Prime Mortgage definition

Prime Mortgage means a first Mortgage which secures a loan which does not exceed 75% of the value, at the time of funding, of the Real Property against which the Mortgage is registered;
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Prime Mortgage also includes certain agreements entered into in connection with a "sale and leaseback" transaction, as described in Section of this Lease.
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Prime Mortgage. A mortgage, deed of trust, deed to secure debt, assignment, security interest, pledge, financing statement or any other instrument(s) or agreement(s) intended to grant security encumbering the Leasehold Estate, for any obligation (including a purchase-money or other promissory note) as entered into, renewed, modified, consolidated, amended, extended or assigned from time to time during the Term. A "Prime Mortgage" also includes certain agreements entered into in connection with a "sale and leaseback" transaction, as described in Section of this Lease.
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Examples of Prime Mortgage in a sentence

  • The substance of any such waiver, alteration or modification has been approved by the title insurer, if any (and with respect to Prime Mortgage Loans and Alt-A Mortgage Loans, the issuer of any related PMI Policy, if any), to the extent required by the policy, and its terms are reflected on the related Mortgage Loan Schedule, if applicable.

  • Any Prime Mortgage Loan or Alt-A Mortgage Loan that had at the time of origination an LTV in excess of 100% is insured as to payment defaults by a PMI Policy.

  • A Buydown is a reduction in the aggregate amount of the Warehousing Advances outstanding against Prime Mortgage Loans, but does not represent the prepayment of any particular Warehousing Advance, and does not entitle Borrower to the release of any Collateral.

  • Borrower agrees to have a Lock in its possession related to each Eligible Prime Mortgage Loan to be originated or acquired hereunder, and to comply with all Qualified Investor requirements in order to maintain each such Lock in full force until the Purchase Date.

  • Each Buydown must be in an amount not less than $5,000, and Buydowns may not exceed the aggregate principal balance of the Warehousing Advances outstanding against Prime Mortgage Loans.

  • Prime Mortgage Trust, Mortgage Pass-Through Certificates, Series 2005-4 Re: Custodial Agreement, dated as of September 30, 2005, by and among U.S. Bank National Association, Structured Asset Mortgage Investments II Inc.

  • The Party who is not part of the submission shall identify any confidential information, potentially patentable information, or subject matter owned in whole or in part by such non- publishing Party and provide comments to the publishing Party within 21 days of receipt of the manuscript.

  • Definition: A First Mortgage Loan that is not a Prime Mortgage Loan, which has a risk rating of "A-", "B" or "C" (determined using underwriting standards which comply with industry standards in the sole judgement of the Lender), which is made to a mortgagor with a FICO Score of no less than 500, and which is acceptable for purchase by at least two Investors.

  • Prime Mortgage Trust 2003-2, Mortgage Pass-Through Certificates, Series 2003-2 Re: Custodial Agreement, dated as of October 30, 2003, by and among U.S. Bank National Association, Structured Asset Mortgage Investments II Inc.

  • Prime Mortgage Trust 2003-1, Mortgage Pass-Through Certificates, Series 2003-1 Re: Custodial Agreement, dated as of May 30, 2003, by and among JPMorgan Chase Bank, Structured Asset Mortgage Investments Inc.

Related to Prime Mortgage

  • Fee Mortgage Any mortgage, pledge agreement, security agreement, assignment of leases and rents, fixture filing or similar document creating or evidencing a lien on Landlord’s interest in the Leased Property or any portion thereof (or an indirect interest therein, including without limitation, a lien on direct or indirect interests in Landlord) in accordance with the provisions of Article XXXI hereof.

  • High Cost Home Mortgage Loan as defined in the Massachusetts Predatory Home Loan Practices Act effective November 7, 2004 or (iv) a "High-Cost Home Loan" as defined by the Indiana High Cost Home Loan Law effective January 1, 2005.

  • Facility Mortgage As defined in Section 13.1.

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

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