Date Down Endorsement definition

Date Down Endorsement means any date down endorsement to the Title Policies or other evidence of date down of title acceptable to Administrative Agent in its reasonable discretion covering (a) disbursements of loan proceeds made or to be made subsequent to the date of the Title Policies and (b) the period subsequent to the date of the Title Policies.

Date Down Endorsement means a date down or other endorsement to the Title Insurance Policy in the form attached hereto as Exhibit 6.5(B), or other evidence satisfactory to Lender, and in each case confirming (a) a continuing title insured first mortgage lien on the Project containing no exception other than Permitted Encumbrances, and (b) that the Title Policy insures the priority of the Lien of the Mortgage in the amount of all disbursements made pursuant to this Agreement.

Date Down Endorsement has the meaning assigned to that term in subsection 4.1K(iv).

Examples of Date Down Endorsement in a sentence

• Continuation of coverage could be provided by an ALTA Limited Pre-Foreclosure Policy Date Down Endorsement.

• ER-108 Date Down Endorsement (Loan Policy)If a Date Down Endorsement, subject to its terms, conditions and exclusions, insures the Insured under the originally issued Title Insurance Policy against loss or damage occurring or discovered subsequent to the date of the policy up to and including the date of the Date Down Endorsement, then the Rate for the Date Down Endorsement shall be fifty cents ($0.50) per thousand on the unpaid balance.

• When the Short Form Title policy does not have the language stating: “…or the date of recording, whichever is later,” then the original Date of Policy, or the updated Date of the Policy per a Date Down Endorsement, must be no earlier than the date and time of recording of the First Deed of Trust.

• ALTA Limited Pre-Foreclosure Date Down Endorsement** $50.00 (See Section 5.13, Class L) **(Endorsement to be issued only in connection with a previously issued ALTA Limited Pre-Foreclosure Policy to date down the policy prior to or during a foreclosure of the lender’s mortgage insured by the policy).

• AMERICAN LAND TITLE ASSOCIATION (ALTA) ENDORSEMENTS: Series #Series #Series #Series # OTHER ENDORSEMENTS: Date Down Endorsement – Owner’s Policy NOTE: When the policy issuing office is conducting a closing on behalf of the lender, Gap Coverage may be issued for the sole benefit of the Lender at no charge.

More Definitions of Date Down Endorsement

Date Down Endorsement means an endorsement to the Title Policy which is in form and content acceptable to B Participant and which in any case (a) dates down the effective date of the Title Policy to the date on which the applicable Disbursement it covers is made, (b) increases the liability limit of the Title Policy by an amount equal to the principal amount of such Disbursement, and (c) contains no new exceptions to title except those approved by B Participant.

Date Down Endorsement means an endorsement to Xxxxxx’s title policy insuring the Mortgage as a valid first, prior and paramount lien on the Property and deleting all exceptions and objections relating to any right to assert claims for mechanics’ liens on account of labor and/or materials furnished to the Property up to the date of the endorsement.

Date Down Endorsement has the meaning specified in Section 3.1. “Debt Service Coverage Ratio” has the meaning specified in Schedule 1. “Default” has the meaning specified in the definition of “Event of Default”. “Default Rate” has the meaning specified in Section 2.8. “Dollars”, “dollars” or the symbol “$” means lawful money of the United States of America denominated in United States dollars. “Equity Interest” means: (a) if Borrower is a corporation, its capital stock; (b) if Borrower is a limited liability company, its membership interests; or (c) if Borrower is a partnership, its partnership interests. “ERISA” means the Employee Retirement Income Security Act of 1974, as amended. “Event of Default” means any of the events specified in Section 7.1, provided that there has been satisfied any requirement in connection with such event for the giving of notice, or the lapse of time, or the happening of any further condition, event or act, and “Default” will mean any of such events, whether or not any such requirement has been satisfied. “Extension Debt Service Coverage Ratio” means the Debt Service Coverage Ratio recalculated to exclude from NOI any income from any Qualifying Lease which has a remaining term of less than twenty-four (24) months from the Initial Maturity Date. “Extension Request” has the meaning specified in Section 2.13. “Extension Term” has the meaning specified in Section 2.13. “Facility Fee” has the meaning specified in Section 2.2. “Financial Covenant Parties” has the meaning specified in Schedule 1. “GAAP” means generally accepted accounting principles applicable in the United States, consistently applied.

Date Down Endorsement is defined in Section 4.2(f).

Date Down Endorsement has the meaning specified in Section 3.1.

Date Down Endorsement has the meaning specified on Schedule 6.14.

Date Down Endorsement has the meaning given to such term in Section 4.2(o).