Facility Mortgage definition

Facility Mortgage. As defined in Section 13.1.

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Facility Mortgage means any Encumbrance placed upon the Leased Property, or any portion thereof, in accordance with Article 20.

Facility Mortgage means any mortgage, deed of trust or other security agreement or lien encumbering the Premises or any portion thereof and securing an indebtedness of Sublessor or any Affiliate of Sublessor or any ground, building or similar Sublease or other title retention agreement to which the Premises or any portion thereof is subject from time to time.

Examples of Facility Mortgage in a sentence

• If reasonably requested by Tenant in connection with a sublease permitted under clause (b) above, Landlord and such sublessee shall enter into a subordination, non-disturbance and attornment agreement with respect to such sublease in a form reasonably satisfactory to Landlord (and if a Facility Mortgage is then in effect, Landlord shall use reasonable efforts to cause the Facility Mortgagee to enter into such subordination, non-disturbance and attornment agreement).

• For purposes of the foregoing, any proposed implementation of new financial covenants shall be deemed to diminish Tenant’s rights under this Lease in a material respect (it being understood that Landlord may agree to such financial covenants in any Facility Mortgage Documents and such financial covenants will not impose obligations on Tenant).

• Notwithstanding anything herein to the contrary, in the event that any Facility Mortgagee is entitled to any Award, or any portion thereof, under the terms of any Facility Mortgage or related financing agreement, such Award shall be applied, held and/or disbursed in accordance with the terms of the Facility Mortgage or related financing agreement.

• Except as otherwise set forth herein, any property insurance loss adjustment settlement shall require the written consent of Landlord, Tenant, and each Facility Mortgagee (to the extent required under the applicable Facility Mortgage Documents) unless the amount of the loss net of the applicable deductible is less than Two Million Five Hundred Thousand Dollars ($2,500,000) in which event no consent shall be required.

• Notwithstanding the foregoing, nothing herein shall prohibit Tenant from insuring against risks not required to be insured hereby, and as to such insurance, Landlord and any Facility Mortgagee need not be included therein as additional insureds, nor must the loss thereunder be payable in the same manner as losses are payable hereunder except to the extent required to avoid a default under the Facility Mortgage.

More Definitions of Facility Mortgage

Facility Mortgage. As defined in Article XIII.

Facility Mortgage has the meaning set forth in Section 12.1.

Facility Mortgage means any Encumbrance placed upon the Leased Property in accordance with Article XIX.

Facility Mortgage means a mortgage, deed of trust or other security agreement securing any indebtedness or any other Landlord's Encumbrance placed on the Property in accordance with the provisions of Article 25.

Facility Mortgage means, with respect to the Leased Property, any encumbrance securing the repayment of indebtedness (and including any obligations in connection with credit enhancement) now or hereafter placed upon the Leased Property and approved by the parties hereto, provided the Leased Property is then subject to the terms of this Lease, together with all other documents and instruments evidencing or securing the indebtedness secured thereby.

Facility Mortgage means any mortgage or deed of trust secured by the Facility.

Facility Mortgage shall have the meaning ascribed to such term in Section 14.1.