Substitute Mortgage definition

Substitute Mortgage means a mortgage indenture of the Company, other than the Mortgage, designated by the Company to the Trustee as a Substitute Mortgage pursuant to Section 4.03 hereof. The lien of the Substitute Mortgage shall have such priority, and be with respect to such property, as shall be specified by the Company in its sole discretion.

Substitute Mortgage means a mortgage indenture of the Company, other than the Mortgage, designated by the Company to the Trustee as a Substitute Mortgage pursuant to Section 4.03 hereof. The lien of the Substitute Mortgage shall have such priority, and be with respect to such property, as shall be specified by the Company in its sole discretion, subject to the provisions of Section 4.03 hereof.

Substitute Mortgage has the meaning set forth in the definition of “Substitute Loan Documents.”

Examples of Substitute Mortgage in a sentence

• Monthly Payments due with respect to Qualified Substitute Mortgage Loans in the month of substitution shall not be part of the Trust Fund and will be retained by the Master Servicer and remitted by the Master Servicer to Residential Funding on the next succeeding Distribution Date.

• The Company shall deposit in the Custodial Account the Monthly Payment less the Servicing Fee due on such Qualified Substitute Mortgage Loan or Loans in the month following the date of such substitution.

• The Company shall effect such substitution by delivering to the Custodian for such Qualified Substitute Mortgage Loan the documents required by Section 2.03, with the Mortgage Note endorsed as required by Section 2.03.

• In connection with any such substitution, the Company shall be deemed to have made as to such Qualified Substitute Mortgage Loan the representations and warranties set forth in this Agreement except that all such representations and warranties set forth in this Agreement shall be deemed made as of the date of such substitution.

• Monthly Payments due with respect to Qualified Substitute Mortgage Loans in the month of substitution shall be retained by the Company.

More Definitions of Substitute Mortgage

Substitute Mortgage is defined in Section 24.

Substitute Mortgage means a mortgage or deed of trust made by Borrower in ------------------- favor of Lender, securing the Loan, encumbering Substitute Property, substantially identical in form and substance to this Mortgage, with such modifications as Lender shall determine are necessary to conform such document to the laws of the State or Commonwealth in which the Substitute Property is situated.

Substitute Mortgage has the meaning given to such term in Section 4.4 hereof.

Substitute Mortgage means, in relation to:

Substitute Mortgage means a first priority Cyprus statutory mortgage and deed of covenant collateral thereto required to be executed by Cronus in respect of Vessel A, in such form as the Agent may require in its sole discretion; Words and expressions advised in the Schedule to this Agreement shall have the meanings given to them therein as if set out in full in this Clause 1.2.

Substitute Mortgage is defined in Section 24. (nn) WAREHOUSE FACILITY. The facility described in Section 1 as it may be amended, supplemented, modified or replaced is referred to as the "WAREHOUSE FACILITY."

Substitute Mortgage is defined in Section 3.7.