Examples of Existing Mortgaged Property in a sentence
In addition, the Central Servicer may in its discretion permit the substitution of an Eligible Substitute Mortgaged Property for an Existing Mortgaged Property so long as the Mortgage Note relating to the Qualified Loan that the Existing Mortgaged Property secures is a Recourse Obligation.
Within thirty (30) days of the date hereof (or such later date as the Agent may agree in its Permitted Discretion), the applicable Borrowers shall deliver to Agent, in form and substance acceptable to Agent, executed amendments to each Mortgage and title policy with respect to the Existing Mortgaged Property, Lucerne Property and Xxxxxxx Property.
Upon the Restatement Effective Date, the Administrative Agent is hereby irrevocably authorized by each Lender (without requirement of notice to or consent of any Lender except as expressly required by Section 10.1) to release each Existing Mortgaged Property.
To the extent not delivered on or prior to the Restatement Date, Company shall, and shall cause each of its Subsidiaries to, use commercially reasonable efforts to deliver within 90 days after the Restatement Date, for each Existing Mortgaged Property consisting of a Leasehold Property, evidence that such Leasehold Property is a Recorded Leasehold Interest.
With respect to each Real Property Asset listed in Part I (Existing Mortgages) of Schedule 4.5(c) other than the Excluded Assets (each an "Existing Mortgaged Property"), a fully executed and notarized Existing Mortgage Amendment, in proper form for recording in all appropriate places in all applicable jurisdictions.