First Mortgages definition

First Mortgages means all first priority ship mortgages, dated [●], 2016 in favor of the First Mortgagee covering the Vessels.

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First Mortgages means the first priority mortgage and the deed of covenants collateral thereto to be executed and recorded by the relevant Owner against each of the Units in the Bahamas Ship Register (or such other ship register acceptable to the Agent) in favour of the Agent as security for the obligations of the relevant Owner under the Finance Documents in relation to the Senior Facilities, in such form and substance the Agent may require.

First Mortgages means the First Mortgage - Construction Financing and the First Mortgage - Permanent Financing.

Examples of First Mortgages in a sentence

• If requested by the Bank, Borrower shall furnish to the Bank a written report covering such matters regarding the Collateral as the Bank may require, including, without limitation: listings of First Mortgages and Securities and unpaid principal balances thereof; and certifications concerning the status of payments of First Mortgages and of taxes and Insurance on properties securing First Mortgages and Other Real Estate Related Collateral.

• Detailed summaries of all EPR Senior Property Loans and related EPR Senior First Mortgages, in form and substance reasonably satisfactory to the Agent.

• All such action as will be necessary or advisable to establish such Lien of the Collateral Agent and its priority as described in the preceding sentence will be taken at or prior to the time required for such purpose, and there will be as of the date of execution and delivery of the First Mortgages not necessity for any further action in order to protect, preserve and continue such Lien and such priority.

• The Liens granted to the Collateral -------------------- Agent for the benefit of the Banks pursuant to the First Mortgages constitute a valid first priority Lien under applicable law, subject only to Permitted Liens.

• For First Mortgages, the lien of the Mortgage securing the consolidated principal amount is expressly insured as having first lien priority by a title insurance policy, an endorsement to the policy insuring the mortgagee's consolidated interest or by other title evidence acceptable to the Trustee.

More Definitions of First Mortgages

First Mortgages means, any two (2) or more First Mortgages or, as the context may require, all of the First Mortgages in respect of the Property.

First Mortgages means the first preferred Liberian ship mortgages on the First Vessels, to be executed by the relevant Guarantor in favor of the Security Agent (as trustee for the Lenders), substantially in the form of Exhibit E;

First Mortgages means that document (or those documents) identified on Exhibit B hereto as a “First Mortgage” or a “First Deed of Trust” executed by Borrower and encumbering real property legally described in Exhibit C hereto.

First Mortgages means collectively, the Fort ▇▇▇▇▇ First Mortgage and the Development Properties First Mortgages.

First Mortgages or “First Mortgagee(s)” shall mean and refer to one having priority as to all of the other Mortgages or holders of Mortgages encumbering the same Lot, the Common Area or any other portions thereof.

First Mortgages means the English First Mortgages, the Scottish First Mortgages and the Northern Irish First Mortgages;

First Mortgages means the First Naval Mortgage covering the Drillship dated as of August 6, 1998 between Transocean Hull No. 275 S. de ▇.▇. and the Collateral Agent, as assumed by the Borrower and the First Naval Mortgage covering the Rig dated as of January 17, 1997, between the Borrower and the Collateral Agent, as each mortgage may be amended, restated or supplemented from time to time.