Existing Mortgage Indebtedness definition

Existing Mortgage Indebtedness means any and all obligations of a Seller with respect to indebtedness secured by a mortgage, deed of trust, deed to secure debt or the like encumbering such Seller’s Real Property.

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Existing Mortgage Indebtedness means the indebtedness evidenced and secured by the Existing Loan Documents and listed on Section 1.1(u) of the Paladin Disclosure Schedule.

Existing Mortgage Indebtedness means certain existing Indebtedness of Sun and the Subsidiaries, in an aggregate outstanding principal amount not in excess of (a) on the Closing Date, $165,318,355 or (b) in the event that the Declaration Date Transactions have been consummated on or prior to the Outside Date, as from the Declaration Date, $8,160,528.

Examples of Existing Mortgage Indebtedness in a sentence

There are no documents or other instruments evidencing or securing the Existing Mortgage Indebtedness other than the Existing Loan Documents.
In the event that Parent elects to waive the condition set forth in Section 8.2(d) with respect to one or more Properties and pre-pay or defease any Existing Mortgage Indebtedness with respect to such Property or Properties, Parent shall bear all costs and fees, including, without limitation, any prepayment penalties or yield maintenance amounts, in connection therewith.
Notwithstanding any provision in this Agreement to the contrary, at Closing, Parent shall execute such documents and take such action as each Existing Lender under the Existing Mortgage Indebtedness may require in order to cause Paladin, Paladin OP and any Subsidiary (other than a JV Subsidiary) of Paladin OP to be released from any liability, including under any guaranties, pursuant to the Existing Mortgage Indebtedness.
Make or permit any Subsidiary of any Borrower to (i) prepay or repurchase, directly or indirectly, any portion of (x) the Existing Mortgage Indebtedness or (y) the IRB Indebtedness or (ii) amend or modify (x) any agreement, instrument, or document evidencing or relating to Existing Mortgage Indebtedness or (z) any agreement, instrument or document relating to the IRB Indebtedness, in either case in a manner materially adverse to Borrowers or Agent and Lenders.
In the event the Lien securing any Existing Mortgage Indebtedness (or any permitted refinancing thereof) is released, the Borrower will promptly secure the Obligations by pledging or creating, or causing to be pledged or created, perfected security interests with respect to such released assets and properties.
Promptly following the date hereof, Transferor shall deliver to Midland Loan Services, Inc., the servicer of the Mortgage Indebtedness, a notice and estoppel in the form attached hereto as Exhibit S and made a part hereof (the "Mortgage Lender Consent"), advising Mortgage Lender of the sale and transfer of the Property to Designee subject to and upon Designee's assumption, subject to the non-recourse provisions thereof, of the Existing Mortgage Indebtedness.
Liens on certain real estate of the Borrowers securing the Existing Mortgage Indebtedness.
Existing Mortgage Indebtedness – money borrowed owed by Borrowers in the aggregate principal amount of Seven Million One Hundred Six Thousand Dollars ($7,106,000) as of the Closing Date.
Immediately after giving effect to the Transactions and the other transactions contemplated hereby, Sun and the Subsidiaries shall have outstanding no Indebtedness or preferred stock other than (a) Indebtedness outstanding under this Agreement and (b) Indebtedness set forth on Schedule 6.01 (including the Subordinated Notes) and Existing Mortgage Indebtedness.
In the event the Lien securing any Existing Mortgage Indebtedness (or any permitted refinancing thereof) is released, Sun will promptly secure the Obligations by pledging or creating, or causing to be pledged or created, perfected security interests with respect to such released assets and properties.

More Definitions of Existing Mortgage Indebtedness

Existing Mortgage Indebtedness means any obligations of a Seller with respect to mortgage indebtedness encumbering such Seller’s Real Property.

Existing Mortgage Indebtedness means Indebtedness owed by TDC in the aggregate principal amount of approximately $4,800,000 in connection with the existing mortgage financing at TDC’s property located at ▇ ▇▇▇▇▇▇▇▇▇▇▇ ▇▇▇▇▇, ▇▇▇▇▇▇▇▇▇▇▇, ▇▇▇▇▇▇▇▇.

Existing Mortgage Indebtedness means (i) Harborside Facility Level Indebtedness in an aggregate outstanding principal amount on the Closing Date not in excess of $22,100,000 and (ii) certain existing Indebtedness of the Borrower and the Subsidiaries (including $50,000,000 in Indebtedness of Clipper), other than Harborside and the direct and indirect subsidiaries thereof, in an aggregate outstanding principal amount on the Closing Date not in excess of $136,200,000.