MORTGAGE COLLATERAL Sample Clauses

MORTGAGE COLLATERAL. The Borrower acknowledges that the Bank is permitting it to retain in its possession all Specific and Blanket Mortgage Collateral (together or separately the “Mortgage Collateral”) for purposes of servicing, collection and foreclosure, and the Borrower acknowledges that the Borrower will hold such Mortgage Collateral, and all proceeds and payments therefrom, in trust as the Bank’s security and for the benefit and subject to the direction and control of the Bank, and upon the following additional terms and conditions:
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MORTGAGE COLLATERAL. Within fifteen (15) days after the date hereof the Borrower will provide to the Administrative Agent the BBA Proposal Package for each Borrowing Base Property and evidence of flood insurance for any Borrowing Base Property that is a Flood Hazard Property. The Borrower will also promptly provide to the Administrative Agent, and in any event not later than fifteen (15) days after the date on which the same shall be requested in writing to the Borrower from the Administrative Agent or a Lender, such other information reasonably requested by a Lender to complete its flood review and approval process. Promptly and in any event within sixty (60) days after the date hereof (subject to extension by the Administrative Agent in its sole discretion and without the need for approval from the Requisite Lenders) (the “Mortgage Recording Deadline”), the Borrower will (a) cause those Subsidiary Guarantors holding fee and leasehold interests in the Borrowing Base Properties described on Schedule BBP hereto (the “Initial Mortgaged Properties”) to provide to the Administrative Agent, for each Borrowing Base Property, those items required by the definition of Mortgage Collateral Deliverables (other than Appraisals, which shall be delivered within one hundred and twenty (120) days after the date hereof (subject to extension by the Administrative Agent and the PNC Agent in their sole discretion) and shall not be a condition to the recording of the applicable Mortgage), and Sections 9(g) and (i) hereof, and (b) provide to the Administrative Agent reasonably satisfactory evidence of the payment in full of any and all title insurance premiums, title company service charges, record and lien search charges, filing fees and charges, mortgage recording taxes and intangible taxes incurred in connection with the issuance of the Mortgage Policies, Collateral diligence and the recordation of the Mortgages and Assignments of Leases on the Initial Mortgaged Properties. To the extent that after the Amendment Effective Date and prior to the Mortgage Recording Deadline, (i) any of the Initial Mortgaged Properties fails to satisfy the Borrowing Base Conditions or (ii) the Borrower is unable to deliver the Mortgage Collateral Deliverables for any of the Initial Mortgaged Properties, then the Borrower and the Administrative Agent and the PNC Agent shall agree to substitute one or more different Properties in place of such affected Properties and release the Liens on the affected Properties in acc...
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MORTGAGE COLLATERAL. (a) Except to the extent that FHLBank directs otherwise, Borrower and each Pledging Affiliate that has granted a security interest in Mortgage Collateral may retain possession of the same for purposes of servicing, collecting, and enforcing such Mortgage Collateral. Borrower and each Pledging Affiliate shall hold such Mortgage Collateral and the proceeds of and collections from such Mortgage Collateral in trust for FHLBank’s security and benefit. Borrower shall, and shall cause each Pledging Affiliate to, comply with all directions that FHLBank gives pursuant to this Blanket Agreement. Except to the extent that FHLBank directs otherwise or this Blanket Agreement otherwise provides, Borrower and each Pledging Affiliate that has granted a security interest in Mortgage Collateral may in the ordinary course of its business (i) retain all collections from Mortgage Collateral, (ii) release mortgages included in Mortgage Collateral, (iii) retain all collections from Mortgage Collateral, and act to collect delinquent payments due under Mortgage Collateral, including exercising the remedy of foreclosure. Neither Borrower nor any Pledging Affiliate need disclose the interest of FHLBank in such Mortgage Collateral while so acting.
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MORTGAGE COLLATERAL. Shall include (i) loans or participations therein secured by mortgages, deeds of trust or similar liens on residential or commercial properties; (ii) loans or participations therein secured by security interests in or similar liens on shares issued by cooperative housing corporations and the related proprietary leases or occupancy agreements; (iii) conditional sales contracts or installment sales or loan agreements or participations therein secured by manufactured housing or other residential or commercial properties; (iv) mortgage loans, certificates or other securities guaranteed by the Government National Mortgage Association; (v) mortgage loans, certificates or other securities issued or guaranteed by the Federal National Mortgage Association; (vi) mortgage loans, certificates or other securities issued or guaranteed by the Federal Home Loan Mortgage Corporation; (vii) mortgage pass-through certificates, collateralized mortgage obligations or other types of mortgage-related securities issued by any person or entity; and (viii) similar assets;
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MORTGAGE COLLATERAL. Under no circumstances shall the Bank be obligated to assume, perform or fulfill any obligation of the Institution as a lender or otherwise.
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MORTGAGE COLLATERAL. (a) Except to the extent that FHLBank directs otherwise, Borrower and each Pledging Affiliate that has granted a security interest in Mortgage Collateral may retain possession of the same for purposes of servicing, collecting, and enforcing such Mortgage Collateral. Borrower and each Pledging Affiliate shall hold such Mortgage Collateral and the proceeds of and collections from such Mortgage Collateral in trust for FHLBank’s security and
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MORTGAGE COLLATERAL. (1) Except as set forth on Schedule 4.23(g)(1): (A) no part of any Mortgage Collateral securing an Owned Mortgage Loan has been condemned; (B) there is no Proceeding pending or, to the knowledge of the Borrower, threatened against or affecting any Borrower or any of the Mortgage Collateral securing an Owned Mortgage Loan that, if determined adversely to such Borrower or Mortgage Collateral, would reasonably be expected to adversely affect the value of such Mortgage Collateral; and (C) there is no casualty affecting any portion of the Mortgage Collateral securing an Owned Mortgage Loan.
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Related to MORTGAGE COLLATERAL

