Mortgage Facility definition

Mortgage Facility means means Indebtedness secured solely by Liens consisting of mortgages, deeds of trust, or other deeds on real property owned or leased by the Company or any of its Subsidiaries where the principal amount of such Indebtedness does not exceed the fair market value of such real property at the time such Mortgage Facility is entered into and such Indebtedness is either (x) non-recourse to the Company or any Guarantor or (y) is not a “security” within the meaning of Section 2(a)(1) of the Securities Act.
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Mortgage Facility means Indebtedness secured solely by Liens consisting of mortgages, deeds of trust, or other deeds on real property owned or leased by the Company or any of its Subsidiaries where the principal amount of such Indebtedness does not exceed the Fair Market Value of such real property at the time such Mortgage Facility is entered into and such Indebtedness is non-recourse to the Company or any Guarantor.
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Mortgage Facility means each mortgage loan the Bank makes available under these terms as stated in the Facility Letter.
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Examples of Mortgage Facility in a sentence

  • Revolving Credit Mortgage Facility In September 2004, we obtained a Revolving Credit Mortgage Facility for borrowings of up to $85.0 million.

  • The Revolving Credit Mortgage Facility bears interest at the one month LIBOR plus 2.95% (5.35% at December 31, 2004) and has a term of one year.

  • The full proceeds the Term Loan shall be used to refinance the obligations owing under the Capital One Mortgage Facility on the Closing Date.

  • Notwithstanding anything to the contrary contained in this Agreement or the Promissory Notes, the security interest granted to the Secured Parties in the Collateral shall remain secondary in all respects, regardless of the date of perfection, to any security interest granted to Mortgagee under the Mortgage Facility.

  • Except for any liens arising under that certain (i) North Carolina Deed of Trust, dated July 3, 2002 (the "Mortgage Facility"), between Kelly Color Laboratories, Inc.

  • Debtor shall retain possession of its Collateral and shall not sell, exchange, assign, loan, deliver, lease, mortgage or otherwise dispose of same without the prior written consent of the Secured Party, except as otherwise required under the terms of the Mortgage Facility or in the ordinary course of business consistent with the past practice of Debtor.

  • Notwithstanding anything to the contrary contained in this Agreement, the Note and the Loan Agreement, the security interest granted to the Secured Party in the Collateral shall remain secondary in all respects, regardless of the date of perfection, to any security interest (a) granted to Mortgagee under the Mortgage Facility and (b) to be granted to the holders of Senior Indebtedness (as such term is defined in the Note).

  • The Cash Distribution shall be distributed by the Plan Administrator to the holder of the Allowed Mortgage Facility Claim on the Effective Date in accordance with Section 8.2 which shall then distribute the Cash Distribution to the holders of Mortgage Certificates in accordance with the priority set forth in the Trust and Servicing Agreement.

  • The proceeds of the Loans under the Mortgage Facility and the Term Loan Facility shall be used to finance working capital, finance capital expenditures, finance the Specified Original Closing Distribution, refinance the Existing Credit Facilities, pay closing costs and fees and for general corporate purposes, including, without limitation, Permitted Acquisitions and other Investments and any other transaction not prohibited by this Agreement.

  • Debtor shall retain possession of the Collateral and shall not sell, exchange, assign, loan, deliver, lease, mortgage or otherwise dispose of same without the prior written consent of the Agent, except as otherwise required under the terms of the Mortgage Facility or in the ordinary course of business consistent with the past practice of Debtor.


More Definitions of Mortgage Facility

Mortgage Facility any facility entered into by the Borrower or any Subsidiary the proceeds of which are secured by real properties described in such Facility (such real properties, the “Mortgage Facility Properties”).
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Mortgage Facility any facility entered into by the Borrower or any Subsidiary the proceeds of which are secured by the Mortgage Facility Properties.
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Mortgage Facility means any credit facilities secured by real property of the Issuer or its Restricted Subsidiaries, including any guarantees, collateral documents, instruments and agreements executed in connection therewith, and any amendments, supplements, modifications, extensions, renewals, restatements, refundings or refinancings thereof.
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Mortgage Facility means the senior secured mortgage term loan facility described in Section 2.03.1(a) providing for Original Mortgage Loans to the applicable Mortgage Loan Borrowers by the Mortgage Loan Lenders, as such facility may be increased or decreased pursuant to the terms hereof.
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Mortgage Facility the Term Loan Agreement, dated as of May 20, 2005, by and among the Borrower, National MENTOR Inc., certain Subsidiaries party thereto as borrowers and Bank of America, N.A.
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Mortgage Facility means the Master Loan Agreement between Toyota Motor Credit Corporation and Sonic Automotive, Inc., dated December 31, 2002, and as such agreement, in whole or in part, may have been or may be further amended, renewed, extended, substituted, refinanced, restructured, replaced, supplemented or otherwise modified from time to time, including, without limitation, any successive renewals, extensions, substitutions, refinancings, restructurings, replacements, supplementations or other modifications of the foregoing.
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Related to Mortgage Facility

  • Triage facility means a short-term facility or a portion

  • Mortgage Collateral the “Collateral” as defined in the Mortgage Loan Agreement.

