vessel (as the term “preferred mortgage” is defined at 46 U.S.C. § 31301(6)(B)), subject to no Encumbrances thereon other than Permitted Encumbrances.

  • Lender shall have received a certified copy of a certificate of ownership and encumbrance for the Vessel issued by the Panama Public Register Office that indicates that Borrower is the sole owner of record of the Vessel, that the Bulk Cajun Mortgage has been duly filed and recorded at the Panama Public Register Office, and that there are no outstanding Encumbrances of record at the Panama Public Register Office that pertain to the Vessel.

Related to Bulk Cajun Mortgage

  • Blanket Mortgage The mortgage or mortgages encumbering a Cooperative Property.

  • Ship Mortgage shall have the meaning set forth for such term in the Intercreditor Agreement. Notice of Assignment ASSIGNMENT OF INSURANCE BY INTERNAL CHARTERERS Vantage Drilling Netherlands BV NOTICE OF ASSIGNMENT To Whom It May Concern: Vantage Drilling (Malaysia) I SDN, a private company limited by shares duly incorporated with limited liability under the laws of Malaysia (the “Assignor”), HEREBY GIVES NOTICE that by an Assignment, dated October 25, 2012, and made by the Assignor to Xxxxx Fargo Bank, National Association (the “Assignee”), as Pari Passu Collateral Agent (as defined under the Intercreditor Agreement defined below), the Assignor assigned to the Assignee all of the Assignor’s right, title and interest in and to all insurances and the benefit of all insurances heretofore, now or hereafter taken out in respect of the Panamanian flag vessels AQUAMARINE DRILLER and TOPAZ DRILLER and all proceeds thereof. This Notice and the attached Loss Payable Clauses are to be endorsed on all policies and certificates of entry evidencing such insurances.

  • Second Lien Mortgage Loan A Mortgage Loan secured by a second lien Mortgage on the related Mortgaged Property.

  • Owner Mortgage Loan File A file maintained by the Custodian for each Mortgage Loan that contains the documents specified in Section 2.01(a) and any additional documents required to be added to the Owner Mortgage Loan File pursuant to this Agreement.

  • ARM Mortgage Loan A Mortgage Loan pursuant to which the interest rate shall be adjusted from time to time in accordance with the related Mortgage Note.

  • Wet-Ink Mortgage Loan means a Mortgage Loan which Seller is selling to Buyer simultaneously with the origination thereof.

  • Aircraft Mortgage means each Aircraft and Engine mortgage and security agreement entered into by any Borrower in favor of the Agent evidencing the Liens in respect of such Aircraft Collateral that will secure the Obligations, in each case as amended, modified, restated, supplemented or replaced from time to time.

  • Mortgage Documents With respect to each Mortgage Loan, the mortgage documents required to be delivered to the Custodian pursuant to each Custodial Agreement.

  • Group 4 Mortgage Loan Each Mortgage Loan listed on Exhibit D-4 hereto.

  • Mortgage shall have the meaning assigned to such term in the recitals.

  • Existing Mortgage has the meaning specified in Section 5.02(a)(vi).

  • mortgage agreement ’ means the note or debt instrument and the mortgage instrument, deed of trust instrument, trust deed, or instru- ment or instruments creating the mortgage, including any instrument incorporated by ref- erence therein (including any applicable regu- latory agreement), and any instrument or agreement amending or modifying any of the foregoing;

  • FHA Mortgage Insurance means, mortgage insurance authorized under the National Housing Act, as amended from time to time, and provided by the FHA.

  • Conforming Mortgage Loan means a first lien Mortgage Loan originated in accordance with the criteria of an Agency for purchase of Mortgage Loans, including, without limitation, conventional Mortgage Loans, as determined by Buyer in its sole discretion.

  • First Mortgage Loan A Home Equity Loan which constitutes a first priority mortgage lien with respect to any Property.

  • Group 3 Mortgage Loan Each Mortgage Loan listed on Exhibit D-3 hereto.

  • Mortgage Loan Agreement means the Loan Agreement, dated as of June 17, 2022, between the Mortgage Loan Borrower, as borrower, and Xxxxx Fargo Bank, National Association, as lender, as the same may be further amended, restated, supplemented or otherwise modified from time to time, subject to the terms hereof.

  • First Lien Mortgage Loan A Mortgage Loan secured by a first lien Mortgage on the related Mortgaged Property.

  • Park Monaco Mortgage Loans The Mortgage Loans identified as such on the Mortgage Loan Schedule for which Park Monaco is the applicable Seller.

  • Jumbo Mortgage Loan means a Mortgage Loan that would otherwise be a Conforming Mortgage Loan secured by a first Lien Mortgage except that the original principal amount is more than the maximum Agency loan amount but not more than One Million Dollars ($1,000,000).

  • Lender PMI Mortgage Loan Certain Mortgage Loans as to which the lender (rather than the borrower) acquires the Primary Insurance Policy and charges the related borrower an interest premium.

  • Premium Mortgage Loan Any Group 1 Premium Mortgage Loan or Group 2 Premium Mortgage Loan.

  • High Cost Mortgage Loan means a Mortgage Loan classified as (a) a “high cost” loan under the Home Ownership and Equity Protection Act of 1994 or (b) a “high cost,” “threshold,” “covered,” or “predatory” loan under any other applicable state, federal or local law (or a similarly classified loan using different terminology under a law, regulation or ordinance imposing heightened regulatory scrutiny or additional legal liability for residential mortgage loans having high interest rates, points and/or fees).

  • Group I Mortgage Loan A Mortgage Loan assigned to Loan Group I. All Group I Mortgage Loans have a principal balance at origination that conforms to Xxxxxxx Mac loan limits.

  • Group II Mortgage Loan A Mortgage Loan assigned to Loan Group II with a Stated Principal Balance at origination that may or may not conform to Xxxxxx Mae and Xxxxxxx Mac loan limits.