Senior Mortgage definition

Senior Mortgage has the meaning provided in the Recitals hereto.

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Senior Mortgage means a mortgage securing a Senior Note.

Senior Mortgage means the “Mortgage” as defined in the Senior Loan Agreement.

Examples of Senior Mortgage in a sentence

• If such a non-monetary Senior Mortgage Default creates an unacceptable level of risk relative to the Mortgaged Property, or Senior Mortgagee’s or Funding Lender’s secured position relative to the Mortgaged Property, as determined by Funding Lender in its sole discretion, then during such 90-day period Funding Lender may exercise all available rights and remedies to protect and preserve the Mortgaged Property and the Rents, revenues and other proceeds from the Mortgaged Property.

• Subordinate Mortgagee will not be subrogated to the rights of Senior Mortgagee or Funding Lender under the Senior Loan Documents by reason of Subordinate Mortgagee having cured any Senior Mortgage Default.

• Funding Lender will deliver to Subordinate Mortgagee in the manner required in Section 5(b) a copy of each Notice of a Senior Mortgage Default delivered to Borrower by Funding Lender.

• Subordinate Mortgagee will have the right, but not the obligation, to cure any monetary Senior Mortgage Default within 30 days following the date of such Notice; provided, however, that Funding Lender will be entitled during such 30-day period to continue to pursue its remedies under the Senior Loan Documents.

• Notwithstanding anything in this Section 5(b) to the contrary, Subordinate Mortgagee’s right to cure any Senior Mortgage Default will terminate immediately upon the occurrence of any Bankruptcy Proceeding.

More Definitions of Senior Mortgage

Senior Mortgage means the Mortgage, Security Agreement, Financing Statement And Assignment of Rents to be granted by the Mortgagor to the Senior Mortgagee as described above, together with any and all modifications, amendments, supplements, restatements or assignments thereof at any time made or entered into, including all Other Advances thereunder and the term "Senior Mortgagee" shall mean the Senior Mortgagee named herein, its successors and/or assigns.

Senior Mortgage means that certain Senior Deed of Trust, Security Agreement, Assignment of Leases and Rents and Fixture Filing dated as of even date herewith, executed pursuant to this Agreement by Borrower, as trustor, for the benefit of Collateral Agent, as beneficiary, securing the obligations of Borrower under the Senior Loan Documents, as the same may be Modified.

Senior Mortgage means that certain Sixth Amended and Restated Mortgage, Security Agreement and Assignment of Rents and Leases granted by the Borrower to the Senior Lender dated May 17, 2013, as the same may be amended, restated, or otherwise modified from time to time.

Senior Mortgage means that certain Open End Mortgage, Security Agreement, Assignment of Rents and Leases, and Fixture Filing given by the Owner, dated as of [ ], 2022 and filed in the Lake County Recorder’s office.

Senior Mortgage means the Security Instrument as defined in the Borrower Loan Agreement.

Senior Mortgage and “Senior Assignment”, as used in the Second Mortgage shall mean, respectively, the First Mortgage and the First Assignment, each as amended hereby and as such documents may from time to time be amended, modified or restated.

Senior Mortgage means the Engine Mortgage and Security Agreement dated as of the date hereof between the Obligor and WFB, as the security trustee thereunder, providing for the creation of a first priority security interest in the Collateral, as the same may from time to time be supplemented, amended or modified in accordance with its terms.