New IMA Mortgage definition

New IMA Mortgage means that certain mortgage and security agreement executed and delivered by IMA to Lender dated as of the date hereof conveying a first priority lien of the Tuscany Land, as further set forth in Section 4.04 hereof.
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Examples of New IMA Mortgage in a sentence

  • The New IMA Note and all obligations of IMA hereunder shall be secured by the Tuscany ALR, the Environmental Indemnity, the New IMA Mortgage, the Tuscany O/G Assignment, the Guaranty, the Pledge Agreement, and any and all other Loan Documents executed with respect thereto.

  • There shall have been executed and delivered to Lender the Menichi Mortgage, which shall be acceptable for filing in the appropriate jurisdiction and which shall provide for the subordination of the Menichi Mortgage to the Existing IMA Mortgage and the New IMA Mortgage and shall include a preference to the Menichi Mortgage upon Lender’s receipt of Two Million Two Hundred Twenty-Five Thousand and 00/100 Dollars ($2,225,000.00) as proceeds of liquidation of the Tuscany Land.

  • There shall have been executed and delivered to Lender the New IMA Mortgage, pursuant to which IMA shall have conveyed a second in priority lien on the Tuscany Land to Lender, together with evidence satisfactory to Lender and counsel for Lender that the IMA Mortgage has been filed in the appropriate public office.

  • This prohibition on transfer shall apply to all of the property contained in the Land as of the date of this Agreement and shall continue until the date that the BMH Mortgage, the Existing IMA Mortgage and the New IMA Mortgage are all released in their entirety.