Existing Facility Mortgage definition

Existing Facility Mortgage means any Facility Mortgage encumbering any of the Facilities on the Commencement Date.
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Existing Facility Mortgage means the Facility Mortgage in effect on the Commencement Date.
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Existing Facility Mortgage means the Facility Mortgage(s), other than any new Facility Mortgage(s) entered into by any Provident Lessor on the Commencement Date, that are in effect on the Commencement Date and with respect to the Property Lease between ALS Properties Tenant II, LLC and PSLT-ALS Properties II, LLC, shall mean the Facility Mortgages in effect on the date of the execution and delivery of such Property Lease.
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Examples of Existing Facility Mortgage in a sentence

  • ALS Holdings shall, and shall cause the Alterra Lessees to, reasonably cooperate with PSLT-ALS Holdings and the Provident Lessors, at PSLT-ALS Holdings' and the Provident Lessors' cost and expense, to assist PSLT-ALS Holdings and the Provident Lessors in obtaining Facility Mortgages (including any refinancing of any Existing Facility Mortgage), with respect to the Provident Lessors' fee interests in the Facilities.

  • Notwithstanding the foregoing, if, in connection with the Existing Facility Mortgage, Landlord is unable to obtain from the Facility Mortgagee an agreement not to disturb Tenant's right to possession in the event of a foreclosure of such Existing Facility Mortgage, then Tenant shall have the right, at Tenant's sole election, to pay directly to the Facility Mortgagee all monthly payments due and payable or otherwise required thereunder.

  • Except with respect to the Reserved Due Diligence Matters, (i) Lessee hereby advises Lessor that Lessee is satisfied with the results of its due diligence review of the Leased Property of each Facility, the Facilities themselves and the operations thereof, including the terms of the Existing Facility Mortgage Loan Documents and (ii) Lessee hereby waives its right to terminate the Lease pursuant to Section 48.2.2 of the Lease with respect to all other matters set forth in Section 48.2.1(a) of the Lease.

  • The parties acknowledge that, as of the Commencement Date, the Leased Property will be subject to an existing Facility Mortgage in favor of Omega (the "Existing Facility Mortgage").

  • Landlord shall deliver to Tenant drafts of all proposed new Facility Mortgage loan documents and any proposed revision of the insurance requirements of an Existing Facility Mortgage at least fifteen (15) Business Days prior to entering into or agreeing to be bound by the same.

  • The parties acknowledge that as of the Commencement Date the Leased Property will be subject to an existing Facility Mortgage (the “Existing Facility Mortgage”) in favor of the Ohio Valley Bank (the “Existing Facility Mortgagee”) and that such Existing Facility Mortgage (and one or more refinancings thereof) may provide for the financing of the cost of the construction of the Facility and other purposes during all or a portion of the Lease Term.

Related to Existing Facility Mortgage

  • Facility Mortgage As defined in Section 13.1.

  • Facility Mortgagee means the holder of any Facility Mortgage.

  • Existing Facility means a facility in existence on any given date, newly constructed or altered.

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

  • Fee Mortgage Any mortgage, pledge agreement, security agreement, assignment of leases and rents, fixture filing or similar document creating or evidencing a lien on Landlord’s interest in the Leased Property or any portion thereof (or an indirect interest therein, including without limitation, a lien on direct or indirect interests in Landlord) in accordance with the provisions of Article XXXI hereof.

  • Existing Facility Agreement means Existing Facility Agreement A, Existing Facility Agreement B, Existing Facility Agreement C and Existing Facility Agreement D and, in the plural, means all of them;

  • Existing Facilities means all existing buildings and other facilities, the sites for the buildings or facilities, and furnishings or equipment for the buildings or facilities located on real property acquired by the building authority under the terms of this act.

  • Landlord Personal Property Collateral Access Agreement means a Landlord Waiver and Consent Agreement substantially in the form of Exhibit K with such amendments or modifications as may be approved by Collateral Agent.

