Local Mortgage definition

Local Mortgage that certain Pledge Agreement, dated on or prior to the Advance Date, between the Borrower, as pledgor, the Lenders and the Senior Lenders, as pledgees, the Lessee and the Sublessee, as third-party holder, together with an acknowledgement declaration of the Lessee in relation to the Aircraft.
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Local Mortgage means (i) the Chilean law aircraft mortgage dated on or about the date of the Delivery granted by the Lessor in favor of the Loan Trustee, substantially in the form of Exhibit D to the Note Purchase Agreement or (ii) if the Aircraft is subleased to, or operated by, a Permitted Sublessee and is registered in accordance with Section 7(b) of the Lease, an aircraft mortgage governed by the laws of the applicable Permitted Jurisdiction granted by the Lessor in favor of the Loan Trustee dated on or about the date of such sublease, in each case as the same may be amended, supplemented or otherwise modified from time to time in accordance with its terms.
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Local Mortgage means, with respect to an Aircraft, (i) any aircraft mortgage, security agreement or similar document for such Aircraft (other than the Aircraft Mortgage for such Aircraft) required by the Applicable Law of the State of Registration for such Aircraft in order to properly record or perfect the Security Trustee's Lien on the Mortgaged Property in such State of Registration, and (ii) the form of the Aircraft Mortgage (if not the same in all material respects as the Aircraft Mortgage) for such Aircraft, if any, recorded with the Civil Aviation Authority or any other Government Body under the Applicable Laws of the State of Registration for such Aircraft as contemplated in Section 6 of such Aircraft Mortgage.
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Examples of Local Mortgage in a sentence

  • On the Advance Date, the Borrower represents and warrants that Borrower has such title to the Aircraft as was conveyed to it by Prior Owner, free and clear of all Lessor Liens attributable to the Borrower (other than (i) the Security Interest granted by the Borrower in favor of the Security Trustee pursuant to the Security Agreement and the Local Mortgage, and (ii) the rights of the Lessee under the Lease).

  • Title to all Parts incorporated or installed in or attached or added to the Aircraft as the result of such alteration, modification or addition, shall immediately vest in the Lessor free and clear of all Liens (except Permitted Liens) and become subject to this Lease and the Local Mortgage, without the necessity for any further act of transfer, document or notice.

  • Racal responded to this inquiry with its own letter of January 23, 1992, in which, among other things, it agreed to discontinue its listing of rates under the Local Mortgage Rates column.

  • Refer to the following Articles for the Local Mortgage Law: “Local Mortgage Law” Art.

  • The interests of the Company (as owner) and the Security Trustee (as mortgagee) in relation to each Aircraft pursuant to the Security Agreement, duly recorded on the Nationality Aircraft Register of the State of Registration pursuant to a Local Mortgage Filing.

  • He also commented that the Local Mortgage Rescue Scheme was a preventative measure adopted by the Council that had provided the inspiration for the Government to launch a national scheme.

  • Except as expressly permitted by this Lease, the Lessee shall not, during the Term, take any action which may cause deregistration of the Aircraft with the Aviation Authority, or the Local Mortgage registered with the Aviation Authority.

  • Notwithstanding the foregoing, any Part not removed by the Lessee (or any Permitted Sublessee) as above provided prior to the return of the Airframe or any Engine to the Lessor hereunder shall become the property of the Lessor at the time of such return and become subject to the Local Mortgage.

  • Except as expressly permitted by the Financing Agreements, the Lessee shall not, during the Term, take any action which may cause deregistration of the Aircraft, or the Local Mortgage registered with the Aviation Authority.

  • The households must be able to secure a mortgage and/or have sufficient lump sum to purchase between 25% and 75% share.Total budget for DIYSO – £600,000 (excludes private finance) estimated to provide 10 propertiesProgress to date – 8• Local Mortgage Rescue Scheme – Assists families experiencing financial difficulties to remain in their own home/support networks.


More Definitions of Local Mortgage

Local Mortgage means (i) the Chilean law aircraft mortgage dated on or about the date of the Delivery granted by the Lessor in favor of the Loan Trustee, substantially in the form of Exhibit D to the Note Purchase Agreement[, (ii) if the Aircraft is subject to the Initial Sublease, the Brazilian law aircraft mortgage dated on or about the date of the Delivery granted by the Lessor in favor of the Loan Trustee, substantially in the form of Exhibit E to the Note Purchase Agreement] or [(ii)][(iii)] if the Aircraft is subleased to, or operated by, a Permitted Sublessee and is registered in accordance with Section 7(b) of the Lease, an aircraft mortgage governed by the laws of the applicable Permitted Jurisdiction granted by the Lessor in favor of the Loan Trustee dated on or about the date of such sublease, in each case as the same may be amended, supplemented or otherwise modified from time to time in accordance with its terms.
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Local Mortgage means (i) the Chilean law or Brazilian law, as applicable, aircraft mortgage dated on or about the date of the Delivery granted by the Lessor in favor of the Loan Trustee or (ii) if the Aircraft is subleased to, or operated by, a Permitted Sublessee and is registered in accordance with Section 7(b) of the Lease, an aircraft mortgage governed by the laws of the applicable jurisdiction granted by the Lessor in favor of the Loan Trustee dated on or about the date of such sublease, in each case as the same may be amended, supplemented or otherwise modified from time to time in accordance with its terms.
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Local Mortgage means, with respect to each Aircraft, the Brazilian Mortgage or the Chilean Mortgage, as applicable.
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Local Mortgage means the [supplement to the Aircraft Mortgage dated as of the Borrowing Date between the Lessor, Lessee and the Security Trustee](11),.
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Related to Local Mortgage

  • Initial Mortgage Loan A Mortgage Loan conveyed to the Trust Fund on the Closing Date pursuant to this Agreement as identified on the Mortgage Loan Schedule delivered to the Trustee on the Closing Date.

