Term Mortgage definition

Term Mortgage means each mortgage, deed of trust, assignment of leases and rents or other security document that grants a Lien on any real property owned or leased by any Grantor to secure any Term Obligations.
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Term Mortgage means each mortgage, deed of trust and other document or instrument under which any Lien on real property owned or leased by any Grantor is granted to secure any Term Obligations or under which rights or remedies with respect to such Liens are governed.
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Term Mortgage means that certain Mortgage, Leasehold Mortgage, Security Agreement, Assignment of Rents and Leases, Financing Statement, Fixture Filing and As-Extracted Collateral Filing, from Mortgagor in favor of Mortgagee, of even date herewith, encumbering the Mortgaged Property and recorded in the Clerk’s Office of County, Kentucky.
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Examples of Term Mortgage in a sentence

  • Sellers shall cause HR to accept, or cause the acceptance of, prepayment of the Term Mortgage Loan and, as applicable, accept the prepayment, or complete the sale as contemplated herein, of the Emeritus Mortgage Loan irrespective of the failure of Purchaser to satisfy any applicable prepayment notice requirements, and to deliver a payoff letter to Purchaser at least three (3) Business Days prior to the Closing Date.

  • We further advise you that we will receive and promptly deliver to the Collateral Trustee a written confirmation from the Rating Agencies that the terms and conditions of the New Charter will not result in the withdrawal or reduction of their respective ratings on the Term Mortgage Notes.

  • The parties hereto agree and acknowledge that the Term Mortgage shall be deemed to be prior to this Mortgage, regardless of whether this Mortgage is recorded before the Term Mortgage.

  • During the Term, Mortgage Company shall ----------------------- administer and supervise all Subprime Business conducted at the Mortgage Company Offices to the extent consistent with applicable law and regulations.

  • Except for Permitted Liens and the Term Mortgage, Mortgagor shall preserve and protect the second lien and security interest status of this Mortgage against the Mortgaged Property.

  • Issuer has issued the Term Mortgage Notes (collectively, the "Notes").

  • Pursuant to section 7.09(a) of the CTA, the Term Indenture Trustee hereby notifies the Collateral Trustee that the Secured Obligations arising under or in connection with the Term Indenture and the Term Mortgage Notes issued thereunder have been paid or deemed paid in full and confirms that the Secured Obligations arising under or in connection with the Serial Indenture and the Serial Mortgage Notes issued thereunder have been paid or deemed paid in full.

  • The Borrower has on or about the date hereof entered into loan documents with Bank evidencing a Term Mortgage Loan in the principal sum of EIGHT MILLION DOLLARS ($8,000,000.00) (the “Loan”), made by Bank to Borrower pursuant to a certain Term Loan Note of even date herewith (the “Note”), and more particularly described in that certain Term Loan Agreement of even date herewith between Borrower and Bank (the “Loan Agreement”).

  • Mortgagee hereby agrees and acknowledges that notwithstanding the date or order of execution or recording of the mortgage granted to the Term Agent (the “Term Mortgage”) and this Mortgage, the lien of the Term Mortgage shall be and is superior to the lien of this Mortgage, and the lien of this Mortgage shall be and is subordinate and made junior in right, priority and operation and effect to the lien of the Term Mortgage, subject to the terms and provisions of the Intercreditor Agreement.

  • Exhibit G-2 to Agreement of Sale and Purchase Term Mortgage Loan Term Loan Note, dated May 1, 2003, executed by Emeritus Corporation in the principal amount of $600,000 and payable to HR Acquisition I Corporation, as amended, renewed, modified or extended.

Related to Term Mortgage

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

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

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

  • 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.