Mortgage Notes. Seller financing notes that the Borrower has received from purchasers of its properties. For purposes of calculations in this Agreement, Mortgage Notes shall be valued in accordance with GAAP (including write-offs for uncollectability).
Mortgage Notes. The Assignor shall notify the Security Agent (x) of (i) any payment default in respect of any pledged Collateral which has continued for 30 days, 60 days or 90 days, respectively, and any other material default In any other term of any pledged Collateral, (ii) the occurrence of an Insolvency Event (of which the Borrower has knowledge) in respect of any obligor on any Mortgage Loan pledged as Collateral and (iii) the commencement of foreclosure or similar proceedings in respect of the premises which secure any Mortgage Loan pledged as Collateral, such notice to be delivered not later than three (3) Business Days following the occurrence thereof in the cast of clauses (i) and (iii) and promptly upon the Assignee's receiving notice or otherwise becoming aware thereof in the case of clause (ii) and (y) immediately upon the payment by any mortgagor of principal under any Mortgage Note then hold by the Security Agent hereunder in an amount of $1,000 or more in excess of the regularly scheduled installment thereon, identifying the loan number of such Mortgage Loan and the amount so paid.
Mortgage Notes. Neither Kranzco nor any of its Subsidiaries holds any notes or related mortgages.
Mortgage Notes. (a) Mortgages. Set forth in Schedule 7.25 of the CV Disclosure Letter is a list of each note and related mortgage and all amendments and modifications thereof (each such note and mortgage, together with the loan evidenced thereby, a "Mortgage") held by CV, including the original and unpaid principal amounts thereof, the due date thereof and interest rate thereon.
Mortgage Notes. On or prior to the Closing Date, the Operating Partnership shall have paid or caused to be paid all amounts outstanding under the first mortgage loans from the Purchaser to certain Affiliates of the Operating Partnership listed on Schedule A hereto (the "Mortgage Notes").
Mortgage Notes. The Company has issued $45,000,000 aggregate principal amount of 13% First Mortgage Notes due 2005 With Contingent Interest (together with all notes issued in exchange or replacement therefor, the "Notes") pursuant to an Indenture (as amended, supplemented or otherwise modified from time to time, the "Indenture") dated as of the date hereof between the Company and IBJ Whitehall Bank & Trust Company, a New York banking association, as trustee (the "Trustee"), for the benefit of the holders from time to time (the "Holders") of the Notes.
Mortgage Notes. The Master Servicer may perform its master servicing responsibilities through agents or independent contractors, but shall not thereby be released from any of its responsibilities hereunder and the Master Servicer shall diligently pursue all of its rights against such agents or independent contractors. The Master Servicer shall make reasonable efforts to collect or cause to be collected all payments called for under the terms and provisions of the Mortgage Loans and shall, to the extent such procedures shall be consistent with this Agreement and the terms and provisions of any Primary Insurance Policy, any FHA insurance policy or VA guaranty, any hazard insurance policy, and federal flood insurance, cause to be followed such collection procedures as are followed with respect to mortgage loans comparable to the Mortgage Loans and held in portfolios of responsible mortgage lenders in the local areas where each Mortgaged Property is located. The Master Servicer shall enforce "due-on-sale" clauses with respect to the related Mortgage Loans, to the extent permitted by law, subject to the provisions set forth in Section 3.08. Consistent with the foregoing, the Master Servicer may, in accordance with prudent mortgage loan servicing practices, (i) waive or cause to be waived any assumption fee or late payment charge in connection with the prepayment of any Mortgage Loan and (ii) only upon determining that the coverage of any applicable insurance policy or guaranty related to a Mortgage Loan will not be materially adversely affected, arrange a schedule, running for no more than 180 days after the first delinquent Due Date, for payment of any delinquent installment on any Mortgage Note or for the liquidation of delinquent items. Subject to the fourth sentence of this paragraph, the Master Servicer shall have the right, but not the obligation, to purchase any Mortgage Loan delinquent 90 consecutive days or more for an amount equal to its Purchase Price; provided, however, that the aggregate Purchase Price of Mortgage Loans so purchased pursuant to this sentence shall not exceed one-half of one percent (0.50%) of the aggregate Principal Balance, as of the Cut-Off Date, of all Mortgage Loans. Subject to the fourth sentence of this paragraph, the Master Servicer shall also have the right, but not the obligation, to purchase, for an amount equal to its Purchase Price, any Mortgage Loan delinquent 90 consecutive days or more, for the purpose of requiring the Person who so...
Mortgage Notes. Without limiting the generality of the foregoing, the Borrower shall, as more fully set out in the Mortgage Note Assignment, assign to the Collateral Agent, as security for the Obligations other than Obligations under the Environmental Indemnity, all of the Borrower's right, title and interest in and to all Mortgage Notes, all Direct Note Collateral and all Borrower's Residual General Intangibles, in each case arising on account of any sale or other disposition of a Hotel Property after the Third Closing (except Excluded Assets), and such Mortgage Notes, Direct Note Collateral and Borrower's Residual General Intangibles shall constitute Collateral for all purposes hereof. The Borrower shall deliver to the Collateral Agent copies of all documents and instruments related to such Collateral upon the receipt of such documents or instruments by the Borrower or any of the other Companies.
Mortgage Notes. The notes executed by the Partnership in favor of the Mortgagees for each of the Loans. Mortgages: The mortgages or deeds of trust that grant security interests in the Partnership Property which secure the Mortgage Notes.
Mortgage Notes. Seller financing notes that the Borrower has received from purchasers of its properties. For purposes of calculations in this Agreement, Mortgage Notes shall be valued in accordance with GAAP (including write-offs for uncollectability). Multiemployer Plan. Any multiemployer plan within the meaning of §3(37) or §4001(a)(3) of ERISA or §414(f) of the Code maintained or contributed to by the Borrower, any Guarantor or any ERISA Affiliate. Net Cash Proceeds. With respect to any Capital Markets Transaction, the cash proceeds received from such Capital Markets Transaction, net of attorneys’ fees, investment banking fees, accountants’ fees, underwriting discounts and commissions and other customary fees and expenses actually incurred and payable to third parties in connection therewith. Net Income (or Loss). With respect to any Person (or any asset of any Person) for any period, the net income (or loss) of such Person (or attributable to such asset), determined in accordance with GAAP. Net Offering Proceeds. The gross cash proceeds received by REIT or any of its Subsidiaries as a result of an Equity Offering less the customary and reasonable costs, expenses and discounts paid by REIT or such Subsidiary in connection therewith.
