Lessee Mortgage definition

Lessee Mortgage means with respect to the Project, a mortgage, substantially in the form of Exhibit H hereto, pursuant to which the Lessee grants a first priority Lien on the Lessee's interest in the Project to the Company.
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Lessee Mortgage has the meaning set forth in Section 11.01 of the Lease.
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Lessee Mortgage has the meaning set forth in Section 11(a).
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Examples of Lessee Mortgage in a sentence

  • Borrower shall not and shall not permit Senior Mezzanine Borrower, Ashford Keys Senior Mezzanine Operating Lessee, Mortgage Borrower or Operating Lessee to issue any membership interests or other securities other than those that have been issued as of the date hereof.

  • Borrower is not a party to any agreement or instrument or subject to any restriction which would reasonably be expected to materially and adversely affect Borrower, Mezzanine A Borrower, Operating Lessee, Mortgage Borrower, the Pledged Collateral, the Mezzanine A Pledged Collateral or the Property, or Borrower’s, Mezzanine A Borrower’s or Mortgage Borrower’s or Operating Lessee’s business, properties or assets, operations or condition, financial or otherwise.

  • Such statements shall set forth the financial condition and the results of operations for the Properties for such Fiscal Year, and shall include, but not be limited to, amounts representing annual Net Cash Flow, Net Operating Income, Gross Income from Operations and Operating Expenses of Borrower, Operating Lessee, Mortgage Borrower, the Collateral, the Mortgage Collateral and the Properties.

  • Subject to Borrower’s right of contest (and to cause Mortgage Borrower or Hotel Lessee to contest) in accordance with Section 9.3, Borrower shall at all times comply and cause the Mortgage Borrower, Hotel Lessee and the Property to be in compliance in all material respects with all Legal Requirements applicable to Borrower, Hotel Lessee, Mortgage Borrower and the Property and the uses permitted upon the Property.

  • Mr. Zarnowic advised that the property has been sold and will be the site of an assisted living facility, which should address a majority of the neighbors' concerns.

  • Neither Borrower, Hotel Lessee nor Mortgage Borrower has received any written notice that Borrower, Hotel Lessee or Mortgage Borrower is in default in the performance, observance or fulfillment of any of the obligations, covenants or conditions contained in any agreement or instrument to which it is a party or by which Borrower, Hotel Lessee, Mortgage Borrower, the Collateral or the Property is bound and which would reasonably be expected to have a Material Adverse Effect.

  • Notwithstanding any provision of this Agreement to the contrary, the Parties agree that so long as any Lessee Mortgage remains outstanding, this Agreement shall not be modified or amended, and Owner shall not accept a surrender, cancellation, or release of all or any part of Lessee Property from Lessee, prior to expiration of the Term of this Agreement, without the prior written consent of the Lessee Mortgagee holding such Lessee Mortgage.

  • The Lessor and the Administrative Agent may foreclose the Lien of the Lessee Mortgage on all or any portion of the Facility and other Collateral.

  • Upon Administrative Agent’s reasonable request, Borrower shall, and shall cause Mortgage Borrower and Hotel Lessee to, provide such other information necessary and sufficient to fairly represent the financial condition of Borrower, Hotel Lessee, Mortgage Borrower and the Property.

  • Borrower is not a party to any agreement or instrument or subject to any restriction which would reasonably be expected to materially and adversely affect Borrower, Operating Lessee, Mortgage Borrower, the Pledged Collateral or the Property, or Borrower’s or Mortgage Borrower’s or Operating Lessee’s business, properties or assets, operations or condition, financial or otherwise.


More Definitions of Lessee Mortgage

Lessee Mortgage is defined in the ninth recital to the Participation Agreement, the provisions for which shall be contained in each Lease Supplement.
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Lessee Mortgage has the meaning set forth in paragraph 20(d) of the Lease.
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Lessee Mortgage means, with respect to the Facility, a mortgage made by Agent in favor of or, for the benefit of, Owner Trust in form and substance reasonably satisfactory to Administrative Agent, Owner Trust and Agent, to be entered into on the Closing Date.
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Related to Lessee Mortgage

  • Fee Mortgage Any mortgage, pledge agreement, security agreement, assignment of leases and rents, fixture filing or similar document creating or evidencing a lien on Landlord’s interest in the Leased Property or any portion thereof (or an indirect interest therein, including without limitation, a lien on direct or indirect interests in Landlord) in accordance with the provisions of Article XXXI hereof.

