Pledged Mortgage Bond definition

Pledged Mortgage Bond is defined in Section 1.2.
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Examples of Pledged Mortgage Bond in a sentence

  • No action, including any filing, registration, notice or approval, is necessary or advisable in New Jersey, New York or any other jurisdiction to establish or protect for the benefit of the Trustee and the holders of Notes, that the Notes are secured by the Pledged Mortgage Bond.

  • Excluding the Notes, the Pledged Mortgage Bond currently secures $35,000,000 in aggregate principal amount of medium term notes of the Company issued under the Indenture.

  • The Company will not cause or permit the Mortgage or the Pledged Mortgage Bond to be amended to change the amount or time of any prepayment or payment of principal of, or reduce the rate or change the time of payment or method of computation of interest or of the Make-Whole Amount on the Pledged Mortgage Bond as set forth in the Mortgage and the Pledged Mortgage Bond, without the written consent of the holder of each Note.

  • The Company shall have performed and complied with all agreements and conditions contained in the Indenture and the Mortgage which are required to be performed or complied with by the Company for the issuance of the applicable Notes and the Pledged Mortgage Bond.

  • The Pledged Mortgage Bond was issued under the Twenty-Fifth Supplemental Indenture dated as of March 29, 2012 between the Company and The Bank of New York Mellon, as trustee (the “Twenty-Fifth Supplemental Mortgage Indenture”), which supplements the First Mortgage dated October 1, 1947 from the Company to The Bank of New York Mellon, as trustee (the “Mortgage Trustee”), as successor trustee to Guarantee Bank and Trust Company, as supplemented to date and from time to time hereafter (the “Mortgage”).

  • The Company shall have delivered to such Purchaser a certificate of its Secretary or Assistant Secretary, dated the date of the Closing, certifying as to the resolutions attached thereto and other corporate proceedings relating to the authorization, execution and delivery of this Agreement, the Notes and the Pledged Mortgage Bond.

  • The Company shall have performed and complied with all agreements and conditions contained in the Indenture and the Mortgage which are required to be performed or complied with by the Company for the issuance of the Notes and the Pledged Mortgage Bond.

  • Such Purchaser shall have received written confirmation from the Trustee that it has possession of the Pledged Mortgage Bond in an aggregate outstanding principal amount of $125,000,000 and that there are no outstanding medium term notes of the Company issued under the Indenture prior to the issuance of the Notes that are secured by the Pledged Mortgage Bond.

  • Excluding the Notes, the Pledged Mortgage Bond does not currently secure any medium term notes of the Company.

  • Each Purchaser with respect to the Closing shall have received written confirmation from the Trustee that it has possession of the Pledged Mortgage Bond in the outstanding principal amount of $200,000,000 and that prior to the issuance of any of the Notes, there are no outstanding medium term notes of the Company issued under the Indenture that are secured by the Pledged Mortgage Bond.

Related to Pledged Mortgage Bond

  • Pledged Asset Mortgage Loan A Mortgage Loan as to which, at the time of origination, a Letter of Credit was issued in favor of the initial holder of such Mortgage Loan.

  • Qualified Mortgage Insurer Any mortgage insurer that is Xxxxxx Xxx and Xxxxxxx Mac approved.

  • Lender-Paid Mortgage Insurance Rate With respect to any Lender-Paid Mortgage Insurance Loan, a per annum rate equal to the percentage indicated on the Mortgage Loan Schedule under the heading "Lender-Paid Mortgage Insurance Rate."

  • Lender-Paid Mortgage Insurance Loan Each of the Mortgage Loans identified on the Mortgage Loan Schedule as having a Lender-Paid Mortgage Insurance Rate.

  • Mortgage-Backed Security means a security issued by the authority which is secured by residential mortgage loans owned by the authority.

  • First Mortgage Bonds means bonds issued by the Company pursuant to the Indenture.

  • First Mortgage Indenture means a first mortgage indenture pursuant to which any Borrower or any Subsidiary of any Borrower may issue bonds, notes or similar instruments secured by a lien on all or substantially all of such Borrower’s or such Subsidiary’s fixed assets, as the case may be.

  • Blanket Mortgage The mortgage or mortgages encumbering a Cooperative Property.

  • Existing Mortgage has the meaning specified in Section 5.02(a)(vi).

