First Lien Mortgage definition

First Lien Mortgage means that certain first lien mortgage granted by Borrower as of the same date hereof.

First Lien Mortgage means a mortgage, deed of trust, assignment of leases and rents, leasehold mortgage or other security document granting a Lien on any First Lien Mortgaged Property to secure the Secured Obligations. Each First Lien Mortgage shall be in form and substance reasonably satisfactory to the Collateral Agent and the Borrower.

First Lien Mortgage. A mortgage lien on a Mortgaged Property which is first in priority to any other mortgage liens on that Mortgaged Property.

Examples of First Lien Mortgage in a sentence

• Each related Mortgage is a valid, subsisting and enforceable First Lien (with respect to a First Lien Mortgage Loan) or Second Lien (with respect to a Second Lien Mortgage Loan) on the related Mortgaged Property, including all improvements on the Mortgaged Property.

• A.5 – International First Lien Mortgage This section provides general guidance and data definitions for the International First Lien Mortgage Worksheet.

• The Mortgage is a valid, subsisting and enforceable first lien (with respect to a First Lien Mortgage Loan) or second lien (with respect to a Second Lien Mortgage Loan) on the Mortgaged Property, including all buildings and improvements on the Mortgaged Property and all installations and mechanical, electrical, plumbing, heating and air conditioning systems located in or annexed to such buildings, and all additions, alterations and replacements made at any time with respect to the foregoing.

• The lien of the Mortgage securing the consolidated principal amount is expressly insured as having first lien priority (with respect to a First Lien Mortgage Loan) or second lien priority (with respect to a Second Lien Mortgage Loan) by a title insurance policy, an endorsement to the policy insuring the mortgagee's consolidated interest or by other title evidence acceptable to Fannie Mae and Freddie Mac.

• A.5 – International First Lien Mortgage‌ This section provides general guidance and data definitions for the International First Lien Mortgage Worksheet.

More Definitions of First Lien Mortgage

First Lien Mortgage means any replacement deed of trust entered into in connection with such refinancing, extension or replacement.

First Lien Mortgage means the First Lien Deed of Trust, Security Agreement, Assignment of Rents and Leases and Fixture Filing, dated as of the date hereof, from NW Spectrum Co., as Grantor, to the First Lien Collateral Agent, as Beneficiary. After any refinancing, extension or replacement of any Indebtedness under the First Lien Notes pursuant to the terms of the Intercreditor Agreement, the term “First Lien Mortgage” shall mean any replacement deed of trust entered into in connection with such refinancing, extension or replacement.

First Lien Mortgage shall have the meaning ascribed to such term in the preliminary statement of this Agreement.

First Lien Mortgage. A mortgage, deed of trust or other instrument, which creates a first priority lien on or ownership interest in the related Mortgaged Property securing the related Mortgage Note, including any rider incorporated therein by reference.

First Lien Mortgage. Except as set forth in the Mortgage Schedule, Seller has received no written notice, nor, to Seller's Knowledge, does Seller have any knowledge, that any Mortgage is not a legal, valid and enforceable first lien on the related Mortgaged Property, including all buildings thereon and fixtures attached thereto, subject only to (a) the lien of current real property taxes, ground rents, water charges, sewer rents and assessments not yet due and payable, (b) covenants, conditions and restrictions, rights of way, easements and other matters of public record specifically referred to in the title insurance policy, and (c) other matters to which like properties are commonly subject (each of the matters described in clauses (a), (b), and (c), a "Permitted Exception").

First Lien Mortgage has the meaning assigned to that term in the applicable Mortgage.

First Lien Mortgage means a First Lien/Third Lien Mortgage solely to the extent it constitutes a First Lien Collateral Document.