Assumed Mortgages definition

Assumed Mortgages means those mortgages or deeds of trust relating to the Assumed Real Property Loans held by Lenders secured by the various individual Properties or groups of Properties set forth on Exhibit B, as modified in accordance with this Agreement.
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Assumed Mortgages. (a) that certain mortgage loan in the original principal amount of $12,360,000 made by TCF National Bank to XXX Xxxxxx LLC (f/k/a Xxxx ID Ankeny IA, LLC) on or around July 19, 2013 and secured by, among other things, that certain Mortgage, Assignment of Leases and Rents and Security Agreement, dated as of July 19, 2013, and related to the Property located at 0000 Xxxxxxxx Xxxxxx, Xxxxxx, Xxxx, (b) that certain mortgage loan in the original principal amount of $48,750,000 made by PNC Bank, National Association to SIR Chesterfield LLC (f/k/a Xxxx ID Chesterfield VA, LLC) on or around October 10, 2013 and secured by, among other things, that certain Deed of Trust, Assignment of Leases and Rents, and Security Agreement, dated as of October 10, 2013, and related to the Property located at 0000 Xxxxxxxxxxx Xxxxxxxxxx Xxxxxxx, Xxxxxxx, Xxxxxxxx, and (c) that certain mortgage loan in the original principal amount of $2,000,000 made by Accordia Life and Annuity Company (f/k/a Presidential Life Insurance Company — USA), as successor by assignment from Aviva Life and Annuity Company, to XXX Xxxxxx LLC (f/k/a Xxxx ID Harvey IL, LLC) on or around May 31, 2012 and secured by, among other things, that certain First Mortgage, Security Agreement and Fixture Filing, dated as of May 31, 2012, and related to the Property located at 0000 Xxxx 000xx Xxxxxx, Xxxxxx, Xxxxxxxx.
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Assumed Mortgages mean the obligations of Prime Foods Processing Inc. in favour of the Business Development Bank of Canada not exceeding $550,000 and the obligations of D.C. Food Processing Inc. in favour of the Royal Bank of Canada not exceeding $583,000 secured by a Charge/Mortgage of Land registered against the Lands.
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Examples of Assumed Mortgages in a sentence

  • Fair Value of Assumed Mortgages Payable and Fair Value of Mortgages PayableMost of the mortgage indebtedness of the REIT was assumed in conjunction with rental property acquisitions.

  • Fair Value of Assumed Mortgages Payable and Fair Value of Mortgages PayablePredominately all the mortgage indebtedness of the REIT was assumed in conjunction with rental property acquisitions.

  • At the Closing, Stayton shall convey to Purchaser all of Sellers' right, title and interest in and to the Property, free and clear of all Encumbrances, excepting, however, only the Assumed Mortgages, Resident Agreements, the Assumed Unexpired Leases, the Assumed Operating Contracts and those matters defined as Permitted Exceptions.

  • The Assumed Mortgages (as defined herein and which are comprised of all of the existing mortgage debt and liabilities associated with the Acquisition Properties), have a weighted average stated interest rate of 1.98% and an expected weighted average term to maturity of approximately seven years as at December 31, 2018.

  • At the Closing, CDA shall transfer to TradeArk title to the Maumelle Tracts, subject to the Assumed Mortgages and Trade Partners shall transfer to TradeArk those Viatical Settlement Contracts referred to in Section 2.

  • After combined with the income, the net performance of the insurance fund was negative.commented as follows:1.

  • To the Seller Parties’ Knowledge, (a) no default exists under the Assumed Mortgages or the Assumed Loan Documents, and (b) all principal and interest and any and all other required payments in the nature of impounds, reserves and otherwise, have been paid.

  • Some of the Maumelle Assumed Debt is secured by mortgages (the "Assumed Mortgages") on certain parcels of the Maumelle Tracts.

  • Fair Value of Assumed Mortgages Payable and Fair Value of Mortgages PayableGAAP requires that the mortgages payable assumed on acquisition of properties be recorded at fair value.

  • Financing Risks Relating to the AcquisitionsThe REIT intends to finance a portion of the Acquisitions through the New Mortgages, the Assumed Mortgages and the VTB Mortgage.


