RUS Mortgage definition

RUS Mortgage means the mortgage and security agreement, as from time to time supplemented, amended and re- stated, made by and among the bor- rower, RUS, and, if a party thereto, third party lenders, or any other form of mortgage or security instrument or indenture of mortgage and deed of trust, securing the payment of out- standing loans made or guaranteed by RUS and other lenders. RUS holesale po er contract means the contract for the wholesale sale of electric power and energy between a power supply borrower and its member as approved by RUS. Secured loans shall mean outstanding loans secured pursuant to the RUS mortgage. State regulatory authority means any state board or local governing body having jurisdiction under state law to regulate, or in any way, approve the electric rates charged by a power sup- ply borrower or electric distribution member of a power supply borrower.
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RUS Mortgage means the mortgage identified on Schedule 1 as it may be amended, supplemented and restated from time to time.
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RUS Mortgage means collectively those mortgages and security agree- ments made by and among the bor- rower, the Government, and third par- ties, if any, securing indebtedness evi- dencing electric loans or loan guaran- tees made pursuant to the RE Act. Rural development loans means loans or grants made pursuant to Rural de- velopment programs. Rural development programs means loan or grant programs under the au- thority of the Administrator pursuant to sections 313, 501, and 502 of the RE Act.
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Examples of RUS Mortgage in a sentence

  • Except as expressly provided in this subpart, the borrower shall comply with all provisions of its RUS loan con- tract, its outstanding notes issued to RUS, and the RUS mortgage.

  • Nothing in this subpart shall af- fect any rights of supplemental lenders under the RUS mortgage or the rights of any other creditors of the borrower.

  • Such exclusions must have been based on the RUS mortgage, RUS loan contract, regulations, bulletins, memoranda, or other written notice from RUS.

  • RUS requires, as a condition to making or guaran- teeing any loans to power supply bor- rowers, that the borrower enter into RUS wholesale power contracts with its several members and assign and pledge such contracts as security for the repayment of loans made or guar- anteed by RUS and for other loans which, pursuant to the RE Act, RUS has permitted to be secured pursuant to the RUS mortgage.

  • If the borrower has a power supply contract with a power supply borrower, the power supply borrower is current on all debt payments and all other fi- nancial obligations, and is not in de- fault under the RUS mortgage, the loan contract, any debt restructuring agreement, or any other agreement with RUS.

  • RUS will not include qualified in- vestments, including qualified invest- ments in affiliated companies, in calcu- lating the amount of dividend or cap- ital distributions a borrower may make under its RUS mortgage.

  • The RUS mortgage secures repayment of the loans made or guaranteed by RUS and other loans which, pursuant to the RE Act, RUS has permitted to be secured pursuant to the RUS mortgage.

  • The RUS wholesale power contract provides that no final revision in rates shall be effec- tive unless approved in writing by the Administrator.(c) Pursuant to the terms of the RUS mortgage, each power supply borrower must design its rates as therein set forth and must give 90 days prior no- tice to RUS of any proposed change in its general rate structure.(Approved by the Office of Management and Budget under control number 0572–0089) § 1717.304 State regulatory authority rate jurisdiction.

  • Future revisions of the RUS mortgage may result in other ‘‘standard’’ types of lien accommodations and lien subor- dinations acceptable to RUS.

  • RUS reserves the right to change the provisions of the RUS mortgage and loan contract relating to RUS ap- proval of investments, loans and guar- antees made by the borrower, on a case-by-case basis, in connection with providing additional financial assist- ance to a borrower after October 23, 1995.


More Definitions of RUS Mortgage

RUS Mortgage means the Restated Mortgage and Security Agreement, dated as of March 1, 2002, by and between the Debtor and the United States of America, as it may have been supplemented, amended, consolidated or restated from time to time.
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Related to RUS Mortgage

  • MERS Mortgage Loan Any Mortgage Loan registered with MERS on the MERS System.

  • Mortgage shall have the meaning assigned to such term in the recitals.

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

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

  • Non-MERS Mortgage Loan Any Mortgage Loan other than a MERS Mortgage Loan.

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

  • 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.

  • Second Lien Mortgage Loan A Mortgage Loan secured by a second lien Mortgage on the related Mortgaged Property.

  • Facility Mortgage As defined in Section 13.1.

  • 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.

  • 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.

  • Wet-Ink Mortgage Loan means a Mortgage Loan which any Seller is selling to Buyer simultaneously with the origination thereof and for which the Mortgage Loan Documents have not been delivered to the Custodian.

  • Jumbo Mortgage Loan is a collective reference to Jumbo Mortgage Loans (Standard Limit) and Jumbo Mortgage Loans (Specialty).

  • PMI Mortgage Loans The list of Mortgage Loans insured by the PMI Insurer attached hereto as Schedule II.

  • 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.

  • Premium Mortgage Loan Any Group 1 Premium Mortgage Loan or Group 2 Premium Mortgage Loan.

  • ARM Mortgage Loan A Mortgage Loan pursuant to which the interest rate shall be adjusted from time to time in accordance with the related Mortgage Note.

  • Group 2 Mortgage Loan Each Mortgage Loan listed on Exhibit D-2 hereto.

  • REO Mortgage Loan Any Mortgage Loan which is not a Liquidated Loan and as to which the indebtedness evidenced by the related Mortgage Note is discharged and the related Mortgaged Property is held as part of the Trust Estate.

  • First Lien Mortgage Loan A Mortgage Loan secured by a first lien Mortgage on the related Mortgaged Property.

  • EMC Mortgage Loans Those Mortgage Loans serviced by the Company pursuant to the terms of this Agreement.