Examples of Junior Mortgage Loan in a sentence
With respect to any Junior Mortgage Loan, a partial release pursuant to this Section 3.13 shall be permitted only if the Combined Loan-to-Value Ratio for such Mortgage Loan after such partial release does not exceed the Combined Loan-to-Value Ratio for such Mortgage Loan as of the Cut-off Date.
The Junior Mortgage Loan is secured by, among other things, a mortgage on the Hotel that is junior to the mortgage securing the Senior Mortgage Loan.
With respect to Mortgaged Property subject to a Junior Mortgage Loan, on the origination date such Mortgaged Property was covered by a generally acceptable insurer against loss by fire, hazards covered by extended coverage insurance and such other hazards as are provided for in the applicable Agency, FHA, VA, RHS or HUD guidelines, as well as all additional requirements set forth in the Agency Guidelines or Asset Guidelines.
Junior Mortgage Loan" shall mean a Mortgage Loan secured or collateralized by a Junior Mortgage, and also includes any Subordinated Land Purchase-Leaseback.
Pursuant to the terms of the Mortgage, all buildings or other improvements upon the Mortgaged Property (other than Mortgaged Property subject to a Junior Mortgage Loan) are insured by a generally acceptable insurer against loss by fire, hazards covered by extended coverage insurance and such other hazards as are provided for in the applicable Agency, FHA, VA, RHS or HUD guidelines, as well as all additional requirements set forth in the Agency Guidelines or Asset Guidelines.