Junior Mortgages definition

Junior Mortgages means, in relation to the Junior Loan, the third priority mortgages on each Ship (fully subordinated and subject to any mortgage to secure the Senior Loans) in each case as security for any and all monies due to the Junior Lenders in respect of the Junior Loan and, in the singular, means any of them;
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Junior Mortgages means, collectively, those certain Mortgages made by the Borrower in favor of the Seller, which provide the Seller with a second position mortgage lien in the Real Estate (such Mortgages being junior and subject to the Mortgages in favor of the Lender in the Real Estate) in order to secure the obligations to the Seller pursuant to the Seller Note.
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Junior Mortgages means, collectively (a) mortgages covering Borrower's owned and leased real property interests in the State of Washington to be executed by Borrower in the form attached to the Senior Credit Agreement as Exhibit C, and (b)(i) a mortgage covering Borrower's owned and leased real property interests in the State of Oregon to be executed by Borrower in the form attached to the Senior Credit Agreement as Exhibit C, and (ii) an addendum to such mortgage to be executed by Borrower in the form attached hereto as Exhibit III.
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Examples of Junior Mortgages in a sentence

  • All Junior Mortgages existing as of the date hereof, if any, are in good standing, all principal, interest and other payments due thereunder have been paid in accordance with the terms thereof, there is no default thereunder and no event has occurred which with due notice or the lapse of time, or both, would constitute a default thereunder.

  • Figure 3-2 through Figure 3-6 details the fabrication process flow with the final device structure shown in Figure 3-6(b).

  • The Senior and Junior Mortgages include language granting ABC a security interest in rents and profits.

  • The Borrower shall not amend, modify or supplement any of the Acquisition Documents (including, including, without limitation, the Seller Notes and the Junior Mortgages) in any manner that would or is reasonably likely to adversely affect the Lender’s interests or rights under this Agreement and the other Financing Agreements to which Borrower is a party or the likelihood that the Liabilities will be paid in full when due, without the Lender’s prior written consent.

  • Acceleration Class 13, April 7, 2022 Topic: Junior Mortgages Assignment: M&S pp.

  • CA xxxx xxxx xxxx 6000000174 xxxx 1 N/A N/A CA xxxx xxxx xxxx 6000000175 xxxx 3 Junior Mortgage(s) of Record Subject Not in 1st Position Junior Mortgage of Record.

  • The Pre-Petition Loan matured August 2017 and the Debtors acknowledge and agree that the Pre-Petition Debt is due with offset, counterclaim or defense and the Junior Mortgages are duly perfected mortgages and liens upon the Real Property securing the Pre- Petition Debt.

  • Both Kent Wildlife Trust and Tunbridge Wells Commons Conservators have raised concerns over the impact of increased recreational use of the site as a result of new residential development close to the Local Wildlife Site.

  • Upon execution of this Agreement, GBC II shall deposit with Escrowee releases with respect to the Senior Mortgages, Junior Mortgages, Third Mortgages, Senior ALRs, Junior ALRs, Third ALRs and UCC financing statement amendments terminating the effectiveness of the UCC-1 financing statements pertaining to Project One, Project Two and Project Four.

  • E.D. Va. 1998) (addressing three possible attacks on the argument that an allowed unsecured lien is voidable); see also Michael Myers, Note, Dewsnup Strikes Again: Lien- Stripping of Junior Mortgages in Chapter 7 and Chapter 13, 53 ARIZ.


More Definitions of Junior Mortgages

Junior Mortgages means the second priority and/or second preferred mortgages over each Junior Vessel, in the agreed form, executed or to be executed in favour of the Security Trustee or, in respect of any Junior Vessel of a member of the SNSA Group, in favour of the Agent.
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Junior Mortgages means each mortgage, deed of trust, and any other document or instrument (other than this Agreement) under which any Lien on real property owned or leased by any Grantor is granted to secure any Junior Lien Obligations or under which rights or remedies with respect to any such Liens are governed.
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Junior Mortgages means the “Mortgages” as defined in the Junior Term Loan Agreement.
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Junior Mortgages the "Second Mortgage" and the "Third Mortgage" set forth in the Mortgage hereby are deleted in their entirety, and all references to the "Junior Mortgages", the "Second Mortgage" and the "Third Mortgage" in the Mortgage and the other Loan Documents hereby are omitted; (c) All references in the Loan Documents to the "Borrower" shall be to the Borrower as herein defined; (d) Section 8(w) is renumbered as Section 8(x) and the following text is added to Section 8, as new item (w): "(w) Borrower has, and at all times will maintain one independent director; and"; and (e) All references to any of the Loan Documents in any of the other Loan Documents shall be deemed to apply to such Loan Document as herein amended. Except as specifically set forth herein, each of the terms, conditions, representations and warranties of the Note and the other Loan Documents (including without limitation the Mortgage, the Assignment of Leases and Rents, and the Environmental Indemnification Agreement (as such terms are defined in the Loan Agreement)) shall remain unmodified and in full force and effect, and hereby are expressly reaffirmed by Borrower (with time remaining of the essence thereunder and hereunder). Without limiting the foregoing, Borrower expressly acknowledges and agrees that Borrower shall have no right to consent, create, incur or assume any Indebtedness other than the Loan and as otherwise permitted in Sections 4.4(a)(ii) through 4.4(a)(iv) of the Loan Agreement, nor shall Borrower consent, create, incur or assume any Indebtedness in violation of Section 8.1(h) of the Loan Agreement or of any other provision of the Loan Documents (as herein amended).
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Related to Junior Mortgages

