Underlying Mortgages definition

Underlying Mortgages is defined in Section 18.1.
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Underlying Mortgages means the collective reference to the mortgages, deeds of trust and similar security agreements executed by Affiliate Partnerships covering real property owned by such Affiliate Partnership to secure the Underlying Note executed by such Affiliate Partnership.
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Underlying Mortgages means Mortgages securing Underlying Loans.
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Examples of Underlying Mortgages in a sentence

  • PROGRAM ELIGIBILITY – Underlying Mortgages The P2P Program permits only the Federal Home Loan Mortgage Corporation (FHLMC), also known as Freddie Mac HFA Advantage Loans (HFA Advantage is a variance of the FHLMC Home Ready formerly, Home Possible Mortgage product), at a maximum LTV of 95.0%.

  • Each holder of each Underlying Mortgage shall have the right, exercisable at such holders' sole option at any time, to cause any of the Underlying Mortgages which such holder owns to be and become subordinate and inferior to the lien and charge of this Lease by delivering Notice of such exercise to Tenant.

  • This Lease is subject and subordinate to all mortgages, trust deeds, and ground and underlying leases (the “Underlying Mortgages”) which now exist or may hereafter be executed affecting the Building Property and to all renewals, modifications, consolidations, replacements and extensions of any such Underlying Mortgages.

  • This Lease is subject and subordinate to all mortgages, trust deeds, and ground and underlying leases (the “Underlying Mortgages”) which now exist or may hereafter be executed affecting the Land, Project and/or the Building and to all renewals, modifications, consolidations, replacements and extensions of any such Underlying Mortgages.

  • This Lease is subject and subordinate to all mortgages, trust deeds, ground leases, or other encumbrances (the "UNDERLYING MORTGAGES") which may now or hereafter be executed affecting the Building and to all renewals, modifications, consolidations, replacements and extensions of any such Underlying Mortgages.

  • Landlord represents and warrants to Tenant that as of the date of execution and delivery of this Lease, there are no Underlying Mortgages now affecting the Land, Project and/or the Building which are superior to this Lease.

  • The discussion was moderated by Rick Davis, Associate Dean, College of the Visual and Performing Arts, and Artistic Director, Center for the Arts and Theater of the First Amendment.The Arena Stage Exhibit will be on display on the second floor of Fenwick Library until the end of January.

  • Landlord expressly covenants and agrees that as of the Commencement Date of the Term of this Lease, it will be the owner of the fee simple title to the Land and Building and other improvements subject to the Permitted Exceptions and to the Underlying Mortgages and documents related thereto, if any, and subject to any liens, encumbrances or restrictions arising from or existing, prior or during Tenant’s previous ownership of the Leased Premises.

  • Cendant acknowledges and agrees that it performs, on behalf of MLCC, Origination Services with respect to Underlying Mortgages pursuant to and in accordance with the terms of the Origination Agreement.

  • This Lease is subject and subordinate to all mortgages, trust deeds, ground leases, or other encumbrances (the “Underlying Mortgages”) which may now or hereafter be executed affecting the Project and/or the Building and to all renewals, modifications, consolidations, replacements and extensions of any such Underlying Mortgages.


More Definitions of Underlying Mortgages

Underlying Mortgages means collectively, the mortgages or deeds of trust granted by any Person to or for the benefit of the Issuer or any Subsidiary securing an Underlying Promissory Note or other obligation of such Person, as the same may have been or hereafter may be amended, modified or supplemented.
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Related to Underlying Mortgages

  • Underlying Mortgaged Property With respect to each Co-op Loan, the underlying real property owned by the related residential cooperative housing corporation.

  • Existing Mortgages means any mortgage, deed of trust or deed delivered pursuant to the Existing Credit Agreement including any amendments, modifications, restatements or assignments thereof.

