Mortgage Loan Note definition

Mortgage Loan Note means the “Note” as defined in the Mortgage Loan Agreement.

Mortgage Loan Note. With respect to each Mortgage Loan, the negotiable promissory note, bond or other debt instrument made by the Mortgage Loan Obligor in favor of Borrower.

Mortgage Loan Note means the note evidencing the Obligations related to the Mortgage Loan as described in Section 3.2 of this Agreement.

Examples of Mortgage Loan Note in a sentence

• Upon the Mortgage Loan becoming a Defaulted Mortgage Loan, Note A-2 Holder hereby acknowledges the right and obligation of the Note A-1 Holder (or the Special Servicer acting on behalf of the Note A-1 Holder) to sell Note A-2 together with Note A-1 as notes evidencing one whole loan in accordance with the terms of the Lead Securitization Servicing Agreement.

• If this Mortgage Loan Note or any payment hereunder becomes due on a Saturday, Sunday or other holiday on which the Bank is authorized to close, the due date of this Mortgage Loan Note or payment shall be extended to the next succeeding business day, but any interest or fees shall be calculated based upon the actual time of payment.

• Detection on demand shall pay all expenses of Bank, including without limitation reasonable attorneys' fees, in connection with enforcement and collection of this Mortgage Loan Note.

• Detection consents to extensions, postponements, indulgences, amendments to notes and agreements, substitutions or releases of collateral, and substitutions or releases of other parties primarily or secondarily liable herefor, and agrees that none of the same shall affect Detection's obligations under this Mortgage Loan Note which shall be unconditional.

• Changes in the rate of interest applicable to the Mortgage Loan Note shall become effective automatically and without notice at the time of changes in the Base Rate.

More Definitions of Mortgage Loan Note

Mortgage Loan Note. The “Note” under and as defined in the Mortgage Loan Agreement.

Mortgage Loan Note means with respect to each Mortgage Loan, the original negotiable promissory note, bond or other debt instrument made by the Mortgage Loan Obligor in favor of Borrower.

Mortgage Loan Note is defined in Section 0 hereof.

Mortgage Loan Note has the meaning given in Section 2.2.1.

Mortgage Loan Note the Mortgage Loan Note from the Borrower, as the maker thereof, payable to the order of the Lender, evidencing the Mortgage Loan, as the same may be amended, extended, renewed or otherwise modified or replaced from time to time.

Mortgage Loan Note means the amended and restated promissory note of the Borrower in the form of Exhibit B hereto evidencing the Mortgage Loan.

Mortgage Loan Note has the meaning set forth in the Recitals hereto. “Mortgage Loan Outstanding Principal Balance” means, as of any date, the outstanding principal balance of the Mortgage Loan. “Mortgage Loan Reserve Funds” means the “Reserve Funds” under and as defined in the Mortgage Loan Agreement. “Mortgage Loan Shortfall Account” means the “Shortfall Account” under and as defined in the Mortgage Loan Agreement. “Mortgage Shortfall Provisions” has the meaning set forth in Section 2.1.9(e). “Net Liquidation Proceeds” shall mean, with respect to any Liquidation Event, all amounts paid to or received by or on behalf of Mortgage Borrower in connection with such Liquidation Event, including, without limitation, proceeds of any sale, refinancing or other disposition or liquidation, less (i) Lender’s and/or Mortgage Lender’s reasonable costs incurred in connection with the recovery thereof, (ii) the costs incurred by Mortgage Borrower in connection with a restoration of the Property made in accordance with the Mortgage Loan Documents, (iii) amounts required or permitted to be deducted therefrom and amounts paid pursuant to the Mortgage Loan Documents to Mortgage Lender, (iv) in the case of a foreclosure sale, disposition or Transfer of the Property in connection with realization thereon following an Event of Default under the Mortgage Loan, such reasonable and customary costs and expenses of sale or other disposition (including attorneys’ fees and brokerage commissions), (v) in the case of a foreclosure sale, such costs and expenses incurred by Mortgage Lender under the Mortgage Loan Documents as Mortgage Lender shall be entitled to receive reimbursement for under the terms of the Mortgage Loan Documents, (vi) in the case of a refinancing of the Mortgage Loan, such costs and expenses (including attorneys’ fees) of such refinancing as shall be reasonably approved by Lender and (vii) the amount of any prepayments, yield maintenance charges and/or prepayment premiums required pursuant to the Mortgage Loan Documents and/or the Loan Documents in connection with any such Liquidation Event. “Net Operating Income” has the meaning set forth in the Mortgage Loan Agreement. “Net Proceeds” has the meaning set forth in the Mortgage Loan Agreement.