Eligible Mortgaged Properties definition

Eligible Mortgaged Properties means, collectively, those Properties which (a) are owned by Borrower and mortgaged to secure the Obligations and the Other Allowed Debt, (b) for which Agent has received title opinions and other title information concerning such Properties in form, substance and authorship satisfactory to Agent, and (c) are free and clear of all Liens other than Permitted Liens.
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Eligible Mortgaged Properties means collectively, those Oil and Gas Properties (a) that are owned by a Grantor and mortgaged to Administrative Agent to secure the Obligations, (b) for which Administrative Agent has received title opinions or other title information concerning such interests in form, substance and authorship satisfactory to Administrative Agent and (c) that are free and clear of all Liens other than Permitted Liens.
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Eligible Mortgaged Properties means, collectively, those oil and gas Properties (a) which are owned by Company or any Subsidiary Guarantor and mortgaged to Administrative Agent to secure the Obligations, (b) for which Administrative Agent has received title opinions or other title information concerning such interests in form, substance and authorship satisfactory to Administrative Agent, (c) are free and clear of all Liens other than Permitted Liens, and (d) which are subject to an ORRI Conveyance. For the avoidance of doubt, in addition to the other requirements set forth in this definition, no Oil and Gas Property shall be considered as an "Eligible Mortgaged Property" until the sight drafts or other consideration payments for such Oil and Gas Property have been paid in full and title to such Oil and Gas Property have vested in, and is held in the name of, Company or any Subsidiary Guarantor.
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Examples of Eligible Mortgaged Properties in a sentence

  • Borrower will make capital expenditures for the drilling and development of the Eligible Mortgaged Properties in accordance with the Plan of Development.

  • Each Engineering Report shall distinguish (or shall be delivered together with a certificate from an appropriate officer of Company which distinguishes) those Properties treated in the report which are Eligible Mortgaged Properties from those properties treated in the report which are not Eligible Mortgaged Properties.

  • Borrower will meet with Agent, at Borrower's expense, from time to time (as frequently as monthly and in any event at least once per Fiscal Quarter), at the offices of Agent or at such other location as Agent and Borrower may agree, to review all operational activities of Borrower with respect to the Eligible Mortgaged Properties and all financial reports of the Related Persons since the date of the prior review.

  • Unless otherwise stated or communicated to Customer, any Beta Releases trial period will expire upon the date that a version of the Beta Releases becomes generally available without the applicable Beta Releases designation.

  • None identified Version History VersionDateActionChange Tracking Standard Development RoadmapThis section is maintained by the drafting team during the development of the standard and will be removed when the standard becomes effective.

  • In addition, Agent reserves the right, at any time and from time to time after the Closing Date, to adjust any of the criteria set forth below, to establish new criteria and to adjust advance rates with respect to Eligible Mortgaged Properties, in its reasonable credit judgment, subject to the approval of Supermajority Lenders in the case of adjustments, new criteria or changes in advance rates which have the effect of making more credit available.

  • The plate-making areas have approximately 350 production workers and 60 maintenance workers.

  • Borrower will meet with Agent from time to time as ------- reasonably requested by Agent or Required Lenders, at the offices of Agent or at such other location as Agent and Borrower may agree, to review all operational activities of Borrower with respect to the Eligible Mortgaged Properties and all financial reports of the Restricted Persons since the date of the prior review.

  • Company will meet with Administrative Agent from time to time as reasonably requested by Administrative Agent or Required Lenders (which, as of the Closing Date, is anticipated to be on a quarterly basis), at the offices of Administrative Agent or at such other location as Agent and Company may agree, to review all operational activities of Company with respect to the Eligible Mortgaged Properties and all financial reports of the Credit Parties since the date of the prior review.

  • As of the date hereof, the real estate ("Real Estate") listed in Disclosure Schedule (3.6)(i) and (ii), as appropriate, constitutes all of the material real property owned, leased or subleased by any Borrower, including the Eligible Mortgaged Properties.


More Definitions of Eligible Mortgaged Properties

Eligible Mortgaged Properties has the meaning ascribed to it in Section 1.6(c).
Sample 1
Eligible Mortgaged Properties means, collectively, those Oil and Gas Properties (a) which are owned by the Borrower or any other Loan Party and mortgaged to the Agent to secure the Loan Document Obligations, (b) for which the Agent has received title opinions or other title information concerning such interests in form, substance and authorship satisfactory to the Agent, (c) are free and clear of all Liens other than Liens permitted under Section 6.02, and (d) which are subject to an ORRI Conveyance.
Sample 1
Eligible Mortgaged Properties means real property of any Loan Party which: (i) is owned in fee simple by such Loan Party, (ii) is subject to a first priority Mortgage, (iii) is not subject to any Lien other than Permitted Liens, (iv) has an occupancy rate of at least 62% in one of the immediately preceding two months as shown in the Occupancy Reports delivered pursuant to Section 6.1(f), and (v) is otherwise acceptable to the Administrative Agent in its sole discretion.
Sample 1
Eligible Mortgaged Properties means, collectively, those Coal Properties (a) that are owned by Company or any other Credit Party and mortgaged to Administrative Agent to secure the Obligations, (b) for which Administrative Agent has received title opinions or other title information concerning such interests in form, substance and authorship satisfactory to Administrative Agent, (c) that are free and clear of all Liens other than Permitted Liens, and (d) that are subject to an ORRI Conveyance.
Sample 1

Related to Eligible Mortgaged Properties

  • 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.