  • Real Estate Collateral The Obligations shall be secured by Mortgages upon (x) all Real Estate owned by Obligors described on Schedule 7.3 and (y) all leasehold interests in Real Estate described on Schedule 7.3. The Agent may amend Schedule 7.3 from time to time to reflect thereon any Real Estate that constitutes Eligible Real Estate. The Mortgages shall be duly recorded, at Borrowers’ expense, in each office where such recording is required to constitute a fully perfected Lien on the Real Estate covered thereby. If any Obligor acquires (or otherwise desires to mortgage) any fee or leasehold interest in any Real Estate after the Fifth Amendment Closing Date, the Borrower Agent shall within ten (10) Business Days furnish to Agent a description of any such Real Estate in detail satisfactory to Agent and, upon written request of Agent (or the at the election of the Borrower Agent), the applicable Obligor shall forthwith (but in any event within sixty (60) days), (i), execute, deliver and record a Mortgage sufficient to create a first priority perfected Lien (or, where such Real Estate is subject to Permitted Purchase Money Debt and the documents evidencing such Debt permit Agent to hold a lien junior in priority on such Real Estate, a Lien junior in priority) in favor of Agent on such Real Estate and (ii) deliver all Related Real Estate Documents. Notwithstanding anything to the contrary in this Section 7.3, the Agent agrees that it shall not request that any Obligor mortgage to the Agent any Real Estate (i) encumbered by Permitted Purchase Money Debt, the terms of which expressly prohibit a Lien junior in priority on such Real Estate or (ii) having a value of less than (x) $5,000,000, individually or (y) $25,000,000, in the aggregate for all such Real Estate; provided that, for the avoidance doubt, the foregoing restriction shall not obligate the Agent to release any Lien on Real Estate or other Collateral in existence on the Fourth Amendment Closing Date. The Agent may amend Schedule 7.3 from time to time to reflect thereon any Real Estate that constitutes EligibleNotwithstanding anything in this Loan Agreement (including this Section 7.3) or any other Loan Document to the contrary, no Obligor shall deliver, execute or record any Mortgage pursuant to this Section 7.3 until the Agent and each Tranche A Lender shall have confirmed (such confirmation not to be unreasonably withheld, conditioned or delayed) that it has completed its flood insurance due diligence and flood insurance compliance with respect to such Real Estate.