More Definitions of Assumed Mortgages

Assumed Mortgages means the mortgages listed in Section 2.6 of the Campus Disclosure Letter, the indebtedness and other obligations secured by such mortgages and the security interests granted thereunder, other than those securing liens on any Withdrawn Properties.
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Assumed Mortgages shall have the meaning set forth in Section 5.16(a).
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Assumed Mortgages means all of the existing mortgage debt and term loan liabilities associated with the Acquisition Properties, which are to be assumed by the REIT in connection with the Acquisition, as described under “Particulars of Matters to be Acted Upon at the Meeting – The Acquisition”.
Sample 1

Related to Assumed Mortgages

  • Permitted Mortgage means (a) any purchase money mortgage on such Principal Property prior to, simultaneously with or within 180 days after the later of (1) the acquisition or completion of construction or completion of substantial reconstruction, renovation, remodeling, expansion or improvement (each, a “substantial improvement”) of such Principal Property or (2) the placing in operation of such property after the acquisition or completion of any such construction or substantial improvement; (b) Mortgages on a Principal Property existing at the time of acquisition, including acquisition through merger or consolidation; (c) Mortgages existing on the date of the initial issuance of the Notes, Mortgages on assets of a corporation or other business entity existing on the date it becomes a Restricted Subsidiary or is merged or consolidated with the Company or a Restricted Subsidiary or at the time the corporation or other business entity sells, leases or otherwise disposes of its property as an entirety or substantially as an entirety to the Company or a Restricted Subsidiary or Mortgages on the assets of a Subsidiary that is newly designated as a Restricted Subsidiary if the Mortgage would have been permitted under the provisions of this paragraph if such Mortgage was created while the Subsidiary was a Restricted Subsidiary; (d) Mortgages in favor of the Company or a Restricted Subsidiary; (e) Mortgages for taxes, assessments or governmental charges or levies that are not delinquent or that are being contested in good faith; (f) carriers’, warehousemen’s, materialmen’s, repairmen’s, mechanic’s, landlords’ and other similar Mortgages arising in ordinary course of business that are not delinquent or remain payable without penalty or that are being contested in good faith; (g) Mortgages (other than any Mortgage imposed by the Employee Retirement Income Security Act of 1974) consisting of pledges or deposits required in the ordinary course of business in connection with workers’ compensation, unemployment insurance and other social security legislation; (h) easements, rights-of-way, restrictions, encroachments, imperfections and other similar encumbrances affecting real property that, in the aggregate, are not substantial in amount and do not in any case materially detract from the value of the Principal Property subject thereto or materially interfere with the ordinary conduct of the Company and its Subsidiaries’ business, taken as a whole; (i) Mortgages arising by reason of deposits with, or the giving of any form of security to, any governmental agency or any body created or approved by law or governmental regulation, including any zoning or similar law or right reserved to or vested in any governmental office or agency to control or regulate the use of any real property; (j) Mortgages arising from filing Uniform Commercial Code financing statements relating solely to leases; and (k) Mortgages to secure Indebtedness incurred to extend, renew, refinance or replace Indebtedness secured by any Mortgages referred to above, provided that the principal amount of the extended, renewed, refinanced or replaced Indebtedness does not exceed the principal amount of Indebtedness so extended, renewed, refinanced or replaced, plus transaction costs and fees, and that any such Mortgage applies only to the same property or assets subject to the prior permitted Mortgage (and, in the case of real property, improvements).

  • Existing Mortgage has the meaning specified in Section 5.02(a)(vi).

  • Purchased Mortgage Loans means the collective reference to Mortgage Loans sold by Seller to Buyer in a Transaction hereunder, listed on the related Mortgage Loan Schedule attached to the related Transaction Request, which such Mortgage Loans the Custodian has been instructed to hold pursuant to the Custodial Agreement.

  • Existing Mortgages means the Mortgages executed and delivered in connection with the Existing Credit Agreement.

