Recognized Mortgagee definition

Recognized Mortgagee means the holder of a Recognized Mortgage.

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Recognized Mortgagee shall have the meaning set forth in the Unit Ground Lease.

Recognized Mortgagee has the meaning provided in Section 10.1(c) of this Agreement. "Reimbursement" has the meaning provided in Section 2.3 of this Agreement.

Examples of Recognized Mortgagee in a sentence

The execution and delivery of such instruments, however, shall not be required to effect the assignment of this Lease to such Recognized Mortgagee or such nominee or designee.
In such case, if requested by Recognized Mortgagee, Landlord and Recognized Mortgagee shall cooperate in executing a new lease for the Premises in accordance with this Lease.
A Recognized Mortgagee shall have the right to assign any Recognized Mortgage held by it to a nominee controlled by, or under common control with, it, prior to and in anticipation of the foreclosure of such Recognized Mortgage, and shall not thereby lose its status as a Recognized Mortgagee unless and until such time as such nominee becomes the owner of the leasehold estate created hereby.
Any references in this Agreement to the “Recognized Mortgagee” shall be references to the Recognized Mortgagee or representative of more than one Recognized Mortgagee, acting on behalf of such Recognized Mortgagees, the notice of whose Recognized Mortgage was earliest received by the Authority unless the context otherwise requires.
In such event, Landlord shall be entitled to rely upon such delegation of authority until Landlord shall have received written notice from Tenant and such Recognized Mortgagee indicating that such delegation of authority shall have been revoked or terminated.

More Definitions of Recognized Mortgagee

Recognized Mortgagee means the Institutional Lender that is the holder of the Recognized Mortgage; provided, however, that the Recognized Mortgagee may not be an Affiliate of Tenant (except if Tenant is an Affiliate of the Recognized Mortgagee that has caused this Lease to be assigned to such Affiliate in lieu of foreclosure of the Recognized Mortgage of such Recognized Mortgagee).

Recognized Mortgagee means a mortgagee who has notified City that it is a Recognized Mortgagee and provided an address for notices.

Recognized Mortgagee shall run solely in favor of Pledgee to the exclusion of the Existing Mortgagee. Until such time as Landlord shall receive written notice from Pledgee that Pledgee is assigning its interest as Recognized Mortgagee to the Existing Mortgagee, the Existing Mortgagee shall have no right, power or authority as a “Recognized Mortgagee” under the Severance Lease and Landlord shall be free to ignore any notice or claim by any of the Existing Mortgagee to the contrary.

Recognized Mortgagee and the mortgage as a “Recognized Mortgage” per a ground lease estoppel. The representation is also qualified by the fact that the condemnation awards shall be paid first to the cost of restoration, second to ground lessor for payment of any amounts due and payable under the ground lease which are in default other than percentage rent, third to recognized mortgagee for any amounts due and payable under its recognized mortgage which are in default, fourth to ground lessor for any accrued, but unpaid, percentage rent, fifth to recognized mortgagee to the extent required by recognized mortgagee as a result of the less than substantially all taking, and sixth pursuant to Section 9.1(b)(1) of the ground lease. See exception to rep 34(k) below for casualty proceeds. The representation is also qualified by the fact that no mortgagee (recognized or otherwise) shall have the right to apply any insurance proceeds paid in connection with any casualty toward payment of its loan to the extent the ground lease requires that the ground lessee effect a “Casualty Restoration” with such proceeds. Schedule (1)(a)-10 ▇▇▇▇▇▇▇▇.▇.▇▇▇▇▇▇▇▇

Recognized Mortgagee under the ground lease means the holder of a “Recognized Mortgage”; provided, however, that, except to the extent permitted by Section 11.2(c) of the ground lease, a Recognized Mortgagee may not be an affiliate of the tenant thereunder (except if the tenant is an affiliate of a Recognized Mortgagee that has caused the ground lease to be assigned to such affiliate in lieu of foreclosure of a Recognized Mortgage of such Recognized Mortgagee. The ground lessor recognized TH Commercial Mortgage LLC, a Delaware limited liability company and an affiliate of GPMT, together with its successors and/or assigns, as a “Recognized Mortgagee” and the mortgage as a “Recognized Mortgage” per a ground lease estoppel. The representation is also qualified by the fact that the condemnation awards shall be paid first to the cost of restoration, second to ground lessor for payment of any amounts due and payable under the ground lease which are in default other than percentage rent, third to recognized mortgagee for any amounts due and payable under its recognized mortgage which are in default, fourth to ground lessor for any accrued, but unpaid, percentage rent, fifth to recognized mortgagee to the extent required by recognized mortgagee as a result of the less than substantially all taking, and sixth pursuant to Section 9.1(b)(1) of the ground lease. See exception to rep 34(k) below for casualty proceeds. The representation is also qualified by the fact that no mortgagee (recognized or otherwise) shall have the right to apply any insurance proceeds paid in connection with any casualty toward payment of its loan to the extent the ground lease requires that the ground lessee effect a “Casualty Restoration” with such proceeds. Schedule (1)(a)-10 ▇▇▇▇▇▇▇▇.▇.▇▇▇▇▇▇▇▇

Recognized Mortgagee means the Lending Institution secured by a Recognized Mortgage.

Recognized Mortgagee as defined in Section 13.01(d)(x).