Loan Title Policy definition

Loan Title Policy means the title insurance policy (i) naming Lender as the insured, (ii) in the amount of the Loan, (iii) in form (including endorsements), date and substance, and written by a title insurance underwriter, satisfactory to Lender, (iv) insuring a valid first lien upon the Property by virtue of the Security Instrument, and (v) containing no exceptions other than the Permitted Encumbrances and those otherwise acceptable to Lender.
Sample 1Sample 2
Loan Title Policy. The ALTA Extended Coverage Loan Policy of Title Insurance (2006 Form) issued by the Title Company with a liability limit equal to the Loan Amount, together with such endorsements and policies of coinsurance and reinsurance as may be required by Lender,
Sample 1

Examples of Loan Title Policy in a sentence

  • As of the date hereof, except as set forth on Schedule 3.3.18 attached hereto, there are no mechanics’ or other similar liens or claims that have been filed for work, labor or materials affecting the related Mortgaged Property that are or may be prior or equal in priority to the Lien of the Pledged Mortgage, except those that are insured against pursuant to the applicable Mortgage Loan Title Policy.

  • No holder of the related Pledged Mortgage has done, by act or omission, anything that would, and no Borrower Entity has any actual knowledge of any other circumstance that would, impair the coverage under such Mortgage Loan Title Policy.

  • Borrower shall furnish to Administrative Agent, at Borrower’s expense, the Loan Title Policy showing Administrative Agent as the insured thereunder, in the aggregate amount of the Loans and in form, date and substance satisfactory to Administrative Agent insuring a valid first lien upon the Property by virtue of the Security Instrument and containing no exceptions other than the Permitted Encumbrances and as otherwise specifically approved in writing by Administrative Agent.

  • If the underwriter issuing the Loan Title Policy becomes insolvent or is placed in receivership or for any other reason the Loan Title Policy becomes unenforceable, Borrower shall furnish to Administrative Agent, at Borrower’s expense, another mortgagee title insurance policy or policies in the same amount and otherwise in substantially the same form as the original Loan Title Policy.

  • Contemporaneously herewith, Administrative Agent will deliver this Agreement for recording in the appropriate records of the county where the Property is located at Borrower’s expense, and Borrower shall, at its sole cost and expense, obtain and deliver to Administrative Agent an endorsement to the Loan Title Policy in form and substance reasonably acceptable to Administrative Agent.

  • If the Loan Title Policy becomes invalid, or the insurer becomes insolvent or is placed in receivership, then Borrower shall, within 30 days after Lender’s demand, furnish to Lender, at Borrower’s expense, a substitute Loan Title Policy.

  • Except as identified on Schedule 3.3.18 attached hereto, as of the origination date of the Mortgage Loan, there are no mechanics’ or other similar liens or claims that have been filed for work, labor or materials affecting the related Mortgaged Property that are or may be prior or equal to the Lien of the Pledged Mortgage, except those that are insured against pursuant to the applicable Mortgage Loan Title Policy.

  • Contemporaneously with the execution and delivery of this Agreement, Borrower shall pay, or cause to be paid, all costs and expenses incident to the preparation hereof and the consummation of the transactions specified herein, including, without limitation, Loan Title Policy endorsement charges, recording fees and fees and expenses of legal counsel to Administrative Agent and/or the Lenders.

  • On or before the Effective Date, Borrower shall furnish to Lender, at Borrower’s expense, the Loan Title Policy.

  • Such Mortgage Loan Title Policy is in full force and effect and all premiums thereon have been paid and will provide that the insured includes the owner of the Mortgage Loan and its successors and/or assigns.


More Definitions of Loan Title Policy

Loan Title Policy has the meaning set forth in Section 2.6(b).
Sample 1

Related to Loan Title Policy

  • Title Policy shall have the meaning set forth in Section 4.2.

  • Existing Title Policy means, the existing title insurance policy for the Property.

  • Owner’s Title Policy means those certain ALTA extended coverage owner’s policies of title insurance issued in connection with the closing of the Mortgage Loan insuring the Mortgage Borrower as the owner of the Property.

  • Title Policies has the meaning set forth in Section 6.17.

  • Title Insurance Policy A title insurance policy maintained with respect to a Mortgage Loan.

  • Title Insurance An American Land Title Association (ALTA) mortgage loan title policy form 1970, or other form of Title Insurance Policy acceptable to FNMA or FHLMC, including all riders and endorsements thereto, insuring that the Security Instrument constitutes a valid first lien on the related Mortgaged Property subject only to permitted encumbrances.

  • Title Insurance Policies means, with respect to each Individual Property, an ALTA mortgagee title insurance policy in a form acceptable to Lender (or, if an Individual Property is in a State which does not permit the issuance of such ALTA policy, such form as shall be permitted in such State and acceptable to Lender) issued with respect to such Individual Property and insuring the lien of the Mortgage encumbering such Individual Property.

  • CLTA The California Land Title Association.

  • Title Insurer means First American Title Insurance Company.

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

  • Mortgage Policy has the meaning specified in Section 4.01(a)(iv)(B).

  • ALTA means American Land Title Association, or any successor thereto.

  • Title Commitment shall have the meaning set forth in Section 4.2.

  • Mortgage Policies has the meaning specified in Section 6.13(b)(ii).

  • Title insurance agent means an agent licensed in the Commonwealth to sell, solicit, or negotiate

  • Closing Date Mortgaged Property as defined in Section 3.1(h).

  • Title Commitments has the meaning set forth in Section 5.9.

  • Conforming Mortgage Loan means a first lien Mortgage Loan originated in accordance with the criteria of an Agency for purchase of Mortgage Loans, including, without limitation, conventional Mortgage Loans, as determined by Buyer in its sole discretion.

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

  • Applicable Policy means any rules, policies, directives, standards of practice or Program Parameters issued or adopted by the Funder, the Ministry or other ministries or agencies of the province of Ontario that are applicable to the HSP, the Services, this Agreement and the parties’ obligations under this Agreement during the term of this Agreement. Without limiting the generality of the foregoing, Applicable Policy includes the other documents identified in Schedule C;

  • Lender PMI Mortgage Loan Certain Mortgage Loans as to which the lender (rather than the borrower) acquires the Primary Insurance Policy and charges the related borrower an interest premium.

  • Insurance Policy With respect to any Mortgage Loan included in the Trust Fund, any insurance policy, including all riders and endorsements thereto in effect, including any replacement policy or policies for any Insurance Policies.

  • Existing Mortgages means any mortgage, deed of trust or deed delivered pursuant to the Existing Credit Agreement including any amendments, modifications, restatements or assignments thereof.

  • Premium Mortgage Loan Any Group 1 Premium Mortgage Loan or Group 2 Premium Mortgage Loan.

  • Lender-Paid Mortgage Insurance Loan Each of the Mortgage Loans identified on the Mortgage Loan Schedule as having a Lender-Paid Mortgage Insurance Rate.

  • Preliminary Title Report A report issued by a title insurance company in anticipation of issuing a Title Insurance policy which evidences existing liens and gives a preliminary opinion as to the absence of any encumbrance on title to a Mortgaged Property, except liens to be removed on or before purchase or refinance, as the case may be, by the Borrower and Permitted Encumbrances.