Mortgage Term Sample Clauses
The Mortgage Term clause defines the length of time over which the borrower is obligated to repay the mortgage loan. Typically, this period can range from several years to a few decades, such as 15, 20, or 30 years, and it determines the schedule for regular payments and the date by which the full loan amount must be repaid. By clearly specifying the duration of the loan, this clause provides certainty for both lender and borrower regarding repayment expectations and helps structure the financial planning for both parties.
Mortgage Term. The Mortgage Term set in the Contract (hereinafter referred to as “the Mortgage Term”) shall be started from the date of effectiveness and ended at the day of the termination of the mortgage under Article 13.1.
Mortgage Term. 3-1 The mortgage term stated in the contract is two years from the date of signing the contract to the expiration of the performance period for the Lessee to perform the obligations under the Master Contract. If the Mortgagee agrees to extend the principal debt, the mortgage term is two years after the expiration of the performance period of the principal debt re-agreed for the extension.
Mortgage Term. 3.1 The mortgage co-exists with all the debts under the Master Contract, and the mortgage will not be extinguished until all the debts under the Master Contract have been fully liquidated.
3.2 If there is a mortgage term set forth by the mortgage registration authority, the two parties shall register the mortgage for the maximum term, and if the Mortgagee fails to liquidate the debts under the Master Contract when the mortgage term expires, the Mortgager shall (1) notify the Mortgagee within thirty days before expiration of the term; and (2) duly complete registration of change in the mortgage term before expiration of the term. Mortgage rights available for the Mortgagee by law remain the same before completion of the registration of change.
Mortgage Term. The mortgage right and mortgage liability of this Contract exist at the same time. When the primary liability is paid off, the mortgage right perishes. As the requirement of the mortgage registration department, the mortgage term is registered as from September 25, 2008 to September 25, 2009. When the mortgage term expires but the debtor fails to pay off the primary liability, then:
1. The mortgage right shall be granted to creditor according to law;
2. The mortgagor shall complete the mortgage registration procedure.
Mortgage Term. The mortgage term is starting from the effective date hereof until the expiry of the statute of limitation of the creditor’s right under the Entrusted Loan Agreement.