Collateral Mortgage definition

Collateral Mortgage means, in relation to each Collateral Vessel, the second preferred mortgage of such Collateral Vessel required to be executed hereunder by the Collateral Guarantor which is the owner thereof in such form as the Bank may agree or require, and in the plural means both of them;

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Collateral Mortgage means the second preferred Liberian Islands ship mortgage on the Collateral Vessel executed or (as the context may require) to be executed by the Collateral Corporate Guarantor in favour of the Bank in form satisfactory to the Bank;

Collateral Mortgage means a Mortgage that secures Collateral Loan Debt.

Examples of Collateral Mortgage in a sentence

• In addition, PHH Mortgage hereby assigns to the Purchaser all of its right, title and interest in and to the Additional Collateral Servicing Agreement with respect to the Additional Collateral Mortgage Loans, which right, title and interest shall be assigned by the Purchaser to the Trustee, for the benefit of the Certificateholders, pursuant to the Pooling and Servicing Agreement.

• With respect to any Additional Collateral Mortgage Loan, the Additional Collateral Servicer shall cause to be filed in the appropriate recording office a Form UCC-3 giving notice of the assignment of the related security interest to the Trust Fund and shall thereafter cause the timely filing of all necessary continuation statements with regard to such financing statements.

• In the event that Servicer receives an indemnification payment from MLCC as provided in the Loan Purchase and Sale Exhibit that is attributable to losses resulting from MLCC's failure to administer the Additional Collateral in accordance with the terms set forth in the Loan Purchase and Sale Exhibit in connection with Additional Collateral Mortgage Loans sold under the Purchase and Servicing Agreement, Servicer shall remit such amount to the Purchaser.

• If a Required Surety Payment is payable pursuant to the Limited Purpose Surety Bond with respect to any Additional Collateral Mortgage Loans, as determined by the Master Servicer and the Additional Collateral Servicer, the Master Servicer shall so notify the Trustee as soon as reasonably practicable and the Trustee shall promptly complete the notice in the form of Attachment 1 to the Limited Purpose Surety Bond and shall promptly submit such notice to the surety as a claim for a Required Surety Payment.

• The respective obligations and responsibilities of the Servicer and the Purchaser created hereby shall terminate, upon the termination of the Servicer's servicing obligations under the Purchase and Servicing Agreement in respect of the Additional Collateral Mortgage Loans sold thereunder.

More Definitions of Collateral Mortgage

Collateral Mortgage means, in relation to the Collateral Ship, the first preferred or priority ship mortgage on that Ship and, if required pursuant to the laws of the applicable Approved Flag State, a deed of covenant collateral thereto in such form as the Lender may approve or require;

Collateral Mortgage means any one of them.

Collateral Mortgage means a mortgage that secures all or part of the same amount as another mortgage, security instrument or mortgage package that has been duly stamped under this Act or a corresponding Act;

Collateral Mortgage means any deed of trust or mortgage, as applicable, and assignment of rents executed and delivered by a Collateral Loan Obligor to secure repayment of a Collateral Loan, as the Collateral Mortgage may be amended from time to time in accordance with the provisions of this Agreement.

Collateral Mortgage means a Mortgage and Security Agreement by Town of Islip Industrial Development Agency in favor of the Administrative Agent with respect to the Brentwood Premises, in form and substance satisfactory to the Administrative Agent and the Lenders.

Collateral Mortgage means the second priority or, as the case may be, preferred ship mortgage on the Collateral Ship under the jurisdiction of the relevant Approved Flag (together with, if applicable, the deed of covenants collateral thereto), each in agreed form.

Collateral Mortgage means the collateral mortgage dated as of October 1, 1997 from the Company in favor of the Bank, as said collateral mortgage may be amended or supplemented from time to time.