Common use of Purchase Money Mortgages Clause in Contracts

Purchase Money Mortgages. The aggregate amount of Borrowing Base Availability shall at all times be reduced by the then-outstanding aggregate principal balance of all purchase money mortgages encumbering Borrowing Base Projects that are Permitted Liens and that do not secure the Indebtedness.

Purchase Money Mortgages. The aggregate amount of Borrowing Base Availability shall at all times be reduced by the then-outstanding aggregate principal balance of all purchase money mortgages encumbering Borrowing Base Projects that are Permitted Liens and that do not secure the Indebtedness.