Mortgage Property definition

Mortgage Property is defined in Section 1.

Mortgage Property the collective reference to the real properties owned by the Grantors described on Schedule 7.

Mortgage Property means (a) any real property owned by a Loan Party which has a value in excess of $1,000,000 and (b) any other Real Property, whether owned or leased, for which a Mortgage is granted to secure the Senior High Yield Debt Documents or Other Secured Debt Documents.

Examples of Mortgage Property in a sentence

• The assignment of Mortgage need not be delivered in the case of a Mortgage for which the related Mortgage Property is located in the Commonwealth of Puerto Rico.

• The Servicer shall advance its funds to effect payments on any such delinquent payments to avoid lapse of insurance coverage on the Mortgage Property or to avoid the sale or other loss of the Mortgaged Property to a tax lien.

• After obtaining the broker's price opinion, the Servicer will determine, in its reasonable business judgment, whether a net recovery is possible through foreclosure proceedings or other liquidation of the related Mortgage Property.

• With respect to Non-Escrow Mortgage Loans, the Servicer shall use reasonable efforts consistent with Accepted Servicing Practices to determine that any such payments are made by the Mortgagor at the time they first became due and that such Mortgage is not left uninsured and shall make advances from its own funds to effect any such delinquent payments to avoid the lapse of insurance coverage on the Mortgaged Property or to avoid the sale or other loss of the Mortgage Property to a tax lien.

• The Mortgage File contains an appraisal of the related Mortgage Property or the Cooperative Unit, as applicable, signed prior to the approval of the Mortgage Loan application by a Qualified Appraiser.

More Definitions of Mortgage Property

Mortgage Property means, with respect to each Mortgage Loan, the real or immoveable property mortgaged, charged or hypothecated pursuant to such Mortgage Loan, including all fixtures attached thereto;

Mortgage Property has the meaning set forth in Section 7.15.

Mortgage Property means the fully constructed one-to-four family residential real property that is encumbered by a Mortgage (or that is now or becomes REO Property), including all buildings and fixtures thereon and all accessions thereto, including installations of mechanical, electrical, plumbing, heating and air conditioning systems located in or affixed to such buildings, and all alterations, additions and replacements.

Mortgage Property means, for any date or period of time, the “Property” as defined in the Existing Fee Mortgage that is encumbered thereby on or as of such date or during such period of time.

Mortgage Property means the land, buildings, fixtures and improvements constituting the mini-mill facility of Borrower located in Charlotte, North Carolina, together with any additions and improvements thereto.

Mortgage Property or “Mortgage Properties” shall mean collectively the First Mortgaged Property, Second Mortgage Property, Third Mortgage Property, Fourth Mortgage Property, Fifth Mortgage Property, Sixth Mortgage Property and General Assets;

Mortgage Property means, as of any date, an Eligible Collateral Pool Property which is encumbered by a Mortgage securing the Obligations of the Lenders. The initial Mortgage Properties are the Projects specifically identified on Exhibit I-1 hereto.