  • Mortgages means, individually and collectively, one or more mortgages, deeds of trust, or deeds to secure debt, executed and delivered by Parent or its Subsidiaries in favor of Agent, in form and substance reasonably satisfactory to Agent, that encumber the Real Property Collateral.

  • Existing Mortgages means each of the mortgages, deeds of trust or other agreements made pursuant to the Existing Credit Agreement by any Loan Party in favor of the Agent for the benefit of the Agent and the Lenders.

  • Existing Mortgage has the meaning specified in Section 5.02(a)(vi).

  • Reverse mortgage means a nonrecourse loan under which both of the following apply:

  • Purchase Money Mortgage means a mortgage secured by a first lien or junior lien taken or retained by the seller of real property to secure all or part of the purchase price of the property.

  • Group 3 Mortgage Loans Those Mortgage Loans identified on the Mortgage Loan Schedule as Group 3 Mortgage Loans.

  • Group 3 Mortgage Loan Each Mortgage Loan listed on Exhibit D-3 hereto.

  • Mortgage shall have the meaning assigned to such term in the recitals.

  • First Mortgage means a Mortgage that constitutes a first Lien on the real property and improvements described in or covered by that Mortgage.

  • Second Lien Mortgage Loan A Mortgage Loan secured by a second lien Mortgage on the related Mortgaged Property.

  • Mortgage Debt means (i) debt secured only by real property at the time of the MSPLF Loan’s origination;2 and (ii) limited recourse equipment financings (including equipment capital or finance leasing and purchase money equipment loans) secured only by the acquired equipment.

  • First Lien Mortgage Loan A Mortgage Loan secured by a first lien Mortgage on the related Mortgaged Property.

  • Group 2 Mortgage Loan Each Mortgage Loan listed on Exhibit D-2 hereto.

  • Group 2 Mortgage Loans Those Mortgage Loans identified on the Mortgage Loan Schedule as Group 2 Mortgage Loans.

  • Group 1 Mortgage Loan Each Mortgage Loan listed on Exhibit D-1 hereto.

  • Subordinate Note means each B Note.

  • Additional Mortgaged Property has the meaning assigned to that term in subsection 6.9.

  • Group 1 Mortgage Loans Those Mortgage Loans identified on the Mortgage Loan Schedule as Group 1 Mortgage Loans.

  • Facility Mortgage As defined in Section 13.1.

  • Ship Mortgage shall have the meaning set forth for such term in the Intercreditor Agreement. Notice of Assignment ASSIGNMENT OF INSURANCE BY INTERNAL CHARTERERS Vantage Driller I Co. NOTICE OF ASSIGNMENT To Whom It May Concern: Vantage Driller IV Co., an exempted company incorporated with limited liability under the laws of the Cayman Islands (the “Assignor”), HEREBY GIVES NOTICE that by an Assignment, dated October 25, 2012, and made by the Assignor to Xxxxx Fargo Bank, National Association (the “Assignee”), as Pari Passu Collateral Agent (as defined under the Intercreditor Agreement defined below), the Assignor assigned to the Assignee all of the Assignor’s right, title and interest in and to all insurances and the benefit of all insurances heretofore, now or hereafter taken out in respect of the Panamanian flag vessel TOPAZ DRILLER and all proceeds thereof. This Notice and the attached Loss Payable Clauses are to be endorsed on all policies and certificates of entry evidencing such insurances.

  • Class P Mortgage Loan Any of the Class I-P, Class II-P or Class III-P Mortgage Loans.

  • Deeds of Trust means, individually or collectively, a Deed of Trust, Assignment and Security Agreement, a Mortgage, Assignment and Security Agreement, an Indemnity Deed of Trust, Assignment and Security Agreement or an Indemnity Mortgage, Assignment and Security Agreement or comparable security documents covering Property and securing the Obligations as the same may be from time to time amended, modified, restated or substituted.

  • Subordinate Notes means the B Notes and the C Notes, individually or collectively, as the context may require.

  • Group II Mortgage Loans The Mortgage Loans identified on the Mortgage Loan Schedule as Group II Mortgage Loans.