Mortgage Release Date definition

Mortgage Release Date means the earlier of the following two dates: (1) the date on which the indebtedness and obligations secured by the Mortgage have been fully paid and performed and the Mortgage has been released of record; or (2) the date on which the Mortgage is foreclosed, or a conveyance by a deed in lieu of foreclosure is effective, and possession of the Property has been given to and accepted by a Person other than Lender or SBA free of occupancy, redemption rights or any other claim by Borrower or guarantors of the Loan.
Sample 1Sample 2Sample 3
Mortgage Release Date means the earlier to occur of (i) the date that the Borrower obtains an Investment Grade rating and (ii) the date upon which the Commitments have been terminated, no Note is outstanding, all Loans have been repaid in full, all Letters of Credit have been terminated and all Indebtedness then due and payable has been paid in full.
Sample 1Sample 2
Mortgage Release Date means the first date on which the Borrower has been in compliance with the Total Leverage Ratio Financial Covenant for two consecutive Test Periods each of which shall have ended following the Covenant Relief Period End Date.
Sample 1Sample 2

Examples of Mortgage Release Date in a sentence

  • Prior to the Mortgage Release Date, Indemnitors shall not record or cause to be recorded any document containing a provision that could enable any Person to control the use or ownership of the Property, such as a purchase option; repurchase option; or restrictive covenant such as one that limits the brand of fuel that can be sold on the Property.

  • Indemnitors' responsibility for Remediation under this Agreement shall continue until the earlier of: (1) the Mortgage Release Date; or (2) the responsible Governmental Entity issues a No Further Action Letter or equivalent written assurance that the applicable, relevant and appropriate requirements and standards in the Environmental Laws ARARs have been met.

  • Indemnitors' responsibility for Remediation under this Agreement shall continue until the earlier of: (1) the Mortgage Release Date; or (2) the responsible Governmental Entity issues a No Further Action Letter or equivalent written assurance that the applicable, relevant and appropriate requirements and standards in the Environmental Laws have been met.


More Definitions of Mortgage Release Date

Mortgage Release Date means the earlier of the following two dates: (1) the date on which the indebtedness and obligations secured by the Mortgage have been fully paid and performed and the Mortgage has been released of record; or (2) the date on which the Mortgage is foreclosed, or a conveyance by a deed in lieu of foreclosure is effective, and possession of the Property has been given to and accepted by a Person other than Lender or SBA free of occupancy, redemption rights or any other claim by Borrower or guarantors of the Loan.
Sample 1Sample 2Sample 3
Mortgage Release Date has the meaning set forth in Section 2.6.
Sample 1
Mortgage Release Date means the date that PXP obtains an Investment Grade Rating.
Sample 1
Mortgage Release Date shall have the meaning provided in Section 13.20.
Sample 1

Related to Mortgage Release Date

  • Release Date means the date on which the Initial Shares are disbursed from escrow pursuant to Section 3 of that certain Stock Escrow Agreement dated as of the date hereof by and among the Investors and Continental Stock Transfer & Trust Company.

  • Existing Mortgage has the meaning specified in Section 5.02(a)(vi).

  • Scheduled Completion Date shall be the date set forth in Clause 10.3;