Mortgage Sample Clauses

Mortgage. Lessee does hereby agree to make reasonable modifications of this Lease requested by any Mortgagee of record from time to time, provided such modifications are not substantial and do not increase any of the Rents or obligations of Lessee under this Lease or substantially modify any of the business elements of this Lease.

Mortgage. The mortgage, deed of trust or other instrument creating a first or second lien on an estate in fee simple or leasehold interest in real property securing a Mortgage Note.

Mortgage. The BORROWER hereby secures the loan and other obligations stipulated herein, by a first mortgage on real property (ies) and improvements now existing or which may thereafter exist thereon absolutely owned by the BORROWER, free from all liens and encumbrances of whatever nature, and which property is more particularly described herein and/or in a supplementary page list appended hereto, (hereinafter referred to as the “Mortgaged Property” irrespective of number). BORROWER is making this first mortgage in favor of ORIGINATING INSTITUTION and subsequently the NHMFC or its assignee/ transferee. The BORROWER further agrees and warrants: that the loan proceeds were utilized to acquire/construct the same property herein mortgaged. to maintain the integrity, quality and sufficiency of the Mortgaged Property at a level acceptable to or directed by the ORIGINATING INSTITUTION or its assignee/transferee; to allow the ORIGINATING INSTITUTION or its assignee/transferee to inspect the Mortgaged Property during reasonable hours to ascertain its condition or actual market value; to substitute the Mortgaged Property with new and/or provide additional collateral (s) if the ORIGINATING INSTITUTION or its assignee/transferee finds that the Mortgaged Property is lost, impaired or depreciated due to any cause whatsoever; to duly pay or discharge all taxes, assessments, and charges on the Mortgaged Property and submit to the ORIGINATING INSTITUTION or its assignee/transferee proof of such payment; not to subdivide, lease, sell, dispose, mortgage or encumber the Mortgaged Property without the prior written consent of the ORIGINATING INSITUTION or its assignee/transferee, nor commit any act which may impair directly or indirectly, the value of the said mortgaged property; and, to issue twenty-five (25) post-dated checks (PDCs) in favor of NHMFC to cover the monthly amortizations for the first twenty-four (24) months from take-out date and (in the 25th check, which may also be held to cover all penalties, surcharges and/or liabilities incurred) the remaining outstanding balances every two (2) years until the loan is fully paid. In the event the mortgaged property is sold, disposed of or otherwise transferred in whole or in part by the BORROWER, the BORROWER shall not be released from his liability but shall be liable jointly and severally with the transferee unless expressly released therefrom in writing under existing policy of the ORIGINATING INSTITUTION, the NHMFC or its transf...

Mortgage. The original Mortgage with evidence of recording thereon or, if such original Mortgage has not been returned to Countrywide on or prior to the Closing Date by the public recording office where such Mortgage has been delivered for recordation, a copy of such Mortgage certified by Countrywide to be a true and complete copy of the original Mortgage sent for recordation.

Mortgage. 3.01 In order to secure the Obligations, the Owner has granted, conveyed and mortgaged and does by these presents grant, convey and mortgage unto the Trustee, its successors and assigns, the whole of the Rig TO HAVE AND TO HOLD the same unto the Trustee, its successors and assigns forever upon the terms herein set forth for the enforcement of the Obligations. Provided only and the condition of these presents is such that if all of the Obligations secured by this Mortgage have terminated or have been performed in full as and when the same shall become due and payable in accordance with the terms of the Subsidiary Guaranty and this Mortgage and shall observe and comply with the covenants, terms and conditions contained in the Subsidiary Guaranty and this Mortgage expressed or implied to be performed, observed or complied with by and on the part of the Owner and its successors and assigns, all without delay or fraud and according to the true intent and meaning thereof, then these presents and the rights hereunder shall cease, determine and be void otherwise to be and remain in full force and effect and, in such event, the Trustee agrees to execute and record at the expense of the Owner, all such documents as the Owner may reasonably require to discharge this Mortgage. Notwithstanding anything to the contrary herein it is not intended that any provision of this Mortgage shall waive the preferred status of this Mortgage and that if any provision or part thereof herein shall be construed as waiving the preferred status of this Mortgage then such provision shall to such extent be void and of no effect. 3.02 The Owner shall remain liable to perform all the obligations assumed by it in relation to the Rig and none of the Secured Creditors shall be under any obligation of any kind whatsoever in respect thereof or be under any liability whatsoever in event of any failure by the Owner to perform its obligations in respect thereof.

Mortgage. With respect to a Mortgage Loan, a mortgage, deed of trust or other instrument encumbering a fee simple interest in real property securing a Mortgage Note.

Mortgage. The mortgage, deed of trust or other instrument securing a Mortgage Note, which creates a first lien on an unsubordinated estate in fee simple in real property securing the Mortgage Note.

Mortgage. Each applicable Borrower shall have executed and delivered to Lender the Mortgages and the Mortgages shall have been irrevocably delivered to an authorized title agent for the Title Insurer for recordation in the appropriate filing offices in the jurisdiction in which the applicable Individual Properties are located.

Mortgage immediately upon Delivery of a Ship, procure that the relevant Borrower shall execute, and procure the registration of, the Mortgage for such Ship under the laws and flag of the relevant Flag State.

Mortgage. The Administrative Agent shall have received counterparts of each Mortgage with respect to each Mortgaged Property, dated as of the date hereof, duly executed and delivered by the applicable Obligor, together with (a) evidence of the completion (or satisfactory arrangements for the completion) of all recordings and filings of each Mortgage with respect to each Mortgaged Property as may be necessary or, in the opinion of the Administrative Agent, desirable to create a valid, perfected first priority Lien against the properties purported to be covered thereby; (b) mortgagee's title insurance policies in favor of the Administrative Agent for the benefit of the Secured Parties in amounts and in form and substance and issued by insurers, satisfactory to the Administrative Agent, with respect to the property purported to be covered by each such Mortgage, insuring that title to such property is marketable and that the interests created by each such Mortgage constitute valid first Liens thereon free and clear of all defects and encumbrances other than as approved by the Administrative Agent, and if required by the Administrative Agent and if available, revolving credit endorsement, comprehensive endorsement, variable rate endorsement, access and utilities endorsements, mechanic's lien endorsement and such other endorsements as the Administrative Agent shall reasonably request and shall be accompanied by evidence of the payment in full of all premiums thereon; and (c) such other approvals, opinions, or documents as the Administrative Agent may request in form and substance reasonably satisfactory to the Administrative Agent including consents and estoppel agreements from landlords, in form and substance reasonably satisfactory to the Administrative Agent; provided, however, that the obligation to deliver such Mortgages shall not be a condition to the initial Credit Extension on the Closing Date, so long as the Obligors have used commercially reasonable efforts to deliver such Mortgages on the Closing Date and deliver such Mortgages within 60 days after the Closing Date (or such later date as the Administrative Agent may agree).