B Mortgage definition
Examples of B Mortgage in a sentence
The right of the Master Servicer to elect to terminate the Trust Fund pursuant to this clause (a) shall be conditioned upon the Aggregate Pool Principal Balance of the Group B Mortgage Loans and the Group B-I Mortgage Loans, at the time of any such repurchase, aggregating less than five percent (5%) of the aggregate Cut-off Date Principal Balance of the Mortgage Loans.
West Tennessee Detention Facility Mason, Tipton County, Tennessee EXHIBIT B Mortgage Debt Property: West Tennessee Detention Facility This property is subject to the following Mortgage Debt: That certain deed of trust of First Union National Bank of Tennessee, as Administrative Agent, dated July 18, 1997.
No term or provision of this B Mortgage may be changed, waived, discharged or terminated orally, but only by an instrument in writing signed by the Company and the Collateral Agent.
Any legal action or proceeding with respect to this B Mortgage may be brought in the courts of the State of New York or the United States for the Southern District of New York located in the Borough of Manhattan, and, by execution and delivery of this B Mortgage, each party hereto hereby irrevocably accepts for itself and in respect of its property, generally and unconditionally, the non-exclusive jurisdiction of the aforesaid courts.
Except as aforesaid otherwise provided and as provided elsewhere herein, this B Mortgage and the trusts created hereby shall continue in full force and effect in accordance with the terms hereof.
Nothing in this B Mortgage, whether express or implied, shall be construed to give any Person other than the Company, the Collateral Agent and the other Secured Parties any legal or equitable right, remedy or claim under or in respect of this B Mortgage, except that the Persons referred to in the last paragraph of Section 3.02(b) shall be third party beneficiaries of such paragraph.
Upon such acquisition, Mortgagor, at its sole cost and expense, shall deliver to Mortgagee an ALTA Form B Mortgage Title Insurance Policy insuring that this Mortgage, as so spread to cover Mortgagor's fee interest in such leased property, is a valid first lien on ▇▇▇▇▇▇▇▇▇'s interest therein, subject only to the Permitted Exceptions.
For all purposes of this B Mortgage, in the absence of knowledge by a Responsible Officer, the Collateral Agent shall not be deemed to have knowledge of a Default, an Event of Default or an Event of Loss unless notified in writing by the Company or any Secured Party.
The B Mortgage is hereby incorporated by reference herein and is hereby ratified, approved and confirmed.
This B Mortgage may be executed by the parties hereto in separate counterparts (or upon separate signature pages bound together into one or more counterparts), each of which when so executed and delivered shall be an original, but all such counterparts shall together constitute but one and the same instrument.