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

  • Mortgaged Real Property means (a) each Real Property identified on Schedule 1.01(a) hereto and (b) each Real Property, if any, which shall be subject to a Mortgage delivered after the Original Closing Date pursuant to Section 5.11(d) or pursuant to Section 5.11(d) of the Original Credit Agreement or the Prior Credit Agreement.

  • Underlying Mortgaged Property With respect to each Co-op Loan, the underlying real property owned by the related residential cooperative housing corporation.

  • Closing Date Mortgaged Property as defined in Section 3.1(h).

  • Additional Mortgaged Property has the meaning assigned to that term in subsection 6.9.

  • Released Mortgaged Property Proceeds As to any Mortgage Loan, proceeds received by the Servicer in connection with (a) a taking of an entire Mortgaged Property by exercise of the power of eminent domain or condemnation or (b) any release of part of the Mortgaged Property from the lien of the related Mortgage, whether by partial condemnation, sale or otherwise, which are not released to the Mortgagor in accordance with applicable law and mortgage servicing standards the Servicer would use in servicing mortgage loans for its own account and this Agreement.

  • Mortgage Collateral the “Collateral” as defined in the Mortgage Loan Agreement.

  • Mortgaged Premises means any real property which shall now or hereafter be subject to a Notes Mortgage.

  • Borrowing Base Property means any one of the Borrowing Base Properties.

  • Borrowing Base Properties means the Oil and Gas Properties of the Credit Parties included in the Initial Reserve Report and thereafter in the most recently delivered Reserve Report delivered pursuant to Section 9.14.

  • Mortgage Assets The Mortgage Loans to be included in the Trust Fund are as described in Annex A hereto.

  • Collateral Pool means, at any time, each Portfolio Investment that has been Delivered (as defined in the Guarantee and Security Agreement) to the Collateral Agent and is subject to the Lien of the Guarantee and Security Agreement, and then only for so long as such Portfolio Investment continues to be Delivered as contemplated therein and in which the Collateral Agent has a first-priority perfected Lien as security for the Secured Obligations (subject to any Lien permitted by Section 6.02 hereof with respect to such Portfolio Investment), provided that in the case of any Portfolio Investment in which the Collateral Agent has a first-priority perfected (subject to Permitted Liens under clause (g) of the definition thereof) security interest pursuant to a valid Uniform Commercial Code filing, such Portfolio Investment may be included in the Collateral Pool so long as all remaining actions to complete “Delivery” are satisfied in full within the longest period of (i) seven (7) days of such inclusion and (ii) as the Collateral Agent may agree in its reasonable discretion.

  • Real Property Collateral means the parcel or parcels of Real Property identified on Schedule R-1 and any Real Property hereafter acquired by Borrower.

  • Unencumbered Properties means each Acceptable Property that either (a) is an Initial Unencumbered Property or (b) becomes an Unencumbered Property pursuant to Section 4.03, and “Unencumbered Property” means any one of the Unencumbered Properties.

  • Foreclosed Property The Property or other Collateral securing the Mortgage Loan, title to which has been acquired by the Special Servicer on behalf of the Trust and the Companion Loan Holders through foreclosure, deed in lieu of foreclosure or otherwise in the name of the Trustee or its nominee.

  • Real Estate Assets means any investment by the Company or the Operating Partnership in unimproved and improved Real Property (including fee or leasehold interests, options and leases), directly, through one or more subsidiaries or through a Joint Venture.

  • UCC Collateral is defined in Section 3.03.

  • Real Estate Asset means, at any time of determination, any interest (fee, leasehold or otherwise) then owned by any Credit Party in any real property.

  • Real Properties means the real property owned by the Borrower or any of its Subsidiaries.

  • Subject Properties has the meaning specified in Section 5.13(a).

  • PMI Mortgage Loans The list of Mortgage Loans insured by the PMI Insurer attached hereto as Schedule II.

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

  • Real Property Assets means as to any Person as of any time, the real property assets (including, without limitation, interests in participating mortgages in which such Person’s interest therein is characterized as equity according to GAAP) owned directly or indirectly by such Person at such time.

  • Individual Property means each parcel of real property, the Improvements thereon and all Personal Property owned by Mortgage Borrower and encumbered by a Mortgage, together with all rights pertaining to such Property and Improvements, as more particularly described in each Mortgage and referred to therein as the “Property”.

  • Senior Collateral means any “Collateral” as defined in any Credit Agreement Loan Document or any other Senior Debt Document or any other assets of the Company or any other Grantor with respect to which a Lien is granted or purported to be granted pursuant to a Senior Collateral Document as security for any Senior Obligations.