Mortgaged Property Requirements definition

Mortgaged Property Requirements means, with respect to each Mortgaged Property, each of the following, in form and substance reasonably satisfactory to the Administrative Agent:
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Mortgaged Property Requirements means the obligation to provide to the Collateral Agent a Mortgage with respect to any real property acquired by any Loan Party after the Original Restatement Effective Date that the Administrative Agent reasonably determines is material to the business of Holdings and its Subsidiaries, duly executed and delivered by the applicable Loan Party, together with:
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Mortgaged Property Requirements shall have the meaning set forth in Section 5.12(a)(iii).
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Examples of Mortgaged Property Requirements in a sentence

  • Following the Closing Date, the Company may add additional tracts of real property owned (or to the extent constituting a Permitted Leasehold Mortgaged Property, leased) by the Company or any of its Subsidiaries as Mortgaged Properties (each an “Additional Mortgaged Property”), subject to the satisfaction of the Additional Mortgaged Property Requirements.

  • Following the Closing Date, the Company may add additional tracts of real property owned by the Company or any of its Subsidiaries as Mortgaged Properties (each an “Additional Mortgaged Property”), subject to the satisfaction of the Additional Mortgaged Property Requirements.

  • Upon receipt of the Approved Property Requirements or the Mortgaged Property Requirements, as applicable, the Agent (or in the case of a Proposed Mortgaged Property, the Agent and the Majority Lenders) shall have the right to approve or reject, in its sole discretion, the Proposed Mortgaged Property or Proposed Approved Property.


More Definitions of Mortgaged Property Requirements

Mortgaged Property Requirements means the obligation to provide to the Collateral Agent a Mortgage with respect to any real property acquired by any Loan Party after the Restatement Effective Date that the Administrative Agent reasonably determines is material to the business of Holdings and its Subsidiaries, duly executed and delivered by the applicable Loan Party, together with:
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Mortgaged Property Requirements means, for any date: (i) if such date falls at any time on or after May 2, 2005, the Mortgaged Property Value shall be at least 70% of the Total Desktop Analysis Value, (ii) if such date falls at any time on or after May 31, 2005, the Mortgaged Property Value shall be at least 90% of the Total Desktop Analysis Value, (iii) if such date falls at any time on or after May 31, 2005, the Covered Property Value shall be at least 70% of the Total Desktop Analysis Value and (iv) if such date falls at any time on or after June 30, 2005, the Covered Property Value shall be at least 90% of the Total Desktop Analysis Value. A Mortgaged Property Requirement shall be deemed to be outstanding on any date if such Mortgaged Property Requirement has not been satisfied on such date. Once a Mortgaged Property Requirement has been satisfied, it shall no longer be required or tested hereunder except as set forth in the definitions of Mortgaged Property Value or Covered Property Value.
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Mortgaged Property Requirements means, with respect to each Mortgaged Property, each of the following, in form and substance reasonably satisfactory to the Administrative Agent: (a) a Mortgage (or an amendment thereto to the extent that Administrative Agent reasonably requests such amendment) encumbering such Mortgaged Property in favor of the Administrative Agent, duly executed and acknowledged by each Loan Party that is the owner of or holder of any interest in such Mortgaged Property, and otherwise in form necessary for recording in the recording office of each applicable political subdivision where each such Mortgaged Property is situated, together with such certificates, affidavits, questionnaires or returns as shall be required in connection with the recording or filing thereof in order to create in favor of the Administrative Agent (for the benefit of the Secured Parties) a valid, perfected first priority security interest and mortgage lien (subject to Permitted Liens) under Requirements of Law, and such UCC-1 financing statements and any other instruments as are, in the judgment of the Administrative Agent, necessary to create in favor of the Administrative Agent (for the benefit of the Secured Parties) a valid, perfected first priority security interest and mortgage lien (subject to Permitted Liens) under Requirements of Law; 34
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Related to Mortgaged Property Requirements

  • Mortgaged Properties the real properties listed on Schedule 1.1B, as to which the Administrative Agent for the benefit of the Lenders shall be granted a Lien pursuant to the Mortgages.

  • Mortgaged Property shall have the meaning assigned to such term in the recitals.

  • Underlying Mortgaged Property With respect to each Co-op Loan, the underlying real property owned by the related residential cooperative housing corporation.