  • Leasehold Mortgage means a mortgage, a deed of trust, a deed to secure debt, or other security instrument by which the Leasehold is mortgaged, conveyed, assigned, or otherwise transferred to secure a debt or other obligation.

  • Mortgagee means the mortgagee, grantee or beneficiary under any Mortgage, any holder of legal title to any portion of any Mortgage Loan or, if applicable, any agent or servicer on behalf of such party.

  • Facility Mortgage As defined in Section 13.1.

  • Lessor Lien means, with respect to any person and in respect of any property (including, without limitation, the Trust Estate, the Trust Indenture Estate, the Aircraft, Airframe, Engines, Parts or Aircraft Documents) or any payments, any Lien on such property or payments which (a) arises from claims against such person (if such person is a trustee, whether in its individual capacity or in its capacity as a trustee) not related to any of the transactions contemplated by the Operative Agreements, (b) results from acts or omissions of such person (if such person is a trustee, whether in its individual capacity or in its capacity as a trustee) in violation of such person's obligations under any of the terms of the Operative Agreements, or not related to the transactions contemplated by the Operative Agreements, (c) is imposed as a result of Taxes against such person (if such person is a trustee, whether in its individual capacity or in its capacity as a trustee) or any of its Affiliates not required to be indemnified by Lessee under the Participation Agreement, or (d) claims against such person arising out of any transfer by such person of its interest in the Aircraft, the Trust Estate or the Operative Agreements, other than a Transfer permitted by the terms of the Operative Agreements or pursuant to the exercise of remedies set forth in Section 15 of the Lease.

  • Facility Mortgagee means the holder of any Facility Mortgage.

  • Lessor means a person who transfers the right to possession and use of goods under a lease. Unless the context clearly indicates otherwise, the term includes a sublessor.

  • Underlying Mortgaged Property With respect to each Co-op Loan, the underlying real property owned by the related residential cooperative housing corporation.

  • Superior Lease means the document which sets out the obligations your Landlord has made to their Superior Landlord. The promises contained in this Superior Lease will bind the Tenant if they have prior knowledge of those promises.

  • Leasehold Mortgagee means the holder of a Leasehold Mortgage.

  • Mortgagor The obligor on a Mortgage Note.

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

  • Ground Lease means a lease creating a leasehold estate in real property where the fee owner as the ground lessor conveys for a term or terms of years its entire interest in the land and buildings and other improvements, if any, comprising the premises demised under such lease to the ground lessee (who may, in certain circumstances, own the building and improvements on the land), subject to the reversionary interest of the ground lessor as fee owner. With respect to any Mortgage Loan where the Mortgage Loan is secured by a Ground Leasehold estate in whole or in part, and the related Mortgage does not also encumber the related lessor’s fee interest in such Mortgaged Property, based upon the terms of the Ground Lease and any estoppel or other agreement received from the ground lessor in favor of Mortgage Loan Seller, its successors and assigns (collectively, the “Ground Lease and Related Documents”), Mortgage Loan Seller represents and warrants that:

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

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

  • Leased Property shall have the meaning given such term in Section 2.1.

  • Aircraft Mortgage means each Aircraft and Engine mortgage and security agreement entered into by any Borrower in favor of the Agent evidencing the Liens in respect of such Aircraft Collateral that will secure the Obligations, in each case as amended, modified, restated, supplemented or replaced from time to time.

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

  • Ground Lessor means, as to any Site, the “lessor,” “sublessor,” “landlord,” “licensor,” “sublicensor” or similar Person under the related Ground Lease.

  • Lessee means a person who acquires the right to possession and use of goods under a lease. Unless the context clearly indicates otherwise, the term includes a sublessee.

  • New Lease Any lease of REO Property entered into on behalf of REMIC I, including any lease renewed or extended on behalf of REMIC I, if REMIC I has the right to renegotiate the terms of such lease.

  • Approved Lease has the meaning set forth in Section 6.11(a).

  • Superior Landlord means and includes people or persons to whom the ownership or interest in the Leasehold Property might revert in the fullness of time.

  • Second Mortgage means a mortgage from which the proceeds of a loan or other extension of credit made by a third person are secured by a mortgage on the real property for which the mortgagor has used the proceeds of the loan or other extension of credit to pay all or part of the purchase price of the property.

  • Blanket Mortgage The mortgage or mortgages encumbering a Cooperative Property.

  • Security Instrument A written instrument creating a valid first lien on a Mortgaged Property securing a Mortgage Note, which may be any applicable form of mortgage, deed of trust, deed to secure debt or security deed, including any riders or addenda thereto.