Institutional Mortgage definition

Institutional Mortgage as used in this Article XVII means a mortgage securing a loan from a bank (commercial or savings) or trust company, insurance company or pension trust or any other lender institutional in nature and constituting a lien upon the Leased Premises.

Institutional Mortgage means any first mortgage covering one or more Units that is a Permitted Mortgage and the initial holder of which is either Sponsor or an Institutional Lender.

Institutional Mortgage means and refer to a Mortgage held by a bank, trust company, insurance company, or other recognized lending institution, or by an institutional or governmental purchaser of mortgage loans in the secondary market, such as Federal National Mortgage Association or Federal Home Loan Mortgage Corporation.

Examples of Institutional Mortgage in a sentence

• In such event, any partial Taking award shall be paid first to the Tenant in an amount equal to the greater of (i) the unamortized cost of any Improvements constructed by Tenant on the portion of the Premises subject to the Taking; or (ii) the amount necessary to discharge or, if such amount is insufficient, to reduce any Permitted Institutional Mortgage.

• Notwithstanding the foregoing, however, if the Tenant has constructed the Improvements, Landlord shall not share in any Taking award with respect to the Improvements unless and until the unpaid balance of the Permitted Institutional Mortgage (as defined in Section 12.3 below) on the Premises, if any, is paid in full, all such Taking proceeds being used first to pay off and discharge such Permitted Institutional Mortgage.

• Tenant shall promptly deliver to Landlord a true copy of the Permitted Institutional Mortgage.

• Coverage limits will be in amounts generally required by private Institutional Mortgage holders for projects similar in construction, location and use to the Project; provided, however, that such coverage will be for at least $1,000,000 for bodily injury, including death of persons, and property damage arising out of a single occurrence.

• The loss, if any, under such policies shall be adjusted with the insurance companies by Tenant and shall be payable to Tenant and Landlord as the loss payees as their interests may appear, unless required otherwise by the terms of any Permitted Institutional Mortgage (defined in Section 14.2).

More Definitions of Institutional Mortgage

Institutional Mortgage is a Mortgage granted to an Institution. An "Institution" is a bank, insurance company, trust company, savings and loan association, real estate investment trust, pension trust, governmental entity or similar institution. An "Institutional Mortgagee" is the holder of Mortgage of Owner's interest in the Riverboat.

Institutional Mortgage is a mortgage and/or security interest held by an Institutional Lender on the interest of Lessor in the Property.

Institutional Mortgage is defined in Section 13.01.

Institutional Mortgage means and refer to any bona-fide mortgage, lien or security interest held by a bank, trust company, insurance company, savings and loan association or other recognized lending institution, or by an institutional or governmental purchaser of mortgage loans in the secondary market, such as Federal National Mortgage Association, ("FNMA"), Federal Home Loan Mortgage Corporation ("FHLMC"), The Federal Housing Administration ("FHA"), The Veterans Administration ("VA"), or their successors, or guaranteed or subsidized by the FHA and/or VA.

Institutional Mortgage means and refer to any mortgage by an Institutional Lender.

Institutional Mortgage means a mortgage held by an Institutional Mortgagee on any property within Port Orange Plantation.

Institutional Mortgage and "INSTITUTIONAL MORTGAGEE" shall mean, respectively, a Mortgage held by an Institution and the holder of an Institutional Mortgage;