Mortgage Principal definition
Examples of Mortgage Principal in a sentence
The Agency hereby grants to the Company exemption from mortgage recording taxes for one or more mortgages (collectively, the "Mortgage") securing an aggregate principal amount not to exceed Maximum Mortgage Principal Amount, or such greater amount as approved by the Agency in its sole and absolute discretion, in connection with the financing of the Project and any future financing, refinancing or permanent financing of the costs of the Project (the "Mortgage Recording Tax Exemption").
The Agency hereby grants to the Company exemption from mortgage recording taxes for one or more Mortgages securing an aggregate principal amount not to exceed the Maximum Mortgage Principal Amount, or such greater amount as approved by the Agency in its sole and absolute discretion, in connection with the financing of the Project and any future financing, refinancing or permanent financing of the costs of the Project (the “Mortgage Recording Tax Exemption”).
Notwithstanding the foregoing, no Prepayment Consideration will be due as to a prepayment of the Loan in connection with (i) application of insurance or condemnation proceeds required by Lender pursuant to this Loan Agreement or the Mortgages in the absence of an Event of Default, (ii) Scheduled Mortgage Principal Payments.
Borrower shall cause each Mortgage Principal to forever warrant, defend and preserve the title to such ownership interests in the applicable Mortgage Borrower Entity and to forever warrant and defend the same to Lender against the claims of all persons whomsoever.
The 1st Mortgage Principal Reduction Program will assist the underemployed and/or income restricted homeowner candidates to keep occupancy and ownership of their home.
The Agency hereby grants to the Company exemption from mortgage recording taxes for one or more Mortgages securing an aggregate principal amount not to exceed Maximum Mortgage Principal Amount, or such greater amount as approved by the Agency in its sole and absolute discretion, in connection with the financing of the Project and any future financing, refinancing or permanent financing of the costs of the Project (the “Mortgage Recording Tax Exemption”).
Pledgor has delivered to Lender true and correct copies of the Mortgage Borrower Operating Agreement and all other Organizational Documents for the Mortgage Borrower, Mortgage Principal, Pledgor and Principal, all of which are in full force and effect.
Transfer and pledge restrictions under the Mezzanine Loan Documents apply to [Name of Sponsor entity], Borrower, Principal, Mortgage Borrower, Mortgage Principal and any Affiliated Manager or any shareholder, partner, member, non-member manager, any direct or indirect legal or beneficial owner of, Mortgage Borrower, Mortgage Principal, Principal, Borrower, any Guarantor, any Affiliated Manager, or any Pledgor, and Affiliated Franchisor or any non-member manager.
The 1st Mortgage Principal Reduction Program will assist the underemployed, income restricted homeowner candidates to keep occupancy and ownership of their home.
Borrower has complied with, and has caused Senior Mezzanine Borrower, Mortgage Borrower, Baltimore Owner and Mortgage Principal to have complied with, all of the assumptions made with respect to Senior Mezzanine Borrower, Borrower, Mortgage Borrower, Baltimore Owner and Mortgage Principal in the Insolvency Opinion.