Construction Mortgages definition

Construction Mortgages means Mortgages granted as Security for Loans which are advanced against stipulated budgets for multi-family residential and commercial, retail, service, office and/or industrial use projects;
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Construction Mortgages means Mortgages provided to borrowers to assist with the funding of the construction of a new project or the construction or redevelopment of an existing project.
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Examples of Construction Mortgages in a sentence

  • Construction Mortgages, deeds of trust, sales and leases-back shall be permitted before completion of the Project with the Authority's prior written approval, which shall not be unreasonably withheld or delayed, but only for the purpose of securing loans of funds to be used for financing the Project, and any other purposes necessary for the construction of the Project, and necessary and appropriate under this Agreement.

Related to Construction Mortgages

  • Existing Mortgages means each of the mortgages, deeds of trust or other agreements made pursuant to the Existing Credit Agreement by any Loan Party in favor of the Agent for the benefit of the Agent and the Lenders.

  • Mortgage Amendments as defined in Section 4.19(b).

  • Construction Contracts means the contracts between Lessee and Contractors for the furnishing of labor, services or materials to the Leased Premises in connection with the construction of the Improvements.

  • Aircraft Mortgage means each Aircraft and Engine mortgage and security agreement entered into by any Borrower in favor of the Agent evidencing the Liens in respect of such Aircraft Collateral that will secure the Obligations, in each case as amended, modified, restated, supplemented or replaced from time to time.

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