Mortgage Modifications Clause Samples
Mortgage Modifications. Within 60 days following the Effective Date, or at such later date as determined in the sole discretion of Collateral Agent, Company shall deliver or cause to be delivered the following:
(i) amendments to or modifications of each of the Existing Mortgages in form and substance reasonably satisfactory to Collateral Agent;
(ii) with respect to each amended or modified Mortgage, a date-down and modification endorsement to the policy or policies of title insurance insuring the Lien of such Mortgage, issued by a nationally recognized title insurance company insuring the Lien of each amended or modified Mortgage as a valid Lien on the Mortgaged Property described therein, free of any Liens other than Liens permitted pursuant to subsection 7.2, together with such endorsements, coinsurance and reinsurance as Collateral Agent may reasonably request having the effect of a valid, issued and binding title insurance policy, provided that no date-down or modification endorsement shall be required with respect to any amended or modified Mortgage covering any Mortgaged Property in the State of Texas or the State of New Mexico; and
(iii) with respect to each amended or modified Mortgage, a favorable written opinion (a) rendered by the relevant local counsel listed on Schedule 4.1E, (b) furnished to Administrative Agent, Collateral Agent and Lenders and (c) in form and substance reasonably acceptable to Collateral Agent. Notwithstanding anything herein to the contrary, Collateral Agent may, in its sole discretion, permit Company at its option to satisfy its obligations pursuant to this subsection 6.9D as to any Existing Mortgage by delivering or causing to be delivered to Collateral Agent a new fully executed and notarized Mortgage, in proper form for recording in all appropriate places in all applicable jurisdictions and encumbering the Existing Mortgaged Property previously encumbered by such Existing Mortgage to secure the Obligations with priority as to any other Lien on such Existing Mortgaged Property equal to or better than the priority of such Existing Mortgage as to such other Lien, together with such opinions, documents and title insurance as Collateral Agent may reasonably request.
Mortgage Modifications. By the date that is ninety (90) days after the Amendment No. 4 Effective Date, as such time period may be extended, by not more than additional thirty (30) days, in the Administrative Agent’s reasonable discretion, the applicable Loan Party shall deliver to the Administrative Agent, unless otherwise agreed by the Administrative Agent in its reasonable discretion, the following items: (i) such amendments to the Mortgages of such Loan Party to the extent reasonably necessary to effectuate the transactions contemplated hereby; (ii) with respect to any Mortgage that is amended pursuant to the this paragraph, mortgage modification or bring-down endorsements to the applicable Mortgage Policies, to the extent such endorsements are reasonably available in the applicable jurisdiction; and (iii) such other documentation reasonably requested by the Administrative Agent in connection therewith (including the delivery of local counsel opinions solely with respect to enforceability of any such amendments) to give effect to the transactions contemplated by this Amendment, in each case, in form and substance reasonably satisfactory to the Administrative Agent.
Mortgage Modifications. If the Holder of any mortgage obtained by the Redeveloper under this Agreement reasonably requires any changes or modifications to the terms of this Agreement, the Borough shall reasonably cooperate with the Holder of any such mortgage(s).
Mortgage Modifications. The applicable Borrower or Guarantor which owns the real property described on Schedule A appended hereto shall execute and deliver to Agent, on or before sixty (60) days following the Amendment No. 2 Effective Date (or such later date as Agent shall agree in writing), in form and substance reasonably satisfactory to Agent, a Modification with respect to the Mortgage covering such real property, duly authorized, executed and delivered by such Borrower or Guarantor, together with an appropriate endorsement with respect to the existing mortgagee title insurance policy insuring Agent's interest in each such Mortgage, as a result of the recordation of each such Mortgage Modification.
Mortgage Modifications. To the extent required by the Administrative Agent, the Borrower shall have executed and delivered updated Mortgage Modifications, in form and substance reasonably satisfactory to the Administrative Agent, reflecting changes necessitated by the execution of this Agreement as an amendment to the Mortgage Instruments.
Mortgage Modifications. The Borrower shall have executed and delivered to the Agent such modifications to the Mortgages as are reasonably required by the Agent.
Mortgage Modifications. Within ninety (90) days after the Second Incremental Amendment Effective Date (or such longer period, as approved in the sole discretion of the Administrative Agent), the Borrower shall execute and deliver, or cause its applicable Subsidiaries to execute and deliver, appropriate modifications or amendments (if any) to the Mortgages, as reasonably requested by the Administrative Agent, together with all related filings, payment of costs and fees, and other actions as required by the Credit Agreement relating to the Mortgages.
Mortgage Modifications. The Agent shall have received from the Borrower, where necessary or appropriate in the reasonable judgment of the Agent upon advice of counsel, duly executed modifications of the Mortgage Instruments. The Mortgage Instruments shall be modified to reflect the increase in the Revolving Committed Amount effected by this Agreement. The Agent, the Trustee and the Borrower may provide in such modifications of the Mortgage Instruments for the prospect of future increases in the Revolving Committed Amount, but any such future increases shall, in each instance, be subject to the specific approval by each of the Banks.
Mortgage Modifications. To the extent reasonably determined to be necessary by the Administrative Agent, each of the following items:
(i) fully executed and notarized mortgage modifications (each, a “Mortgage Modification”), in proper form for recording in all appropriate places in all applicable jurisdictions, encumbering each Mortgaged Property;
(ii) an opinion of counsel (which counsel shall be reasonably satisfactory to Collateral Agent) in each state in which a Mortgaged Property is located with respect to the enforceability of the form(s) of Mortgage Modifications to be recorded in such state with respect to such Mortgaged Properties and such other matters as Collateral Agent may reasonably request, in each case in form and substance reasonably satisfactory to Collateral Agent; and
(iii) with respect to the lender’s title insurance policy insuring each Mortgaged Property, a mortgage modification endorsement, executed by a title company that is reasonably satisfactory to Collateral Agent with respect to each Mortgaged Property that is in form and substance reasonably satisfactory to Collateral Agent, insuring that the validity, enforceability and priority of the applicable mortgage and that the effectiveness of such title policy shall remain unchanged following recordation of the related Mortgage Modification.
Mortgage Modifications. To the extent required under applicable Law, or as may be reasonably requested by the Collateral Agent, within sixty (60) days of the Effective Date (as such time period may be extended by the Administrative Agent, in its sole discretion), the Borrower shall deliver, or cause to be delivered, to the Collateral Agent a duly executed modification with respect to each Mortgage encumbering a Mortgaged Property together with modification endorsements to the applicable Mortgage Policy, customary real estate opinion(s) of counsel and such other customary documents reasonably requested by the Collateral Agent in connection with this Amendment (which shall be consistent with requirements set forth in Section 6.18 of the Credit Agreement), all in form and substance reasonably acceptable to the Collateral Agent.