New Mortgage definition

New Mortgage shall have the meaning provided in Section 7.10.

New Mortgage means the first preferred Liberian mortgage on “AMOUREUX” executed or to be executed by Amoureux Carriers in favour of the Security Trustee in such form as the Lenders may approve or require.

New Mortgage means, in relation to a New Ship, the priority or preferred (as applicable) ship mortgage on a New Ship and, if applicable, the deed of covenant collateral thereto, in agreed form.

Examples of New Mortgage in a sentence

• Any term of this Agreement to which effect is not given on the Initial Closing Date or on any Assignment Date (including in particular, but without limitation, the liability of the Seller under the Representations and Warranties and the provisions of Clause 4 (Sale and Purchase of New Mortgage Portfolios)) shall not merge and shall remain in full force and effect notwithstanding the sale and purchase contemplated by this Agreement.

• The Mortgage Portfolio may be augmented from time to time by the sale and assignment to the Mortgages Trustee on any Distribution Date of a New Mortgage Portfolio by the Seller.

• Illinois Power Company has caused this New Mortgage Bond to be signed (manually or by facsimile signature) in its name by an Authorized Executive Officer, as defined in the Indenture, and its corporate seal (or a facsimile thereof) to be hereto affixed and attested (manually or by facsimile signature) by an Authorized Executive Officer, as defined in the Indenture.

• The New Mortgage bears interest at 12%, is secured by a first charge on the Property and matures on December 15, 2020.

• The parties acknowledge and agree that the Mortgage Sale Agreement provides that (a) the Seller may not assign New Mortgage Loans to the Mortgages Trustee during any Trust Calculation Period prior to the Distribution Date in such Trust Calculation Period, and (b) the Seller may only make one assignment of New Mortgage Loans to the Mortgages Trustee during any Trust Calculation Period.

More Definitions of New Mortgage

New Mortgage has the meaning stated in Section 21.

New Mortgage means a mortgage, deed of trust or deed to secure debt, as applicable, substantially in the form of Exhibit I-1 or otherwise in form and substance reasonably acceptable to Administrative Agent, granted on or after the Closing Date in favor of Administrative Agent as security for the Obligations, as it may be amended, supplemented or otherwise modified from time to time.

New Mortgage means, collectively, the "New Mortgages" referred to in item 11 of Exhibit D and any mortgages and supplements executed pursuant to Section 8.09 (a) hereof.

New Mortgage means that certain mortgage between Bank of America, N.A. and the Debtors concerning the Maine Property, providing for monthly payments based upon a principal amount of $650,000, payable at a 5% interest rate over thirty years.

New Mortgage means, in relation to:

New Mortgage means, in the case of a New Ship, a first preferred Liberian mortgage on that New Ship executed or, as the case may be, to be executed by the New Owner which is the owner of that New Ship in favour of the Security Trustee, in such form as the Lenders may approve or require and, in the plural, means both of them;

New Mortgage means each mortgage, deed of trust or agreement executed and delivered by any Credit Party in favor of the Collateral Agent for the benefit of the Secured Parties in substantially the form of Exhibit J-1 hereto with respect to any real property located in the United States that is owned or subject to a long term lease by the Borrower or any Domestic Subsidiary but not subject to an Existing Mortgage, and in each case as the same may be further amended, supplemented, amended and restated or otherwise modified from time to time.