Pledged Mortgage Asset definition

Pledged Mortgage Asset means the Mortgage Assets that have been pledged to the Administrative Agent as Collateral under the Security Documents.

Pledged Mortgage Asset. On any date of determination, any Mortgage Asset that has been Granted to the Collateral Agent and not been released from the lien of this Indenture and Credit Agreement pursuant to Section 10.7 hereof.

Pledged Mortgage Asset. On any date of determination, any Mortgage Asset that has been Granted to the Collateral Agent (including any Mezzanine Loan related to such Mortgage Asset which is Collateral hereunder) and not been released from the lien of this Indenture and Credit Agreement pursuant to Section 10.6 hereof.

Examples of Pledged Mortgage Asset in a sentence

• In the case of any Pledged Mortgage Asset not physically delivered to the Administrative Agent as agent for the Lenders (or the Custodian on its behalf) unless otherwise consented to by the Administrative Agent, the Borrowers shall maintain, or cause to be maintained, each of the Securities (as defined in the UCC) with either DTC or with the National Book Entry System of the Federal Reserve, DTC or any similar firm or agency, as applicable, in the name of the Administrative Agent as agent for the Lenders.

• If requested, the Custodian may deliver any such Pledged Mortgage Asset in physical form for examination (prior to receipt of the sales proceeds) in accordance with street delivery custom.

• The Custodian shall deliver any agreements and other documents in its possession relating to such Pledged Mortgage Asset.

• The terms and provisions governing required paydowns in connection with the Kroger Pledged Mortgage Asset are set forth in the Fee Letter and are hereby incorporated by reference.

• To the extent there are annual dividends or distributions in excess of $10,000,000 from the Prime Pledged Mortgage Asset, the Borrowers shall prepay the Loans in an aggregate principal amount equal to one hundred percent (100%) of all such excess dividends or distributions.

• The Custodian shall (i) deliver any agreements and other documents in its possession relating to such Pledged Mortgage Asset and (ii) the Trustee, if applicable, duly assign each such agreement and other document, in each case, to the broker or purchaser designated in such Issuer Order or to the Issuer if so requested in the Issuer Order.

• Notwithstanding the foregoing, upon payment of the Total ESH Release Amount, and provided no Defaults or Events of Defaults have occurred and are continuing, and that payments have been made in reduction of the Working Capital Facility from and after the Restatement Date in the aggregate amount of $15,256,263, the ESH Pledged Mortgage Asset (including the A-1 common units) shall be released from the Administrative Agent’s Lien.

• Any payments received with respect to clause (A) or (B) shall be applied to the Pledged Mortgage Asset creating a Deficit and any payment received with respect to clause (C) shall be applied to the Term Loans, the Reindeer Debt and/or the Revolving Loans in such order and manner as determined by the Administrative Agent in its reasonable discretion.

• The terms and conditions governing the Administrative Agent’s release of its Lien on the FM Global Pledged Mortgage Asset are set forth in the Fee Letter, which terms and provisions are hereby incorporated by reference.

• To the extent there are annual dividends or distributions in excess of $10,000,000 from the Prime Pledged Mortgage Asset, the Borrowers shall prepay the Term Loans in an aggregate principal amount equal to one hundred percent (100%) of all such excess dividends or distributions.