  • 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.

  • Securitization Facility means any of one or more receivables or securitization financing facilities as amended, supplemented, modified, extended, renewed, restated or refunded from time to time, the Obligations of which are non-recourse (except for customary representations, warranties, covenants and indemnities made in connection with such facilities) to the Issuer or any of its Restricted Subsidiaries (other than a Securitization Subsidiary) pursuant to which the Issuer or any of its Restricted Subsidiaries sells or grants a security interest in its accounts receivable or Securitization Assets or assets related thereto to either (a) a Person that is not a Restricted Subsidiary or (b) a Securitization Subsidiary that in turn sells its accounts receivable to a Person that is not a Restricted Subsidiary.

  • Secure facility or "detention home" means a local, regional or state public or private locked

  • Mortgage Documents With respect to each Mortgage Loan, the mortgage documents required to be delivered to the Custodian pursuant to each Custodial Agreement.

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

  • Replacement Mortgage Loan A Mortgage Loan or Mortgage Loans in the aggregate substituted by the Seller for a Deleted Mortgage Loan, which must, on the date of such substitution, as confirmed in a Request for Release, (i) have a Stated Principal Balance, after deduction of the principal portion of the Scheduled Payment due in the month of substitution, not in excess of, and not less than 90% of, the Stated Principal Balance of the Deleted Mortgage Loan; (ii) if the Replacement Mortgage Loan is a fixed rate Mortgage Loan, have a fixed Mortgage Rate not less than or more than 1% per annum higher than the Mortgage Rate of the Deleted Mortgage Loan; (iii) have the same or higher credit quality characteristics than that of the Deleted Mortgage Loan; (iv) have a Loan-to-Value Ratio no higher than that of the Deleted Mortgage Loan; (v) have a remaining term to maturity no greater than (and not more than one year less than) that of the Deleted Mortgage Loan; (vi) not permit conversion of the Mortgage Rate from a fixed rate to a variable rate; (vii) have the same lien priority as the Deleted Mortgage Loan; (viii) constitute the same occupancy type as the Deleted Mortgage Loan or be owner occupied; (ix) if the Replacement Mortgage Loan is an Adjustable Rate Mortgage Loan, have a Maximum Mortgage Rate not less than the Maximum Mortgage Rate on the Deleted Mortgage Loan, (x) if the Replacement Mortgage Loan is an Adjustable Rate Mortgage Loan, have a Minimum Mortgage Rate not less than the Minimum Mortgage Rate of the Deleted Mortgage Loan, (xi) if the Replacement Mortgage Loan is an Adjustable Rate Mortgage Loan, have a Gross Margin equal to or greater than the Gross Margin of the Deleted Mortgage Loan, (xii) if the Replacement Mortgage Loan is an Adjustable Rate Mortgage Loan, have a next Adjustment Date not more than two months later than the next Adjustment Date on the Deleted Mortgage Loan, (xiii) comply with each representation and warranty set forth in Section 7 of the Mortgage Loan Purchase Agreement and (xiv) the Custodian has delivered a Final Certification noting no defects or exceptions.

  • EMC Mortgage Loans Those Mortgage Loans serviced by the Company pursuant to the terms of this Agreement.

  • Wet-Ink Mortgage Loan means a Mortgage Loan which any Seller is selling to Buyer simultaneously with the origination thereof and for which the Mortgage Loan Documents have not been delivered to the Custodian.

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

  • Refinanced Mortgage Loan A Mortgage Loan the proceeds of which were not used to purchase the related Mortgaged Property.

  • Mortgage Assets The Mortgage Loans to be included in the Trust Fund are as described in Annex A hereto.

  • Refinancing Mortgage Loan Any Mortgage Loan originated in connection with the refinancing of an existing mortgage loan.

  • Collateral Pool means all of the Collateral.

  • 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.

  • Mortgage Loan Documents means, with respect to the Mortgage Loan, the Mortgage Loan Agreement, the Mortgage, the Notes and all other documents now or hereafter evidencing and securing the Mortgage Loan.

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

  • Custodial property means an interest in property transferred to a custodian under this act and the income from, and proceeds of, that interest in property.

  • Equipment Loan means middle market equipment loans that consist of loans made to obligors in the United States of America primarily secured by new or used transportation equipment and managed by the Equipment Finance reporting category of the Commercial Lending and Leasing division of GE Capital.

  • Countrywide Mortgage Loans The Mortgage Loans identified as such on the Mortgage Loan Schedule for which Countrywide is the applicable Seller.

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

  • Off-site facility means a structural BMP located outside the subject property boundary described in the permit application for land development activity.