  • Initial Mortgage Loans The Mortgage Loans included in the Trust as of the Closing Date.

  • Commercial Mortgage Loan means a Loan secured by a Mortgage on real property used for commercial purposes, including five- or greater unit residential real property.

  • Original Mortgage Loan The mortgage loan refinanced in connection with the origination of a Refinancing Mortgage Loan.

  • Residential mortgage loan means any loan primarily for

  • Additional Mortgage shall have the meaning assigned to such term in Section 5.10(c).

  • Pledged Asset Mortgage Servicing Agreement The Pledged Asset Mortgage Servicing Agreement, dated as of February 28, 1996 between MLCC and the Master Servicer. Pooling and Servicing Agreement or Agreement: With respect to any Series, this Standard Terms together with the related Series Supplement.

  • Conventional Mortgage Loan Any Mortgage Loan that is not an FHA Loan.

  • Additional Collateral Mortgage Loan Each Mortgage Loan identified as such in the Mortgage Loan Schedule.

  • Mortgage Assignment means an assignment of the Mortgage in recordable form, sufficient under the laws of the jurisdiction wherein the related Mortgaged Property is located to reflect the sale of the Mortgage.

  • Ship Mortgage means a Ship Mortgage or Additional Ship Mortgage substantially in the form of Exhibit E-2 to the 2008 Credit Agreement (with such changes as are reasonably consented to by the Collateral Agent to account for local law matters) made by the applicable Loan Party in favor of Collateral Agent for the benefit of the Secured Parties, as the same may be amended, supplemented or otherwise modified from time to time, together with an Earnings Assignment and an Insurance Assignment made by the applicable Loan Party for each Mortgaged Vessel, and such other agreements reasonably acceptable to Collateral Agent as shall be necessary to comply with applicable requirements of law and effective to grant in favor of Collateral Agent for the benefit of the Secured Parties a first preferred mortgage within the meaning of the Ship Mortgage Act on the Mortgaged Vessel covered thereby, subject only to Permitted Liens.

  • Initial Mortgage Rate As to each Mortgage Loan, the Mortgage Rate in effect prior to the Initial Adjustment Date.

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

  • Aircraft Mortgage means that “Aircraft Mortgage” as defined in Section 4.01(e), as the same may be amended, restated, modified, supplemented, extended or amended and restated from time to time.

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

  • Mortgage Servicing Rights The rights and responsibilities of Seller with respect to servicing the Mortgage Loans under the Servicing Agreements, including any and all of the following if and to the extent provided therein: (a) all rights to service a Mortgage Loan; (b) all rights to receive servicing fees, Ancillary Income, reimbursements or indemnification for servicing the Mortgage Loan, and any payments received in respect of the foregoing and proceeds thereof; (c) the right to collect, hold and disburse escrow payments or other payments with respect to the Mortgage Loan and any amounts actually collected with respect thereto and to receive interest income on such amounts to the extent permitted by Applicable Law; (d) all accounts and other rights to payment related to any of the property described in this paragraph; (e) possession and use of any and all Credit Files pertaining to the Mortgage Loan or pertaining to the past, present or prospective servicing of the Mortgage Loan; (f) to the extent applicable, all rights and benefits relating to the direct solicitation of the related Mortgagors for refinance or modification of the Mortgage Loans and attendant right, title and interest in and to the list of such Mortgagors and data relating to their respective Mortgage Loans; and (g) all rights, powers and privileges incident to any of the foregoing.

  • Additional Mortgaged Property shall have the meaning provided in Section 8.11(a).

  • GreenPoint Mortgage Loans The Mortgage Loans for which GreenPoint is listed as "Servicer" on the Mortgage Loan Schedule.

  • Mortgage servicer means the mortgagee or a person other than the mortgagee to whom a mortgagor or the mortgagor’s successor in interest is instructed by the mortgagee to send payments on a loan secured by the mortgage. A person transmitting a payoff statement for a mortgage is the mortgage servicer for purposes of such mortgage.

  • FHA Mortgage Insurance means, mortgage insurance authorized under the National Housing Act, as amended from time to time, and provided by the FHA.

  • 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.

  • Group 4 Mortgage Loan Each Mortgage Loan listed on Exhibit D-4 hereto.

  • PMI Mortgage Loans The list of Mortgage Loans insured by the PMI Insurer attached hereto as Schedule II.

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

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

  • FHA Mortgage Insurance Contract means the contractual obligation of the FHA respecting the insurance of a Mortgage Loan.