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

  • Mortgage Notes means, collectively, the promissory notes aggregating $310,000,000 principal amount issued pursuant to the Mortgage Note Agreements, dated December 12, 1991 and executed by the Operating Partnership, together with and any loan agreement and security documents executed in connection therewith, any and all instruments given in renewal, extension, modification, or rearrangement of or in substitution or replacement for any one or more of the foregoing described promissory notes and other documents, whether given to the original purchaser thereof (or its designee) or any other Person and other documents.

  • Reverse mortgage means a nonrecourse loan under which both of the following apply:

  • Blanket Mortgage The mortgage or mortgages encumbering a Cooperative Property.

  • Underlying Note means the one or more promissory notes executed by an obligor evidencing a Loan.

  • Mortgages means, individually and collectively, one or more mortgages, deeds of trust, or deeds to secure debt, executed and delivered by Borrower or its Subsidiaries in favor of Agent, in form and substance reasonably satisfactory to Agent, that encumber the Real Property Collateral.

  • Conforming Mortgage Loan means a first lien Mortgage Loan originated in accordance with the criteria of an Agency for purchase of Mortgage Loans, including, without limitation, conventional Mortgage Loans, as determined by Buyer in its sole discretion.

  • Refinancing Mortgage Loan Any Mortgage Loan originated in connection with the refinancing of an existing mortgage loan.

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

  • Mortgage Note The original executed note or other evidence of indebtedness evidencing the indebtedness of a Mortgagor under a Mortgage Loan.

  • Performing Mortgage Loan Any Mortgage Loan or Serviced Pari Passu Companion Loan that is not a Specially Serviced Mortgage Loan.

  • ARM Mortgage Loan A Mortgage Loan pursuant to which the interest rate shall be adjusted from time to time in accordance with the related Mortgage Note.

  • Underlying Collateral means, with respect to a Loan Asset, any property or other assets designated and pledged or mortgaged as collateral to secure repayment of such Loan Asset, as applicable, including, without limitation, mortgaged property and/or a pledge of the stock, membership or other ownership interests in the related Obligor and all proceeds from any sale or other disposition of such property or other assets.

  • First Mortgage means a Mortgage that constitutes a first Lien on the real property and improvements described in or covered by that Mortgage.

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

  • Pledged Asset Mortgage Loan A Mortgage Loan as to which, at the time of origination, a Letter of Credit was issued in favor of the initial holder of such Mortgage Loan.

  • Additional Mortgaged Property has the meaning assigned to that term in subsection 6.9.

  • Ship Mortgage means a Ship Mortgage or Additional Ship Mortgage substantially in the form of Exhibit E-2 to the 2008 Credit Agreement (with such changes as are reasonably consented to by the Collateral Agent to account for local law matters) made by the applicable Loan Party in favor of Collateral Agent for the benefit of the Secured Parties, as the same may be amended, supplemented or otherwise modified from time to time, together with an Earnings Assignment and an Insurance Assignment made by the applicable Loan Party for each Mortgaged Vessel, and such other agreements reasonably acceptable to Collateral Agent as shall be necessary to comply with applicable requirements of law and effective to grant in favor of Collateral Agent for the benefit of the Secured Parties a first preferred mortgage within the meaning of the Ship Mortgage Act on the Mortgaged Vessel covered thereby, subject only to Permitted Liens.

  • Lost Mortgage Note Any Mortgage Note the original of which was permanently lost or destroyed and has not been replaced.

  • Outstanding Mortgage Loan As of any Due Date, a Mortgage Loan with a Stated Principal Balance greater than zero which was not the subject of a Principal Prepayment in Full prior to such Due Date and which did not become a Liquidated Mortgage Loan prior to such Due Date.

  • MERS Mortgage Loan Any Mortgage Loan registered with MERS on the MERS System.

  • Pool 1 Mortgage Loans Any Mortgage Loan in Pool 1.

  • Purchase Money Mortgage means a mortgage secured by a first lien or junior lien taken or retained by the seller of real property to secure all or part of the purchase price of the property.

  • PMI Mortgage Loans The list of Mortgage Loans insured by the PMI Insurer attached hereto as Schedule II.