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.

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.

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”).

Examples of Mortgage Facility in a sentence

• Interest shall neither accrue nor be payable from and after the Commencement Date with respect to the Allowed Mortgage Facility Claim.

• The Investor Certificates 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 cancel the Investor Certificates in accordance with the provisions of the Trust and Servicing Agreement without any Distribution to be made on account of such Investor Certificates.

• 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.

• As of the Effective Date, all notes and any obligations of the Debtors under the Mortgage Facility or the Mezzanine Facilities shall be discharged and be of no further force or effect against the Debtors or the Mortgage Properties, and the holders thereof shall have no rights against the Debtors or the Mortgage Properties, except the right to receive the Distributions provided herein.

• To the extent that any funds remain in the Administrative/Priority Claims Reserve after the final resolution of all Administrative Expense Claims or Priority Claims that are Disputed Claims (and all such Disputed Claims that are subsequently Allowed are fully satisfied in accordance with the terms of the Plan), such funds shall be paid to the holder of the Mortgage Facility Claim, for distribution to holders of Mortgage Certificates in accordance with Section 6.3 of the Plan.

• Nothing contained in this Plan shall be deemed to be an amendment, modification or waiver of any term or provision of the Trust and Servicing Agreement, the Mortgage Facility, or the Cash Collateral Order.

• It is understood, however, that (i) this Section 6.5 shall not affect any Guaranty Claims, other than a Guaranty Claim against a Debtor, or the pursuit of Litigation Trust Assets, and (ii) notwithstanding Section 6.11 hereof, the notes or certificates in respect of the Mortgage Facility and the Mezzanine Facilities shall not be surrendered and cancelled so as not to impair the pursuit of Litigation Trust Assets or any Guaranty Claims other than a Guaranty Claim against a Debtor.

• CHIQUIER, L., 1998, “Secondary Mortgage Facility Case Study of Cagamas Berhad in Malaysia”, Study for the World Bank (Capital Market Development Department), unpublished.

• The Mortgage Facility is secured by mortgages on essentially all of our owned real property located in Elgin, Illinois, Gustine, California and Garysburg, North Carolina (the “Encumbered Properties”).

• For purposes of calculating Pro Rata Share hereunder, the Allowed Claims of the holders of the Mortgage Facility Deficiency Claim and the General Unsecured Claims shall be aggregated.

More Definitions of Mortgage Facility

Mortgage Facility any facility entered into by the Borrower or any Subsidiary the proceeds of which are secured by the Mortgage Facility Properties.

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.

Mortgage Facility means each mortgage loan the Bank makes available under these terms as stated in the Facility Letter.

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.

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.

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.