Second Lien Mortgage definition

Second Lien Mortgage means each mortgage, deed of trust and any other document or instrument under which any Lien on real property owned or leased by any Grantor is granted to secure any Second Lien Obligations or under which rights or remedies with respect to any such Liens are governed.

Second Lien Mortgage is a Mortgage that is secured by a second priority lien on the real property that secures it.

Second Lien Mortgage means any Second Lien Security Document granting a lien on any real property Collateral.

Examples of Second Lien Mortgage in a sentence

• In the event of any conflict between the terms of the Second Lien Intercreditor Agreement and this Agreement, the terms of the Second Lien Intercreditor Agreement shall govern and control.” In addition, the Company agrees that each Second Lien Mortgage, if any, covering any Collateral shall contain such other language as the Designated First Lien Collateral Agent may reasonably request to reflect the subordination of such Second Lien Mortgage to the First Lien Collateral Documents covering such Collateral.

• Where permitted by law and where the senior lienholder is required to notify a junior lienholder be named as a party defendant in foreclosure proceedings in order to foreclose such junior lienholder's equity of redemption, the Company shall, at the reasonable expense of the Purchaser, file (or cause to be filed) a request for notice of any action by a superior lienholder under a related senior lien for the protection of the Purchaser's interest in the related Second Lien Mortgage Loan.

• Each related Mortgage is a valid, subsisting and enforceable First Lien (with respect to a First Lien Mortgage Loan) or Second Lien (with respect to a Second Lien Mortgage Loan) on the related Mortgaged Property, including all improvements on the Mortgaged Property.

• MORTGAGOR: NAVITAS BUCKSKIN US, LLC By: Name: Title: WITNESSES: Sign: Print Name: Sign: Print Name: Notary Public Printed Name: My Commission expires: Notarial No. (if applicable): NOTARIAL SEAL: Signature Page to Second Lien Mortgage, Assignment of EXHIBIT A to SECOND LIEN MORTGAGE, ASSIGNMENT OF AS-EXTRACTED COLLATERAL AND SECURITY AGREEMENT Introduction The capitalized terms used but not defined in this Exhibit A are used as defined in the Mortgage.

• Either (a) no consent for the Second Lien Mortgage Loan is required by the holder of the related first lien or (b) such consent has been obtained and is contained in the Mortgage File.

More Definitions of Second Lien Mortgage

Second Lien Mortgage means the Second Lien Deed of Trust, Security Agreement, Assignment of Rents and Leases and Fixture Filing, dated as of the date hereof, from NW Spectrum Co., as Grantor, to the Second Lien Collateral Agent, as Beneficiary. After any refinancing, extension or replacement of any Indebtedness under the Second Lien Notes pursuant to the terms of the Intercreditor Agreement, the term “Second Lien Mortgage” shall mean any replacement deed of trust entered into in connection with such refinancing, extension or replacement.

Second Lien Mortgage means any replacement deed of trust entered into in connection with such refinancing, extension or replacement.

Second Lien Mortgage shall have the meaning ascribed to such term in the preliminary statement of this Agreement.

Second Lien Mortgage. A mortgage lien on a Mortgaged Property which is first in priority to any other mortgage liens on that Mortgaged Property except the lien of a First Lien Mortgage.

Second Lien Mortgage. A "SECOND LIEN MORTGAGE" is a Mortgage that is secured by a second priority lien on the real property that secures it.

Second Lien Mortgage means a mortgage made and acquired pursuant to the Second Lien Mortgage Product Manual that is in second lien position.

Second Lien Mortgage. A mortgage, deed of trust or other instrument, which creates a second priority lien on or ownership interest in the related Mortgaged Property securing the related Mortgage Note, including any rider incorporated therein by reference, which lien is subordinate only to any first mortgage loan secured by the related Mortgaged Property.