  • Off-site facility means a structural BMP located outside the subject property boundary described in the permit application for land development activity.

  • Refinancing Facility Agreement means a Refinancing Facility Agreement, in form and substance reasonably satisfactory to the Agent, among Holdings, the Borrower, each Subsidiary of the Borrower party to this Agreement, the Agent and one or more Refinancing Lenders, establishing Refinancing Commitments and effecting such other amendments hereto and to the other Loan Documents as are contemplated by Section 2.26.

  • Refinancing Facility has the meaning specified in Section 2.16(a).

  • Common Facility Means a place where tenants utilise the same equipment such as kitchen, laundry meeting room and or car park.

  • Secure facility or "detention home" means a local, regional or state public or private locked

  • Property Owner Association Property means, for each Fiscal Year, any property within the boundaries of IA No. 1 that was owned by a property owner association, including any master or sub-association, as of January 1 of the prior Fiscal Year.

  • Ground Lease means a lease creating a leasehold estate in real property where the fee owner as the ground lessor conveys for a term or terms of years its entire interest in the land and buildings and other improvements, if any, comprising the premises demised under such lease to the ground lessee (who may, in certain circumstances, own the building and improvements on the land), subject to the reversionary interest of the ground lessor as fee owner. With respect to any Mortgage Loan where the Mortgage Loan is secured by a Ground Leasehold estate in whole or in part, and the related Mortgage does not also encumber the related lessor’s fee interest in such Mortgaged Property, based upon the terms of the Ground Lease and any estoppel or other agreement received from the ground lessor in favor of Mortgage Loan Seller, its successors and assigns (collectively, the “Ground Lease and Related Documents”), Mortgage Loan Seller represents and warrants that:

  • Landlord Access Agreement means a Landlord Access Agreement, substantially in the form of Exhibit G, or such other form as may reasonably be acceptable to the Administrative Agent.

  • Primary Mortgage Insurance Policy Any primary mortgage guaranty insurance policy issued in connection with a Mortgage Loan which provides compensation to a Mortgage Note holder in the event of default by the obligor under such Mortgage Note or the related Security Instrument, if any or any replacement policy therefor through the related Interest Accrual Period for such Class relating to a Distribution Date.

  • Existing Project means a project declared under commercial operation prior to the date of effectiveness of these Regulations;

  • Construction Loan Agreement means the Loan Agreement to be entered into by and between the Construction Lender and the Partnership, as amended.

  • Financing Lease any lease of property, real or personal, the obligations of the lessee in respect of which are required in accordance with GAAP to be capitalized on a balance sheet of the lessee.

  • Facility Leases means agreements for the lease by the Company or any of its Subsidiaries or Joint Ventures of real estate utilized as a vehicle parking facility and/or for ancillary parking and transportation services.

  • New Lease Any lease of REO Property entered into on behalf of REMIC I, including any lease renewed or extended on behalf of REMIC I, if REMIC I has the right to renegotiate the terms of such lease.

  • Mortgage guaranty insurance means surety insurance under which a mortgagee or other creditor is indemnified against losses caused by the default of a debtor.

  • Mezzanine Loan Agreement means that certain Mezzanine Loan Agreement, dated as of the date hereof, between Mezzanine Borrower and Mezzanine Lender, as the same may be amended, restated, replaced, supplemented or otherwise modified from time to time.

  • Cooperative Lease With respect to a Cooperative Loan, the proprietary lease or occupancy agreement with respect to the Cooperative Apartment occupied by the Mortgagor and relating to the related Cooperative Stock, which lease or agreement confers an exclusive right to the holder of such Cooperative Stock to occupy such apartment.

  • approved facility means any private practice, hospital, clinic or other health facility in Namibia defined in section 1 of the Hospitals and Health Facilities Act, 1994 (Act No. 36 of 1994), approved by the Council for the purpose of the training of hearing aid acoustics interns, and “facility” has a corresponding meaning;