  • Substitute Mortgage Loan A Mortgage Loan substituted by the Seller for a Deleted Mortgage Loan which must, on the date of such substitution, as confirmed in a Request for Release, substantially in the form of Exhibit L, (i) have a Stated Principal Balance, after deduction of the principal portion of the Scheduled Payment due in the month of substitution, not in excess of, and not more than 10% less than the Stated Principal Balance of the Deleted Mortgage Loan; (ii) have an Adjusted Net Mortgage Rate not lower than the Adjusted Net Mortgage Rate of the Deleted Mortgage Loan, provided that the Master Servicing Fee for the Substitute Mortgage Loan shall be equal to or greater than that of the Deleted Mortgage Loan; (iii) have a maximum mortgage rate not more than 1% per annum higher or lower than the maximum mortgage rate of the Deleted Mortgage Loan; (iv) have a minimum mortgage rate specified in its related Mortgage Note not more than 1% per annum higher or lower than the minimum mortgage rate of the Deleted Mortgage Loan; (v) have the same mortgage index, reset period and periodic rate as the Deleted Mortgage Loan and a gross margin not more than 1% per annum higher or lower than that of the Deleted Mortgage Loan (vi) be accruing interest at a rate no lower than and not more than 1% per annum higher than, that of the Deleted Mortgage Loan; (iv) have a Loan-to-Value Ratio no higher than that of the Deleted Mortgage Loan; (vii) have a remaining term to maturity no greater than (and not more than one year less than that of) the Deleted Mortgage Loan; (viii) not be a Cooperative Loan unless the Deleted Mortgage Loan was a Cooperative Loan and (ix) comply with each representation and warranty set forth in Section 2.3 hereof.

  • Park Sienna Mortgage Loans The Mortgage Loans identified as such on the Mortgage Loan Schedule for which Park Sienna is the applicable Seller.

  • EMC Mortgage Loans Those Mortgage Loans serviced by the Company pursuant to the terms of this Agreement.

  • Covered Mortgage Loan Any Mortgage Loan that is covered by a PMI Policy.

  • Retained Mortgage Loan File A file for each Mortgage Loan maintained by the Servicer prior to any Document Transfer Date and by the Custodian after any Document Transfer Date that contains the documents specified in Section 2.01(b) of the Pooling and Servicing Agreement and any additional documents required to be added to the Retained Mortgage Loan File pursuant to the Pooling and Servicing Agreement.

  • Subserviced Mortgage Loan Any Mortgage Loan that, at the time of reference thereto, is subject to a Subservicing Agreement.

  • FHA Approved Mortgagee A corporation or institution approved as a mortgagee by the FHA under the Act, and applicable HUD regulations, and eligible to own and service mortgage loans such as the FHA mortgage loans.

  • MERS Mortgage Loan Any Mortgage Loan registered with MERS on the MERS System.

  • Serviced Mortgage Loan A Mortgage Loan that is not an Outside Serviced Mortgage Loan.

  • Pool 1 Mortgage Loans Any Mortgage Loan in Pool 1.

  • Retained Mortgage File With respect to each Mortgage Loan, the file consisting of the Mortgage Loan Documents listed as items 6 through 12 of Exhibit C attached hereto. Securities Act: The Securities Act of 1933, as amended.

  • Conforming Mortgage Loan means a first lien Mortgage Loan originated in accordance with the criteria of an Agency for purchase of Mortgage Loans, including, without limitation, conventional Mortgage Loans, FHA Loans and VA Loans, as determined by Buyer in its sole discretion.

  • Park Monaco Mortgage Loans The Mortgage Loans identified as such on the Mortgage Loan Schedule for which Park Monaco is the applicable Seller.

  • Non-Serviced Mortgage Loan means a Mortgage Loan included in the Trust but serviced under another agreement. There are no Non-Serviced Mortgage Loans in the Trust.

  • Mortgage Assets The Mortgage Loans to be included in the Trust Fund are as described in Annex A hereto.

  • PMI Mortgage Loans The list of Mortgage Loans insured by the PMI Insurer attached hereto as Schedule II.

  • Reverse mortgage means a nonrecourse loan under which both of the following apply:

  • Second Mortgage means a mortgage from which the proceeds of a loan or other extension of credit made by a third person are secured by a mortgage on the real property for which the mortgagor has used the proceeds of the loan or other extension of credit to pay all or part of the purchase price of the property.

  • Modified Mortgage Loan Any Mortgage Loan that has been the subject of a Servicing Modification.

  • Mortgage Assignment means an assignment of the Mortgage in recordable form, sufficient under the laws of the jurisdiction wherein the related Mortgaged Property is located to reflect the sale of the Mortgage.

  • Released Mortgaged Property Proceeds As to any Mortgage Loan, proceeds received by the Servicer in connection with (a) a taking of an entire Mortgaged Property by exercise of the power of eminent domain or condemnation or (b) any release of part of the Mortgaged Property from the lien of the related Mortgage, whether by partial condemnation, sale or otherwise, which are not released to the Mortgagor in accordance with applicable law and mortgage servicing standards the Servicer would use in servicing mortgage loans for its own account and this Agreement.

  • Additional Mortgaged Property shall have the meaning provided in Section 8.11(a).