Eligible Mortgaged Properties definition

Eligible Mortgaged Properties means, collectively, those Oil and Gas Properties (a) which are owned by Company or any other Restricted Person 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) which are free and clear of all Liens other than Permitted Liens.
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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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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.

  • Borrower will (1) timely develop the Eligible Mortgaged Properties in accordance with the Plan of Development, and (2) except to the extent regulatory approval has not yet been obtained, have each producing and injection well which is hereafter completed put into normal operation.

  • 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.

  • To the extent requested by Agent, Agent shall have received appraisals as to the Eligible Items (other than with respect to the Eligible Mortgaged Properties), each of which shall be in form and substance reasonably satisfactory to Agent.

  • 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.

  • 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.

  • Agent shall have the right to establish, modify or eliminate Reserves against Eligible Mortgaged Properties from time to time in its reasonable credit judgment.

  • All of the Mortgaged Properties of Borrower and each Domestic Subsidiary Guarantor set forth on Schedule 1.6(c) shall be "Eligible Mortgaged Properties" for purposes of this Agreement, except any Mortgaged Properties to which any of the exclusionary criteria set forth below applies.

  • 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.

  • Borrower will (1) timely develop ------------------------ the Eligible Mortgaged Properties in accordance with the Plan of Development, and (2) except to the extent regulatory approval has not yet been obtained, have each producing and injection well which is hereafter completed put into normal operation.


More Definitions of Eligible Mortgaged Properties

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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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
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.
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Eligible Mortgaged Properties has the meaning ascribed to it in Section 1.6(c).
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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 each of the parcels of real property set forth on Schedule 4 hereto, or interests therein, owned in fee by a Credit Party, together with each other parcel of Real Property that shall become subject to a Mortgage after the Closing Date, in each case together with all of such Credit Party’s right, title and interest in the improvements and buildings thereon and all appurtenances, easements or other rights belonging thereto.

  • 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(i).

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

  • 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 Note Mortgage and/or an ABL Mortgage.

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

  • Borrowing Base Property means Eligible Property and/or Commercial Land that the Administrative Agent has agreed to include in calculations of the Borrowing Base pursuant to Section 4.1. A Property shall be excluded from the determination of the Borrowing Base if at any time such Property shall cease to be an Eligible Property.

  • Borrowing Base Properties means the Oil and Gas Properties of the Loan Parties included in the Initial Reserve Report and thereafter in the most recently delivered Reserve Report delivered pursuant to Section 8.12.

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

  • Collateral Pool means all of the Collateral.

  • MERS Eligible Mortgage Loan Any Mortgage Loan that has been designated by the Servicer as recordable in the name of MERS.

  • 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, at any time, a collective reference to each of the facilities and real properties owned, leased or operated by the Consolidated Parties at such time.

  • 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.

  • Custodial property means an interest in property transferred to a custodian under this act and the income from, and proceeds of, that interest in property.

  • Eligible mortgagee means the holder of a security interest on a unit that has filed with the secretary of the association a written request that it be given copies of notices of any action by the association that requires the consent of mortgagees.