Third Mortgage Loan definition

Third Mortgage Loan. A Mortgage Loan which constitutes a third priority mortgage lien with respect to the related Property.

AI-Powered Contracts

Draft, Review & Redline at the Speed of AI

Third Mortgage Loan. The term "Mortgage Loan" includes any Mortgage Loan which is Delinquent, which relates to a foreclosure or which relates to a Property which is REO Property prior to such Property's disposition by the Trust. Any mortgage loan which, although intended by the parties hereto to have been, and which purportedly was, transferred and assigned to the Trust by the Sponsor, in fact was not transferred and assigned to the Trust for any reason whatsoever shall nevertheless be considered a "Mortgage Loan" for all purposes of this Agreement. The term "Mortgage Loan" includes the term "Bulk Acquisition Loan".

Third Mortgage Loan. A Mortgage Loan which constitutes a third priority mortgage lien with respect to the related Property. Trustee: Bankers Trust Company of California, N.A., located on the date of execution of this Agreement at 3 Pa▇▇ ▇▇▇▇▇, ▇▇▇▇▇▇, ▇▇▇▇▇▇▇▇▇▇ ▇▇▇▇▇, ▇ national banking association, not in its individual capacity but solely as Trustee, and any successor hereunder.

Examples of Third Mortgage Loan in a sentence

In the event that any Mortgage Note is endorsed in blank as of the Closing Date, promptly following the Closing Date the applicable Seller shall cause to be completed such endorsements as follows: "Pay to the order of Bank One, National Association, as Trustee under the Pooling and Servicing Agreement, dated as of December 1, 1999, Fifth Third Mortgage Loan Trust 1999-1, without recourse." The Depositor herewith delivers to the Trustee an executed copy of the Mortgage Loan Purchase Agreement.
This Agreement, the Building Loan Agreement, the Third Mortgage Loan Agreement, the Note, the Mortgage, the Survey, the Title Insurance Policy, the Guarantees and all other instruments, certificates, legal opinions and documents executed and delivered by either or both of the Borrower, the Guarantor or the Administrative Agent in connection with the Loan, the Third Mortgage Loan and the Construction Loan.
The Trustee shall be responsible, from its fee, for all costs related to S&P’s annual surveillance fee of the Fifth Third Mortgage Loan Trust 2002-FTB1, Mortgage Pass-Through Certificates, Series 2002-FTB1 transaction.
Any such notice pursuant to this Section 12.08 shall be in writing and shall be deemed to have been duly given if personally delivered or mailed by first class mail, postage prepaid, or by express delivery service to ▇▇▇▇▇'▇ Investors Service, Inc., ▇▇ ▇▇▇▇▇▇ ▇▇▇▇▇▇, ▇▇▇ ▇▇▇▇, ▇▇ ▇▇▇▇▇, Attention: MBS Monitoring/Fifth Third Mortgage Loan Trust 1999-1; and Fitch IBCA, Inc., ▇▇▇ ▇▇▇▇▇ ▇▇▇▇▇▇ ▇▇▇▇▇, ▇▇▇ ▇▇▇▇, ▇▇ ▇▇▇▇▇.

More Definitions of Third Mortgage Loan

Third Mortgage Loan means a Mortgage Loan secured by a Third Mortgage.

Third Mortgage Loan. A Mortgage Loan secured by a third priority mortgage lien with respect to the related Property Trustee: Any party accepting the rights and obligations of Trustee in a Pooling and Servicing Agreement.

Third Mortgage Loan. ‎ means a Mortgage Loan that is secured by a Subordinate Mortgage that is in third lien position, subordinate (only) to a First Mortgage and a Second Mortgage, each of which is either owned by F▇▇▇▇▇ Mae or is a Purchased Mortgage Loan subject to an outstanding Transaction hereunder.

Third Mortgage Loan has the meaning ascribed to such term in Section 1.1(a) of the Disclosure Letter.

Third Mortgage Loan. (for use with USDA's Leveraged Loan only) means an obligat ion secu r ed by a Third Mortgage on r eal proper ty locat ed in the Stat e, including Down Payment Assistance Loans, third in priority only to a ▇▇▇▇ ▇▇▇▇ Loan and a USDA Leveraged Loan.

Third Mortgage Loan means a Mortgage Loan that is secured by a Subordinate Mortgage that is in third lien position, subordinate (only) to a First Mortgage and a Second Mortgage, each of which is either owned by Fannie Mae or is a Purchased Mortgage Loan subject to an outstanding Transaction hereunder.

Third Mortgage Loan. (for use with USDA's Leveraged Loan only) means an obligation secured by a Third Mortgage on real property located in the State, including Down Payment Assistance Loans, third in priority only to a Mortgage Loan and a USDA Leveraged Loan.