Mortgage Provisions Sample Clauses

Mortgage Provisions. The Mortgage Loan documents for each Mortgage Loan, together with applicable state law, contain provisions that render the rights and remedies of the holder thereof adequate for the practical realization against the Mortgaged Property of the principal benefits of the security intended to be provided thereby, including realization by judicial or, if applicable, non-judicial foreclosure subject to the limitations set forth in the Standard Qualifications.
Mortgage Provisions. The Mortgage Note, Mortgage (along with any security agreement and UCC financing statement) and Assignment of Leases for each Mortgage Loan, together with applicable state law, contain customary and, subject to the exceptions set forth in Paragraph 13 below, enforceable provisions for commercial Mortgage Loans such as to render the rights and remedies of the holder thereof adequate for the practical realization against the related Mortgaged Property of the principal benefits of the security intended to be provided thereby. The Mortgage Loan documents for each Mortgage Loan, subject to applicable law, provide for the appointment of a receiver for the collection of rents or for the related mortgagee to enter into possession to collect the rents if there is an event of default under such Mortgage Loan.
Mortgage Provisions. To the extent applicable, the Mortgage Note or Mortgage for each Purchased Loan, together with applicable state law, contains customary and enforceable provisions for comparable mortgaged properties similarly situated (subject to the exceptions set forth in paragraph 13) such as would be expected to render the rights and remedies of the holder thereof adequate for the practical realization against the related Mortgaged Property of the principal benefits of the security intended to be provided thereby.
Mortgage Provisions. The Mortgage Loan Documents for each Mortgage Loan contain provisions that render the rights and remedies of the holder thereof adequate for the practical realization against each related Mortgaged Property of the principal benefits of the security intended to be provided thereby, including realization by judicial or, if applicable, non-judicial foreclosure.
Mortgage Provisions. All insurance required under this Section 2.13 shall be taken out in the name of Mortgagor or on its behalf by an Affiliate of Mortgagor. Mortgagee and each Note Holder and the Sureties shall be named as an additional insureds under all liability policies (other than workers' compensation and similar insurance), and the Mortgagee and, so long as the Performance Bond is outstanding or amounts are due to the Surety as a result of payments made by it thereunder, the Surety, shall be named as the loss payees, as their interests may appear, under all physical damage policies with respect to the Vessel for any loss in excess of $5,000,000 or, after the occurrence and during the continuation of any Event of Default, any loss. All policies for such insurance shall also provide that (i) there shall be no recourse against Mortgagee (or its assignee) or any Note Holder or any loss payee or additional insured for the payment of premiums or commissions, (ii) if such policies provide for the payment of club calls, assessments or advances, there shall be no recourse against Mortgagee (or its assignee) or any Note Holder or any loss payee or additional insured for the payment thereof. All policies shall provide that the insurers shall provide to Mortgagee (or its assignee) and each Note Holder and any loss payee and additional insured, as the case may be, 30 days prior notice of any material change in the coverage of such insurance as well as ten (10) days prior written notice of any cancellation of such insurance in the event of non-payment of premiums and seven (7) days prior written notice of any cancellation of such insurance for war risk.
Mortgage Provisions. The Mortgage Note, Mortgage and the other Loan Documents for each Investment, together with applicable state law, contain customary and enforceable provisions (subject to the Permitted Encumbrances) such as to render the rights and remedies of the holder thereof adequate for the practical realization against the related Property of the principal benefits of the security intended to be provided thereby.
Mortgage Provisions. The Mortgage Note or Mortgage for each Mortgage Loan, together with applicable state law, contains customary and enforceable provisions (subject to the exceptions set forth in paragraph (13) below) such as to render the rights and remedies of the holder thereof adequate for the practical realization against the related Mortgaged Property of the principal benefits of the security intended to be provided thereby. Each Mortgage Loan contains a "due on sale" clause, which provides for the acceleration of the payment of the unpaid principal balance of the Mortgage Loan if, without prior written consent of the holder of the Mortgage, the property subject to the Mortgage or any material portion thereof, is transferred, sold or encumbered other than for the junior liens listed on Schedule B hereto; provided, however, that certain Mortgage Loans provide a mechanism for the assumption of the loan by a third party upon the Mortgagor's satisfaction of certain conditions precedent, and upon payment of a transfer fee, if any.
Mortgage Provisions. With respect to Loan 57, Westwood Estates Manufactured Housing Community, the Mortgage Loan documents waive Mortgagor's obligation to obtain and maintain insurance coverage for acts of terrorism. With respect to various Countrywide loans (other than any exceptions herein to the contrary), for so long as the Terrorism Risk Insurance Act of 2002 ("TRIA") is in effect (including any extensions), the lender shall accept terrorism insurance which covers against "covered acts" as defined by TRIA. With respect to Loan 43, 120 Bloomingdale, Section 7.1(g) of the Loan Agreement provides: "Notwithstanding the foregoing, if the Terrorism Risk Insurance Act of 2002 is not in effect at any time, Borrower shall only be required to obtain the amount of terrorism coverage that can be obtained at a price equal to one hundred fifty percent (150%) of the aggregate insurance premiums payable with respect to all of the insurance coverage under Section 7.1 of this Agreement for the prior policy year." With respect to Loan 14, EDS Portfolio, for so long as the Terrorism Risk Insurance Act of 2002 is in effect (including any extensions) Lender shall accept terrorism insurance which covers against "covered acts" as defined therein. If the Terrorism Risk Insurance Act of 2002 is not reauthorized, or is reauthorized at significantly different terms than the expiring Act, terrorism insurance must be purchased from private insurers for the full replacement cost of the Improvements, provided that the cost of such insurance shall not exceed $175,000 annually. With respect to the Loan 8, Xxxxxx Xxxxxx Portfolio I, annual premiums for terrorism insurance coverage are not to exceed 200% of the other required insurance costs. With respect to Loan 114, 69, 91, 97, 47 and 25 Flamingo Self Storage, Pecanland Commons, Xxxxxxxxx Plaza, Mainplace Merced, Pageantry West and The Courtyard on Wilshire, the related Borrower is obligated to obtain insurance to cover perils of terrorism and acts of terrorism so long as such coverage is commercially reasonably available.