Rig Mortgages definition

Rig Mortgages means the First Preferred Rig Mortgages and the Preferred Rig Mortgages;
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Rig Mortgages means each of the First Preferred Mortgages (or other ship mortgage, fleet mortgage, naval mortgage or other agreement, document or instrument evidencing a grant of liens in a rig or vessel) executed by any Loan Party which pledges a Rig owned by such Person to the Collateral Agent for the benefit of the Secured Parties as collateral for all or a portion of the Obligations, in form and substance reasonably acceptable to the Facility Agent and as required to create an Acceptable Security Interest.
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Rig Mortgages means the collective reference to each mortgage or other security document or instrument, including any fleet mortgage, encumbering any Rig (and any related Property) now or hereafter owned by any Issuer or Guarantor and executed by such Issuer or Guarantor in favor of the Collateral Agent, for the ratable benefit of the Secured Parties, and in proper form for filing and recordation with the relevant registry or other appropriate maritime authority with which such Rig is registered, as any such document may be amended, restated, supplemented, or otherwise modified from time to time.
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Examples of Rig Mortgages in a sentence

  • Each of the Holders by acquiring the Securities is hereby deemed to have directed the Trustee to appoint the Collateral Agent as its mortgagee and security trustee to receive, hold, administer and enforce the Collateral Rig Mortgages covering the Collateral Rigs, as contemplated under this Indenture.

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  • The Borrower agrees that each action required above by this Section 9.09(c)(I) shall be completed contemporaneously with (or, except with respect to Collateral Rig Mortgages, within 30 days of) such Subsidiary becoming an Additional Subsidiary Guarantor.

  • Subject to the definition of “Collateral and Guaranty Requirements” and Section 8.04, no filings or recordings are required in order to perfect the security interests created under any Security Document, excluding the Collateral Rig Mortgages, except for filings or recordings which shall have been made on or prior to the Amendment and Restatement Effective Date.

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  • Each Lender hereby agrees, and each holder of any Note by the acceptance thereof will be deemed to agree, that, except as otherwise set forth herein, any action taken by the Required Lenders in accordance with the provisions of this Agreement or the Collateral Rig Mortgages, and the exercise by the Required Lenders of the powers set forth herein or therein, together with such other powers as are reasonably incidental thereto, shall be authorized and binding upon all of the Lenders.

  • The Collateral and Guaranty Requirements that are required to be satisfied upon and after the Zonda Mortgage Date pursuant to the definition of “Collateral and Guaranty Requirements”, including the due authorization, execution and delivery to the Collateral Agent of the Collateral Rig Mortgage(s) with respect to the Collateral Rig, shall have been satisfied, and each Credit Document required to be entered into pursuant to such definition shall be in full force and effect.

  • Each of the Lenders hereby irrevocably appoints the Administrative Agent as its trustee (for the purposes of the Rig Mortgages) and agent and authorizes the Administrative Agent to take such actions on its behalf and to exercise such powers as are delegated to the Administrative Agent by the terms hereof and the other Loan Documents, together with such actions and powers as are reasonably incidental thereto.

  • The Borrower agrees that each action required above by this Section 7.07(c)(1) shall be completed contemporaneously with (or, except with respect to Collateral Rig Mortgages, within 30 days of) such Subsidiary becoming an Additional Subsidiary Guarantor.


More Definitions of Rig Mortgages

Rig Mortgages means each of the First Preferred Fleet Mortgages (or other ship mortgage, fleet mortgage, naval mortgage or other agreement, document or instrument evidencing a grant of liens in a rig or vessel) executed by any Credit Party which pledges a rig or vessel owned by such Person to the Collateral Agent for the benefit of the Term Secured Parties as collateral for all or a portion of the Obligations, in substantially the form of the attached Exhibit H and as required to create an Acceptable Security Interest, in each case as the same may be amended, supplemented, restated or otherwise modified from time to time.
Sample 1
Rig Mortgages means each of the First Preferred Fleet Mortgages (or other ship mortgage, fleet mortgage, naval mortgage or other agreement, document or instrument evidencing a grant of liens in a rig or vessel) executed by any Credit Party which pledges a rig or vessel owned by such Person to the Collateral Agent for the benefit of the Finance Parties as collateral for all or a portion of the Obligations, in substantially the form of the attached Schedule 10 (Form of Rig Mortgage) and as required to create an Acceptable Security Interest, in each case as the same may be amended, supplemented, restated or otherwise modified from time to time.
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Rig Mortgages has the meaning specified in Section 8.01(c).
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Related to Rig Mortgages

  • Existing Mortgages means any mortgage, deed of trust or deed delivered pursuant to the Existing Credit Agreement including any amendments, modifications, restatements or assignments thereof.