  • Mortgaged Property The real property securing repayment of the debt evidenced by a Mortgage Note.

  • Other Mortgage Liens None of the Mortgage Loans permits the related Mortgaged Property to be encumbered by any mortgage lien junior to or of equal priority with the lien of the related Mortgage without the prior written consent of the holder thereof or the satisfaction of debt service coverage or other underwriting criteria specified therein. To the Mortgage Loan Seller's knowledge, except for cases involving Cross-Collateralized Mortgage Loans, none of the Mortgaged Properties securing the Mortgage Loans is encumbered by any mortgage liens junior to or of equal priority with the liens of the related Mortgage. Each of the related Mortgage Loan Documents requires the Borrower to pay all reasonable costs and expenses related to obtaining consent to an encumbrance.

  • The Mortgage Pool The Series ____-__ Certificates shall evidence the entire beneficial ownership interest in a mortgage pool (the "Mortgage Pool") of conventional, fixed rate, fully amortizing one- to four-family residential mortgage loans (the "Mortgage Loans") having the following characteristics as of ________ __, ____ (the "Cut-off Date"):

  • 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.

  • Collateral The Collateral for this Note includes the Funding Agreement and the Guarantee specified on the face hereof.

  • Mortgaged Properties No Loan Party that is an owner of Mortgaged Property shall take any action that is reasonably likely to be the basis for termination, revocation or denial of any insurance coverage required to be maintained under such Loan Party’s respective Mortgage or that could be the basis for a defense to any claim under any Insurance Policy maintained in respect of the Premises, and each Loan Party shall otherwise comply in all material respects with all Insurance Requirements in respect of the Premises; provided, however, that each Loan Party may, at its own expense and after written notice to the Administrative Agent, (i) contest the applicability or enforceability of any such Insurance Requirements by appropriate legal proceedings, the prosecution of which does not constitute a basis for cancellation or revocation of any insurance coverage required under this Section 5.04 or (ii) cause the Insurance Policy containing any such Insurance Requirement to be replaced by a new policy complying with the provisions of this Section 5.04.

  • Cap Collateral Reserved.

  • Entry on Mortgaged Property Enter the Mortgaged Property and take exclusive possession thereof and of all books, records and accounts relating thereto or located thereon. If Mortgagor remains in possession of the Mortgaged Property following the occurrence and during the continuance of an Event of Default and without Mortgagee’s prior written consent, Mortgagee may invoke any legal remedies to dispossess Mortgagor.

  • Conveyance of Mortgage Pool Assets; Security Interest Concurrently with the execution and delivery hereof, the Company does hereby irrevocably sell, transfer, assign, set over and otherwise convey to the Trust, without recourse, all the Company's right, title and interest in and to the Mortgage Pool Assets, including but not limited to all scheduled payments of principal and interest due after the Cut-Off Date and received by the Company with respect to the Mortgage Loans at any time, and all Principal Prepayments received by the Company after the Cut-Off Date with respect to the Mortgage Loans (such transfer and assignment by the Company to be referred to herein as the "Conveyance," and the assets so transferred and assigned to be referred to herein as the "Conveyed Assets"). It is the express intent of the parties hereto that the Conveyance of the Conveyed Assets to the Trust by the Company as provided in this Section 2.04 be, and be construed as, an absolute sale of the Conveyed Assets. It is, further, not the intention of the parties that such Conveyance be deemed the grant of a security interest in the Conveyed Assets by the Company to the Trust to secure a debt or other obligation of the Company. However, in the event that, notwithstanding the intent of the parties, the Conveyed Assets are held to be the property of the Company, or if for any other reason this Agreement is held or deemed to create a security interest in the Conveyed Assets, then

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