Mortgagee Title Policy definition

Mortgagee Title Policy. As defined in the Security Instrument.

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Mortgagee Title Policy means the policy of title insurance that the Title Company issued to Borrower (as successor-in-interest to Underlying Initial Lender), as lender, at the time of origination of the Collaterally Assigned Loan, as the same may be amended from time to time in accordance with the terms hereof.

Mortgagee Title Policy showing Lender as the insured thereunder, in the full amount of the Loan proceeds that may be advanced hereunder and in form and substance satisfactory to Lender. The Mortgagee Title Policy shall be written by the Title Company on behalf of an underwriter satisfactory to Lender and shall insure a valid first lien upon the Premises by virtue of the Deed of Trust, subject only to exceptions specifically approved in writing by Lender. If the underwriter issuing the Mortgagee Title Policy becomes insolvent or is placed in receivership or for any other reason such Policy becomes unenforceable, Borrower shall furnish Lender, at Borrower’s expense, another mortgagee title insurance policy in the amount and in substitution for the original Mortgagee Title Policy and meeting the above requirements.

Examples of Mortgagee Title Policy in a sentence

• Borrower shall have furnished Lender with the Mortgagee Title Policy.

• Without limitation of the foregoing, Borrower shall pay the costs of UCC and other searches, UCC and other Loan Document recording fees and applicable taxes, and premiums on each Mortgagee Title Policy delivered to Agent pursuant to this Agreement.

• If the underwriter issuing the Mortgagee Title Policy becomes insolvent or is placed in receivership or for any other reason such Policy becomes unenforceable, Borrower shall furnish Lender, at Borrower's expense, another mortgagee title insurance policy in the amount and in substitution for the original Mortgagee Title Policy and meeting the above requirements.

• The Collaterally Assigned Loan is insured under the Mortgagee Title Policy.

• Service Provider agrees to indemnify and hold harmless the College and its trustees, officers, employees, and representatives from any and all actions, suits, claims, demands and proceedings, and any judgments, losses, damages, liabilities, including attorneys’ fees, arising from any statement, act, or omission of the Service Provider arising under this Agreement.

• Borrower shall furnish to Lender, at Borrower's expense, a mortgagee title insurance policy (herein called the "Mortgagee Title Policy") showing Lender as the insured thereunder, in the amount of the Loan and in form and substance and written by the Title Company on behalf of an underwriter reasonably satisfactory to Lender insuring a valid first lien upon the Premises by virtue of the Deed of Trust and containing no exceptions except those specifically waived in writing by Lender.

• The Mortgagee Title Policy is in full force and effect and all premiums thereon have been paid.

• Buyer shall be responsible for any Mortgagee Title Policy or other Title Policy charges.

• If the underwriter issuing the Mortgagee Title Policy becomes insolvent or is placed in receivership or for any other reason such Mortgagee Title Policy becomes unforceable, Borrower shall furnish Lender, at Borrower’s expense, another mortgagee title insurance policy in the amount of, and in substitution for, the original Mortgagee Title Policy and meeting the above requirements.

• If the underwriter issuing the Mortgagee Title Policy becomes insolvent or is placed in receivership or for any other reason such Policy becomes unenforceable, Borrower shall furnish Lender, at Borrower’s expense, another mortgagee title insurance policy in the amount and in substitution for the original Mortgagee Title Policy and meeting the above requirements.

More Definitions of Mortgagee Title Policy

Mortgagee Title Policy is defined in Section 4.1.

Mortgagee Title Policy means the mortgagee title policy issued by the Title Company to the Bank covering the Project.

Mortgagee Title Policy has the meaning ascribed to such term in Section 10.5(b).

Mortgagee Title Policy means the mortgagee title insurance policy, in the form of ALTA Loan Policy - 1970 Form B, or such other form as is acceptable to the Bank, to be issued to Bank by the Title Company, and including all endorsements thereto, all in a form and with such exceptions as deemed reasonable by the Bank and insuring the lien of the Deed of Trust.

Mortgagee Title Policy has the meaning set forth in Section 2.03(g) of the Participation Agreement.