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

  • Mortgages means, individually and collectively, one or more mortgages, deeds of trust, or deeds to secure debt, executed and delivered by Borrower or its Subsidiaries in favor of Agent, in form and substance reasonably satisfactory to Agent, that encumber the Real Property Collateral.

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

  • Ship Mortgage means a Ship Mortgage or Additional Ship Mortgage substantially in the form of Exhibit E-2 to the 2008 Credit Agreement (with such changes as are reasonably consented to by the Collateral Agent to account for local law matters) made by the applicable Loan Party in favor of Collateral Agent for the benefit of the Secured Parties, as the same may be amended, supplemented or otherwise modified from time to time, together with an Earnings Assignment and an Insurance Assignment made by the applicable Loan Party for each Mortgaged Vessel, and such other agreements reasonably acceptable to Collateral Agent as shall be necessary to comply with applicable requirements of law and effective to grant in favor of Collateral Agent for the benefit of the Secured Parties a first preferred mortgage within the meaning of the Ship Mortgage Act on the Mortgaged Vessel covered thereby, subject only to Permitted Liens.

  • Deeds of Trust means, collectively, (i) the Deeds of Trust, Assignments, Security Agreements and Financing Statements, (ii) the Mortgages, Assignments, Security Agreements and Financing Statements, and (iii) the Deeds to Secure Debt, Assignments, Security Agreements and Financing Statements from the Borrowers, constituting Liens on the Mortgaged Sites as Collateral for the Loan as the same have been, or may be, assigned, modified or amended from time to time.

  • Reverse mortgage means a nonrecourse loan under which both of the following apply:

  • Collateral Assignments means, collectively, the Assignment of the Development Agreement, and the Assignment of Management Agreement, the Assignment of the Right to Receive Tax Credits, Capital Contributions and Partnership Interests, each in form and substance satisfactory to the Significant Bondholder and the Financial Monitor and as each may be amended or supplemented from time to time with the prior written consent of the Significant Bondholder.

  • Mortgage Amendments as defined in Section 6.11(a).

  • Mortgage Instruments means such title reports, title insurance, opinions of counsel, surveys, appraisals and environmental reports as are requested by, and in form and substance reasonably acceptable to, the Administrative Agent from time to time.

  • Security Agreements means the U.S. Security Agreement and the Canadian Security Agreement.

  • Assignment of Mortgage An assignment of the Mortgage, notice of transfer or equivalent instrument in recordable form, sufficient under the laws of the jurisdiction wherein the related Mortgaged Property is located to reflect the sale of the Mortgage to the Purchaser.

  • 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.

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

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

  • Mortgage Assignment means an assignment of the Mortgage in recordable form, sufficient under the laws of the jurisdiction wherein the related Mortgaged Property is located to reflect the sale of the Mortgage.

  • Security Instruments means, collectively, (a) the Mortgages, (b) the Transfer Letters, (c) the Pledge Agreements, (d) the Security Agreements, (e) each other agreement, instrument or document executed at any time in connection with the Pledge Agreements, the Security Agreements, or the Mortgages, (f) each agreement, instrument or document executed in connection with the Cash Collateral Account; and (g) each other agreement, instrument or document executed at any time in connection with securing the Obligations.

  • Mortgage Amendment means an amendment to an Existing Mortgage or an amendment and restatement of an Existing Mortgage, in each case in form and substance reasonably acceptable to the Collateral Agent.

  • Aircraft Mortgage means each Aircraft and Engine mortgage and security agreement entered into by any Borrower in favor of the Agent evidencing the Liens in respect of such Aircraft Collateral that will secure the Obligations, in each case as amended, modified, restated, supplemented or replaced from time to time.

  • Assignment of Leases and Rents means the Assignment of Leases and Rents, executed by Borrower for the benefit of Lender, and pertaining to leases of space in the Project.

  • Additional Mortgage shall have the meaning assigned to such term in Section 5.10(c).

  • Closing Date Mortgaged Property as defined in Section 3.1(h).

  • Assignment of Leases With respect to any Mortgaged Property, any assignment of leases, rents and profits or similar agreement executed by the Mortgagor, assigning to the mortgagee all of the income, rents and profits derived from the ownership, operation, leasing or disposition of all or a portion of such Mortgaged Property, in the form which was duly executed, acknowledged and delivered, as amended, modified, renewed or extended through the date hereof and from time to time hereafter.

  • Collateral Assignment means, with respect to any Contracts, the original instrument of collateral assignment of such Contracts by the Company, as Seller, to the Collateral Agent, substantially in the form included in Exhibit A hereto.

  • FHA Mortgage Insurance means, mortgage insurance authorized under the National Housing Act, as amended from time to time, and provided by the FHA.

  • Security Agreement Collateral means all "Collateral" as defined in the Security Agreement.