  • Permitted Mortgage means (a) any purchase money mortgage on such Principal Property prior to, simultaneously with or within 180 days after the later of (1) the acquisition or completion of construction or completion of substantial reconstruction, renovation, remodeling, expansion or improvement (each, a “substantial improvement”) of such Principal Property or (2) the placing in operation of such property after the acquisition or completion of any such construction or substantial improvement; (b) Mortgages on a Principal Property existing at the time of acquisition, including acquisition through merger or consolidation; (c) Mortgages existing on the date of the initial issuance of the Notes, Mortgages on assets of a corporation or other business entity existing on the date it becomes a Restricted Subsidiary or is merged or consolidated with the Company or a Restricted Subsidiary or at the time the corporation or other business entity sells, leases or otherwise disposes of its property as an entirety or substantially as an entirety to the Company or a Restricted Subsidiary or Mortgages on the assets of a Subsidiary that is newly designated as a Restricted Subsidiary if the Mortgage would have been permitted under the provisions of this paragraph if such Mortgage was created while the Subsidiary was a Restricted Subsidiary; (d) Mortgages in favor of the Company or a Restricted Subsidiary; (e) Mortgages for taxes, assessments or governmental charges or levies that are not delinquent or that are being contested in good faith; (f) carriers’, warehousemen’s, materialmen’s, repairmen’s, mechanic’s, landlords’ and other similar Mortgages arising in ordinary course of business that are not delinquent or remain payable without penalty or that are being contested in good faith; (g) Mortgages (other than any Mortgage imposed by the Employee Retirement Income Security Act of 1974) consisting of pledges or deposits required in the ordinary course of business in connection with workers’ compensation, unemployment insurance and other social security legislation; (h) easements, rights-of-way, restrictions, encroachments, imperfections and other similar encumbrances affecting real property that, in the aggregate, are not substantial in amount and do not in any case materially detract from the value of the Principal Property subject thereto or materially interfere with the ordinary conduct of the Company and its Subsidiaries’ business, taken as a whole; (i) Mortgages arising by reason of deposits with, or the giving of any form of security to, any governmental agency or any body created or approved by law or governmental regulation, including any zoning or similar law or right reserved to or vested in any governmental office or agency to control or regulate the use of any real property; (j) Mortgages arising from filing Uniform Commercial Code financing statements relating solely to leases; and (k) Mortgages to secure Indebtedness incurred to extend, renew, refinance or replace Indebtedness secured by any Mortgages referred to above, provided that the principal amount of the extended, renewed, refinanced or replaced Indebtedness does not exceed the principal amount of Indebtedness so extended, renewed, refinanced or replaced, plus transaction costs and fees, and that any such Mortgage applies only to the same property or assets subject to the prior permitted Mortgage (and, in the case of real property, improvements).

  • Destroyed Mortgage Note A Mortgage Note the original of which was permanently lost or destroyed and has not been replaced.

  • Net Mortgage Interest Rate As to any Mortgage Loan and Distribution Date, such Mortgage Loan's Mortgage Interest Rate thereon on the first day of the month preceding the month of the related Distribution Date reduced by (i) the Servicing Fee Rate and (ii) the Trustee Fee Rate.

  • Mortgage Indenture means the Mortgage and Deed of Trust, dated as of April 1, 1932, between SIGECO and Bankers Trust Company (as supplemented from time to time before or after the date hereof by various supplemental indentures thereto).

  • Released Mortgaged Property Proceeds As to any Mortgage Loan, proceeds received by the Servicer in connection with (a) a taking of an entire Mortgaged Property by exercise of the power of eminent domain or condemnation or (b) any release of part of the Mortgaged Property from the lien of the related Mortgage, whether by partial condemnation, sale or otherwise, which are not released to the Mortgagor in accordance with applicable law and mortgage servicing standards the Servicer would use in servicing mortgage loans for its own account and this Agreement.

  • Pledged Asset Mortgage Servicing Agreement The Pledged Asset Mortgage Servicing Agreement, dated as of February 28, 1996 between MLCC and the Master Servicer. Pooling and Servicing Agreement or Agreement: With respect to any Series, this Standard Terms together with the related Series Supplement.

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

  • Mortgage Interest Rate For any Mortgage Loan, the per annum rate at which interest accrues on such Mortgage Loan pursuant to the terms of the related Mortgage Note.

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

  • First Mortgage means a Mortgage that constitutes a first Lien on the real property and improvements described in or covered by that Mortgage.

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

  • Minimum Mortgage Interest Rate With respect to each Adjustable Rate Mortgage Loan, a rate that is set forth on the related Mortgage Loan Schedule and in the related Mortgage Note and is the minimum interest rate to which the Mortgage Interest Rate on such Mortgage Loan may be decreased on any Adjustment Date.

  • Lost Mortgage Note Any Mortgage Note the original of which was permanently lost or destroyed and has not been replaced.

  • First Mortgage Loan A Home Equity Loan which constitutes a first priority mortgage lien with respect to any Property.

  • Mortgage Notes means, collectively, the promissory notes aggregating $310,000,000 principal amount issued pursuant to the Mortgage Note Agreements, dated December 12, 1991 and executed by the Operating Partnership, together with and any loan agreement and security documents executed in connection therewith, any and all instruments given in renewal, extension, modification, or rearrangement of or in substitution or replacement for any one or more of the foregoing described promissory notes and other documents, whether given to the original purchaser thereof (or its designee) or any other Person and other documents.

  • Conforming Mortgage Loan means a first lien Mortgage Loan originated in accordance with the criteria of an Agency for purchase of Mortgage Loans, including, without limitation, conventional Mortgage Loans, as determined by Buyer in its sole discretion.

  • Lender PMI Mortgage Loan Certain Mortgage Loans as to which the lender (rather than the borrower) acquires the Primary Insurance Policy and charges the related borrower an interest premium.