  • Mortgaged Real Property means each of the parcels of real property set forth on Schedule 4 hereto, or interests therein, owned in fee by a Credit Party, together with each other parcel of Real Property that shall become subject to a Mortgage after the Closing Date, in each case together with all of such Credit Party’s right, title and interest in the improvements and buildings thereon and all appurtenances, easements or other rights belonging thereto.

  • Closing Date Mortgaged Property as defined in Section 3.1(i).

  • Mortgaged Premises means any real property which shall now or hereafter be subject to a Note Mortgage and/or an ABL Mortgage.

  • Mortgage Collateral the “Collateral” as defined in the Mortgage Loan Agreement.

  • Additional Mortgaged Property has the meaning assigned to that term in subsection 6.9.

  • Real Property Collateral means the parcel or parcels of Real Property identified on Schedule R-1 and any Real Property hereafter acquired by Borrower.

  • Leased Properties have the meaning set forth in Section 3.16 herein.

  • Personal Property Collateral means all Collateral other than Real Property.

  • Historic property means any prehistoric or historic site, district, building, object, or other real or personal property of historical, architectural, or archaeological value, and folklife resources. These properties or resources may include, but are not limited to, monuments, memorials, Indian habitations, ceremonial sites, abandoned settlements, sunken or abandoned ships, engineering works, treasure trove, artifacts, or other objects with intrinsic historical or archaeological value, or any part thereof, relating to the history, government, and culture of Florida.

  • Subject Properties has the meaning specified in Section 5.13(a).

  • Borrowing Base Property means Eligible Property and/or Commercial Land that the Administrative Agent has agreed to include in calculations of the Borrowing Base pursuant to Section 4.1. A Property shall be excluded from the determination of the Borrowing Base if at any time such Property shall cease to be an Eligible Property.

  • Mortgage Assets The Mortgage Loans to be included in the Trust Fund are as described in Annex A hereto.

  • UCC Collateral is defined in Section 3.03.

  • Borrowing Base Properties means the Oil and Gas Properties of the Loan Parties included in the Initial Reserve Report and thereafter in the most recently delivered Reserve Report delivered pursuant to Section 8.12.

  • Real Property Assets means, as of any time, the real property assets (including interests in participating mortgages in which the Borrower’s interest therein is characterized as equity according to GAAP) owned directly or indirectly by the Borrower, EQR and the Consolidated Subsidiaries of either or both at such time.

  • Individual Property means each parcel of real property, the Improvements thereon and all Personal Property owned by Mortgage Borrower and encumbered by a Mortgage, together with all rights pertaining to such Property and Improvements, as more particularly described in each Mortgage and referred to therein as the “Property”.

  • Real Properties means, at any time, a collective reference to each of the facilities and real properties owned, leased or operated by the Consolidated Parties at such time.

  • Subject Property means any premises located in the County on which an energy efficiency improvements, water efficiency improvements, or renewable resource applications are being or have been made and financed through an outstanding PACE loan.

  • Landlord Personal Property Collateral Access Agreement means a Landlord Waiver and Consent Agreement substantially in the form of Exhibit K with such amendments or modifications as may be approved by the Collateral Agent.

  • Environmental and Safety Requirements means all federal, state, local and foreign statutes, regulations, ordinances and similar provisions having the force or effect of law, all judicial and administrative orders and determinations, all contractual obligations and all common law concerning public health and safety, worker health and safety and pollution or protection of the environment, including all such standards of conduct and bases of obligations relating to the presence, use, production, generation, handling, transport, treatment, storage, disposal, distribution, labeling, testing, processing, discharge, release, threatened release, control, or cleanup of any hazardous materials, substances or wastes, chemical substances or mixtures, pesticides, pollutants, contaminants, toxic chemicals, petroleum products or by-products, asbestos, polychlorinated biphenyls (or PCBs), noise or radiation.

  • School property means in or within any building, structure, athletic playing field, playground, parking lot or land contained within the real property boundary line of a public elementary or secondary school, or in or on a school bus, as defined in Vehicle and Traffic Law §142.

  • Insurance Requirements means all terms of any insurance policy required by this Agreement and all requirements of the issuer of any such policy and all orders, rules and regulations and any other requirements of the National Board of Fire Underwriters (or any other body exercising similar functions) binding upon Landlord, Tenant or the Leased Property.