First Mortgage Loans definition

First Mortgage Loans means Mortgage Loans secured or collateralized by First Mortgages.

First Mortgage Loans means collectively (i) the mortgage loans identified on Schedule I to this Agreement and (ii) the Permitted Refinancing Loans, if any. "First Mortgage Loan" means individually any of the First Mortgage Loans.

First Mortgage Loans means the construction and initial permanent loan for the Project, obtained by the Partnership with the consent of both General Partners as provided in Section 4.04 hereof, repayment of which is secured by a first mortgage lien on the Project, and any refinancings or replacements thereof. It is contemplated that the First Mortgage Loan shall initially be the Mitsubishi Credit Facility.

Examples of First Mortgage Loans in a sentence

• During periods where the Company’s portfolio consists largely of Whole Loans (as defined in the final prospectus for the Initial Public Offering), the Company may borrow up to 65% of the principal of such loans pending tranching of such loans and sale of First Mortgage Loans resulting from such tranching.

• In certain cases, the Trust may acquire one or more First Mortgage Loans or Junior Mortgage Loans or accounts receivable from existing creditors of such obligations or title to a particular property or an equity interest in the entity which owns title to a particular property at a discount to the appraised value of such property or equity interest determined at the time of such acquisition.

• Make any unsecured borrowing if such borrowing will result in an asset coverage of less than 300% unless at the time of borrowing at least 80% of the Trust's Total Assets consist of First Mortgage Loans.

• The Manager(s) will agree that Management Agreements (as defined in the First Mortgage Loan Agreements) are subject and subordinate in all respects to the Liens of the applicable First Mortgage Loans.

• Neither Seller's interest in the Anchor Leases nor Seller’s interest in any of the Rentals due or to become due under the Anchor Leases have been assigned or encumbered, other than as security for the First Mortgage Loans.

More Definitions of First Mortgage Loans

First Mortgage Loans. $12,300,000 Second Mortgage Loan: $ 1,010,000 General Partner Equity: $ 227,116 Limited Partner Equity: $ 2,895,280 Application of Funds Total Construction Cost $1,439,065 Soft Costs $12,654,692 Land $1,250,000 Development Fee $1,092,513

First Mortgage Loans means Mortgage Loans secured, or collateralized, at the time of acquisition thereof by the Trust, by First Mortgages;

First Mortgage Loans means Mortgage Loans secured or collateralized by First Mortgages. "Fiscal Year" shall mean any period for which an income tax return is submitted to the Internal Revenue

First Mortgage Loans shall refer to the fixed or adjustable rate mortgage loans secured by first liens on single family residential real property (including, without limitation, planned unit developments) certain documents relating to which have been delivered to the Custodian pursuant to the Custody Agreement.

First Mortgage Loans means loans to Mortgagors secured by a First Mortgage, the proceeds of which will be used to acquire financed Residential Housing Units, and which back Program Securities.

First Mortgage Loans means, collectively, that certain Loan (as defined in the 1997 First Mortgage Loan Agreement) and that certain Loan (as defined in the 1996 First Mortgage Loan Agreement), and "First Mortgage Loan" means any one of them. "First Mortgage Loans Excess Cash Flow" means, collectively, the Excess Cash Flow (as defined in the 1997 First Mortgage Loan Agreement), and the Excess Cash Flow (as defined in the 1996 First Mortgage Loan Agreement).

First Mortgage Loans means performing loans secured by first liens in multifamily or commercial properties.