Borrower NPI Mortgage definition
Borrower NPI Mortgage means that certain deed of trust executed by Borrower in favor of Administrative Agent for the benefit of Payee to secure the NPI Obligations, in substantially the form of the attached Exhibit D or such other form as may be reasonably requested by Administrative Agent.
Examples of Borrower NPI Mortgage in a sentence
The parties hereto agree that (a) all obligations of the Borrower owing to Payee hereunder shall be secured by the Borrower NPI Mortgage and (b) to the extent that the Net Profits Interest is not treated as an interest in real property, any determination of damages owed by the Borrower to Payee hereunder shall be determined as provided in the definition of Fair Value.