MORTGAGE COVENANTS definition

MORTGAGE COVENANTS. STATUTORY CONDITION" and "STATUTORY POWER OF SALE", in each case, are defined in Massachusetts General Law, c. 183, sections 19, 20, and 21, respectively, which definitions are incorporated herein and by reference.
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MORTGAGE COVENANTS has the meaning set forth in General Statutes of Connecticut, Section 47-36i.
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MORTGAGE COVENANTS as employed in this document, is defined in Ohio Revised Code S5302.13 and has the meaning and effect set forth there.
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Examples of MORTGAGE COVENANTS in a sentence

  • The Grantor hereby confirms the grant to the Grantee of the Existing Mortgage with MORTGAGE COVENANTS and upon the STATUTORY CONDITION and with the STATUTORY POWER OF SALE.

  • Section 17.2. This Mortgage is granted with MORTGAGE COVENANTS and is also upon the STATUTORY CONDITION, for any breach of which, or for any breach of any other of the covenants, conditions, agreements and obligations of the Mortgagor herein contained, or upon the occurrence of any of the events specified as an Event of Default in this Mortgage or if the whole of the principal sum of and the interest on any of the Note shall become due, the Mortgagee shall have the STATUTORY POWER OF SALE.

  • This Mortgage is made UPON THE STATUTORY CONDITION, WITH MORTGAGE COVENANTS, as such terms are defined in C.G.S.A. Sections 47-36j and 47-36i, respectively.

  • For valuable consideration paid, the receipt and sufficiency of which is hereby acknowledged, the Borrower hereby grants to the Lender, with MORTGAGE COVENANTS, the “Property” described below, to secure the prompt payment and performance of the Obligations.

  • Administrative Agent (hereinafter, the “Agent”), with MORTGAGE COVENANTS, the Mortgaged Property (as defined below) to secure the Obligations (as defined below).

  • Said STATUTORY CONDITION and STATUTORY POWER OF SALE, as well as the MORTGAGE COVENANTS contained in the granting clause of this Mortgage, are those contained in the General Laws of the State of Rhode Island.

  • As security for the Secured Obligations, Mortgagor hereby grants, bargains, sells, conveys, mortgages, and warrants with MORTGAGE COVENANTS unto Mortgagee the entire right, title, interest, and estate of Mortgagor in and to the Property, whether now owned or hereafter acquired; TO HAVE AND TO HOLD the same, together with all and singular the rights, hereditaments, and appurtenances in anywise appertaining or belonging thereto, unto Mortgagee and Mortgagee's successors, substitutes and assigns forever.

  • The Mortgage is granted with MORTGAGE COVENANTS, ------------------ and is upon the STATUTORY CONDITION.

  • For this purpose Mortgagor(s) does/do hereby MORTGAGE, DEED, GRANT, and CONVEY to the Lender WITH MORTGAGE COVENANTS AND WITH THE STATUTORY POWER OF SALE the Property.

  • The STATUTORY CONDITION and the STATUTORY POWER OF SALE referred to in the preceding paragraph, as well as the MORTGAGE COVENANTS in the granting clause of this Instrument, are those contained in the General Laws of the State of Rhode Island.

Related to MORTGAGE COVENANTS

  • Affirmative Covenants The following affirmative covenants, among others, if any, to be negotiated in the Senior Facilities Documentation, will apply (to be applicable to the Borrower and its restricted subsidiaries), subject to customary (consistent with the Documentation Precedent) and other baskets, exceptions and qualifications to be agreed upon: maintenance of corporate existence and rights; performance and payment of obligations; delivery of annual and quarterly consolidated financial statements (accompanied by customary management discussion and analysis and (annually) by an audit opinion from nationally recognized auditors that is not subject to any qualification as to scope of such audit or going concern) (other than solely with respect to, or resulting solely from an upcoming maturity date under any series of indebtedness occurring within one year from the time such opinion is delivered) (with extended time periods to be agreed for delivery of the first annual and certain quarterly financial statements to be delivered after the Closing Date) and an annual budget (it being understood that the public REIT reporting that includes the Borrower shall satisfy the Borrower’s reporting obligations so long as it includes a consolidating income statement and balance sheet for the Borrower); delivery of notices of default and material adverse litigation, ERISA events and material adverse change; maintenance of properties in good working order; maintenance of books and records; maintenance of customary insurance; commercially reasonable efforts to maintain ratings (but not a specific rating); compliance with laws; inspection of books and properties; environmental; additional guarantors and additional collateral (subject to limitations set forth under the captions “Guarantees” and “Security”); further assurances in respect of collateral matters; use of proceeds; and payment of taxes.

  • Negative Covenants means any negative or similar restrictive covenant (including, without limitation, under Article 7) made by the Borrowers in this Agreement or in any other Loan Document.

  • Maintenance Covenant A covenant by any borrower to comply with one or more financial covenants (including without limitation any covenant relating to a borrowing base, asset valuation or similar asset-based requirement) during each reporting period, that exists regardless of whether or not such borrower has taken any specified action and includes a covenant that applies only when the related loan is funded.

  • Mortgage Conditions means, in relation to a Mortgage Loan, the terms and conditions applicable to that Mortgage Loan and its Related Security as set out in the relevant Seller's "Mortgage Conditions" booklet and the Seller's relevant general conditions from time to time as varied by the relevant Mortgage Loan Agreement and the relevant Mortgage Deed, and any variation or supplement thereto;

  • Transfer fee covenant means a declaration or covenant purporting to affect real property which requires or purports to require the payment of a transfer fee to the declarant or other person specified in the covenant or declaration, or to their successors or assigns, upon a subsequent transfer of an interest in the real property.