Mortgage Notes Receivable definition

Mortgage Notes Receivable any mortgage notes receivable, including interest payments thereunder, issued in favor of any Group Member or any Joint Venture in which a Group Member is a member by any Person (other than a Group Member).

Mortgage Notes Receivable a note receivable representing indebtedness owed to the Borrower or one of the Parent REIT’s Subsidiaries which is secured by a mortgage lien on real property having a value in excess of the amount of such indebtedness, provided that, any such indebtedness owed by an Unconsolidated Joint Venture shall be reduced by the portion of such indebtedness attributable to the Borrower’s or such Subsidiary’s, as applicable, Ownership Share of such Unconsolidated Joint Venture.

Mortgage Notes Receivable any mortgage notes receivable, including interest payments thereunder, issued in favor of any Group Member or any Joint Venture in which a Group Member is a member by any Person (other than a Group Member). “Multiemployer Plan”: a multiemployer plan as defined in Section 4001(a)(3) of ERISA that is subject to Title IV of ERISA and (a) to which the Borrower or any Commonly Controlled Entity has an obligation to contribute and (b) in which Hotel Employees participate by virtue of their involvement in the operations of any of the Borrowing Base Properties. “Net Operating Income”: of any Hotel Property for any period, an amount equal to (a) the aggregate Gross Income from Operations of such Hotel Property for such period, minus (b) the sum of (i) all expenses and other proper charges incurred in connection with the operation of such Hotel Property during such period (including real estate taxes, but excluding any management fees, franchise fees, debt service charges, income taxes, depreciation, amortization and other noncash expenses), (ii) the actual management fees paid under the applicable Management Agreement during such period, (iii) a franchise fee that is the greater of 3% of the aggregate Gross Income from Operations of such Hotel Property for such period or the actual franchise fees incurred during such period and (iv) a furniture, fixtures and equipment reserve of 4% of the aggregate Gross Income from Operations of such Hotel Property for such period. “New Term Loan Lender”: as defined in Section 2.23(c)(i). “Non-Consenting Lender”: as defined in Section 2.22(b). “Non-Excluded Taxes”: as defined in Section 2.18(a). “Non-Recourse Indebtedness”: any Indebtedness other than Recourse Indebtedness. “Non-Recourse Parent Guarantor”: the Borrower and any direct or indirect parent of the Borrower providing a guarantee permitted by Section 7.2(d), 7.2(g), 7.2(h) or 7.2(i). “Non-Recourse Subsidiary Borrower”: a Subsidiary of the Borrower (other than a Borrowing Base Group Member) whose principal assets are the assets securing Indebtedness incurred in accordance with Section 7.2(d), 7.2(g), 7.2(h) or 7.2(i). “Non-U.S. Lender”: as defined in Section 2.18(f). “Non-U.S. Participant”: as defined in Section 2.18(f). “Note”: as defined in Section 2.5(e).

Examples of Mortgage Notes Receivable in a sentence

• Mortgage Notes Receivable Mortgage notes receivable, substantially all of which were acquired in the Capstone merger (see Note 2), were recorded at their fair value at the date of acquisition.

• Rb Wine Associates, LLCVineyards and Wineries7621%2,1971%Total$50,88975%$151,10975% Entertainment Properties Trust Mortgage Notes Receivable (Unaudited, dollars in thousands) Summary of Mortgage Notes Receivable(1) Mortgage note receivable is impaired as of September 30, 2009.

• Each promissory note included as an Eligible Mortgage Note Receivable in calculations of the Unencumbered Asset Value satisfies all requirements contained in the definition of "Eligible Mortgage Note Receivable." As of the Agreement Date, Part II of Schedule 6.1.(g) is a true, correct and complete listing of all such Eligible Mortgage Notes Receivable.

• Rb Wine Associates, LLCVineyards and Wineries8031% 3,1131% Total$52,28575% $203,41775% Entertainment Properties Trust Mortgage Notes Receivable (Unaudited, dollars in thousands) Summary of Mortgage Notes Receivable (1) Mortgage note receivable is impaired as of December 31, 2009.

• Mortgage Notes Receivable The Company is qualified with the Federal Home Loan Mortgage Corporation (Freddie Mac) as a Freddie Mac Multifamily Program Plus® Seller/Servicer.

• In addition, Mortgage Notes Receivable reflects assets classified as held for sale after the year ended December 31, 2006 that are anticipated to be sold during the second and third quarters of 2007.

• Rb Wine Associates, LLCVineyards and Wineries5381% Total$57,94277% Entertainment Properties Trust Mortgage Notes Receivable (Unaudited, dollars in thousands) Summary of Mortgage Notes Receivable (1) Mortgage note receivable is impaired as of March 31, 2010.

More Definitions of Mortgage Notes Receivable

Mortgage Notes Receivable means advances made to franchisees of Storage USA Franchise Corp. as shown in the Financial Statements as of the last day of the Trailing Period; it being understood and agreed that, for purposes of the definition of Net Asset Value, the value of Mortgage Notes Receivable shall be equal to the book value thereof, net of reserves or write-downs in accordance with GAAP, as shown in the Financial Statements as of the last day of the Trailing Period.