Subordinated Mortgage definition

Subordinated Mortgage means the Subordinated Spare Parts Mortgage and Security Agreement in substantially the form of Exhibit A-2 to this Agreement entered into by the Borrower and the Security Trustee to secure the obligations of the Borrower under the Payment and Indemnity Agreement.

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Subordinated Mortgage has the meaning given to that term in the Loan Agreement. APPENDIX A

Subordinated Mortgage means the Mortgage and Security Agreement and Fixture Financing Statement executed and delivered by the Borrower to the Subordinate Lender to secure the Subordinated Note and which is subordinate to the Loan Documents.

Examples of Subordinated Mortgage in a sentence

For the purposes of this Section 13.03, if there shall be more than one Senior Interest Holder, the provisions of this Section 13.03 shall be applicable only to the holder of the Superior Mortgage or the Subordinated Mortgage which constitutes the first mortgage lien on the Building.
The foregoing right of first offer shall not apply to assignments of the Holder's interest in this Note to another corporation, partnership, limited liability company, or other entity or individual which is majority owned by one or more of the partners or members of the original Holder, but as a condition to such assignment such new company shall agree in writing to be bound by all terms, conditions, and affirmative obligations of this Note and of the Subordinated Mortgage.
The mortgage Lien and security interest of the Subordinated Mortgage is and shall constitute a junior and subordinate mortgage Lien and/or security interest on or in the Premises and other Collateral described therein.
Contemporaneously with its receipt of such payment in full, Holder shall discharge the Subordinated Mortgage (as hereinafter defined) and release or terminate its interest in the Free Cash Flow, the Maker, and the Project.
The Subordinated Mortgage shall be in the form attached hereto as Schedule"F".

More Definitions of Subordinated Mortgage

Subordinated Mortgage means the Subordinated Deed to Secure Debt and Security Agreement (P1), dated as of December 30, 1996 from Oglethorpe, as grantor, to AMBAC and SunTrust Bank, Atlanta, as amended as of the date hereof.

Subordinated Mortgage means the Deed of Trust, Assignment, Security Agreement and Fixture Filing of even date herewith given by Borrower to Lender to secure the Subordinated Note and the Subordinated Obligations, as the same may from time to time be extended, amended, restated, supplemented or otherwise modified.

Subordinated Mortgage means the Mortgage granted by the Borrower to the collateral agent for the Initial Sub-debt Holders dated May17, 2013.

Subordinated Mortgage means the Mortgage granted by the Borrower to the Indenture Trustee dated September 18, 2013, as defined in the Subordinated Indenture.

Subordinated Mortgage means that the County is serving as a second lender in the pur- chase of your home. The County agrees that your primary lender will have their investment paid back first in the event that the home is sold or ownership is otherwise transferred. Quali- fied first-time homebuyers will be eligible to receive a subordinated mortgage up to a maxi- mum of $5,000 per home. The actual loan amount is limited to the figure necessary to fill the gap between the primary lender’s commitment and the amount the borrower is able to pay.

Subordinated Mortgage means the second preferred fleet mortgage to be granted by the Owner in favor of the Subordinated Lender securing the Owner’s obligation under the Subordinated Loan Agreement.

Subordinated Mortgage shall have the meaning set forth in Section 6.5.