Date Down Endorsement definition
Date Down Endorsement means any date down endorsement to the Title Policies or other evidence of date down of title acceptable to Administrative Agent in its reasonable discretion covering (a) disbursements of loan proceeds made or to be made subsequent to the date of the Title Policies and (b) the period subsequent to the date of the Title Policies.
Date Down Endorsement means a date down or other endorsement to the Title Insurance Policy in the form attached hereto as Exhibit 6.5(B), or other evidence satisfactory to Lender, and in each case confirming (a) a continuing title insured first mortgage lien on the Project containing no exception other than Permitted Encumbrances, and (b) that the Title Policy insures the priority of the Lien of the Mortgage in the amount of all disbursements made pursuant to this Agreement.
Date Down Endorsement means an endorsement to the Title Policy which is in form and content acceptable to B Participant and which in any case (a) dates down the effective date of the Title Policy to the date on which the applicable Disbursement it covers is made, (b) increases the liability limit of the Title Policy by an amount equal to the principal amount of such Disbursement, and (c) contains no new exceptions to title except those approved by B Participant.
Examples of Date Down Endorsement in a sentence
Contemporaneously with the execution and delivery hereof, Borrower shall, at its sole cost and expense, obtain and deliver to Lender a (i) Modification Endorsement and (ii) Date Down Endorsement of Loan Policy of Title Insurance No. 102121 insuring the lien of the Mortgage and otherwise being in form and content acceptable to Lender.
Such advance shall be secured by the Mortgages and the other Security Documents, subject only to the Permitted Encumbrances, as evidenced by a Date Down Endorsement satisfactory to Administrative Agent.
If a Date Down Endorsement is required due to errors by Title and/or in the recording of the documents, Title agrees to provide the endorsement at its expense.
During the term of the Loan, Borrower shall deliver to Lender, within five (5) days of Lender’s written request, such other endorsements to the Title Policies as Lender may reasonably require, provided such 40 ny-1258385 endorsement(s) can be obtained at commercially reasonable rates; provided, further, notwithstanding the foregoing, Lender shall always be entitled to require a monthly Date Down Endorsement.
On the date of each Disbursement, at Tenant’s expense, Landlord shall receive a Date Down Endorsement to its owner’s title insurance policy covering the Premises in form and substance, and subject only to such exceptions as are, reasonably acceptable to Landlord.
More Definitions of Date Down Endorsement
Date Down Endorsement has the meaning assigned to that term in subsection 4.1K(iv).
Date Down Endorsement means endorsement(s) to each Applicable Mortgage Loan Policy (dated to the earliest search-through date of all Mortgaged Property covered by such Date-Down Endorsement) in the form promulgated under the title insurance regulations in the states of Georgia, (a) indicating that since the effective date of the Applicable Mortgage Loan Policy (or the date of the last preceding Date-Down Endorsement(s) to the Applicable Mortgage Loan Policy, if later), there has been no change in the state of the title to the applicable Mortgaged Property (other than matters constituting Permitted Liens or matters otherwise approved by DOE), (b) increasing the policy coverage to an aggregate amount equal to the sum of all Advances made on or before the effective date thereof, and stating the amount of coverage then-existing under the Applicable Mortgage Loan Policy, (c) updating the date of the Applicable Mortgage Loan Policy and endorsements thereto to the extent permitted by applicable title insurance regulations in the state of Georgia, (d) otherwise complying with the pending disbursement provisions set forth in Schedule B to the Applicable Mortgage Loan Policy (it being understood that (i) each Date-Down Endorsement shall be issued free and clear of all recorded or unrecorded (to the extent permitted by the then-current title insurance regulations in the applicable state) mechanics’, materialmen’s or other similar liens, and (ii) Borrower shall deliver all lien waivers reasonably requested by the Title Company in order for the Title Company to issue each Date-Down Endorsement without any exceptions for recorded or unrecorded (to the extent permitted by the then-current title insurance regulations in the applicable state) mechanics’ liens as of the date thereof), and (e) as to the final Date-Down Endorsement issued upon each Block Project Completion, removing any exceptions for unfiled mechanics’ liens and the pending disbursement provisions, in each case, in Schedule B to the Applicable Mortgage Loan Policy.
Date Down Endorsement has the meaning given to such term in Section 4.2(o).
Date Down Endorsement has the meaning specified in Section 3.1.
Date Down Endorsement means an endorsement to ▇▇▇▇▇▇’s title policy insuring the Mortgage as a valid first, prior and paramount lien on the Property and deleting all exceptions and objections relating to any right to assert claims for mechanics’ liens on account of labor and/or materials furnished to the Property up to the date of the endorsement.
Date Down Endorsement has the meaning specified in Section 3.1. “Debt Service Coverage Ratio” has the meaning specified in Schedule 1. “Default” has the meaning specified in the definition of “Event of Default”. “Default Rate” has the meaning specified in Section 2.8. “Dollars”, “dollars” or the symbol “$” means lawful money of the United States of America denominated in United States dollars. “Equity Interest” means: (a) if Borrower is a corporation, its capital stock; (b) if Borrower is a limited liability company, its membership interests; or (c) if Borrower is a partnership, its partnership interests. “ERISA” means the Employee Retirement Income Security Act of 1974, as amended. “Event of Default” means any of the events specified in Section 7.1, provided that there has been satisfied any requirement in connection with such event for the giving of notice, or the lapse of time, or the happening of any further condition, event or act, and “Default” will mean any of such events, whether or not any such requirement has been satisfied. “Extension Debt Service Coverage Ratio” means the Debt Service Coverage Ratio recalculated to exclude from NOI any income from any Qualifying Lease which has a remaining term of less than twenty-four (24) months from the Initial Maturity Date. “Extension Request” has the meaning specified in Section 2.13. “Extension Term” has the meaning specified in Section 2.13. “Facility Fee” has the meaning specified in Section 2.2. “Financial Covenant Parties” has the meaning specified in Schedule 1. “GAAP” means generally accepted accounting principles applicable in the United States, consistently applied.
Date Down Endorsement shall have the meaning assigned to such term in Section 3.1(b)(viii).