Factory Mortgage definition

Factory Mortgage means a second priority mortgage over certain asset(s) of the Borrower in favor of the Lender for the purpose of securing any and every obligation of the Borrower owing to the Lender under the Loan Documents and any other document signed by and between the Borrower (as mortgagor) and Lender (as mortgagee) in accordance with the Factory Mortgage Agreement.
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Factory Mortgage means the Combination Mortgage, Assignment of Rents and Fixture Financing Statement, executed by Diamond for the benefit of the Lender, dated as of September 8, 1998, concerning the Factory Mortgaged Property, as amended.
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Factory Mortgage means the Combination Mortgage, Assignment of Rents and Fixture Financing Statement, executed by the Borrower for the benefit of the Lender, dated as of September 8, 1998, concerning the Factory Mortgaged Property, as amended by a First Amendment to Combination Mortgage, Assignment of Rents and Fixture Financing Statement of even date herewith.
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Examples of Factory Mortgage in a sentence

  • Each Borrower’s obligation to pay the Equipment Advances shall be evidenced by such Borrower’s Equipment Note and shall be secured by the Collateral as provided in Article III and the Mortgaged Property as defined in each of the Factory Mortgage and the Farm Mortgage.

  • Each Borrower’s obligation to pay the Revolving Advances shall be evidenced by such Borrower’s Revolving Note and shall be secured by the Collateral as provided in Article III and the Mortgaged Property as defined in each of the Factory Mortgage and the Farm Mortgage.

  • These Kun-mortgages constitute a “factory mortgage” established under the Factory Mortgage Act, which provides for the mortgage with a security interest with respect to the land and buildings constituting the factory, as well as all of the machinery, equipment and other assets located in the factory over which the mortgage has been established.

  • The Borrower shall complete the amendment registration of the Factory Mortgage pursuant to the amended Factory Mortgage Agreement immediately after the first Drawdown.

  • Each Borrower's obligation to pay the Revolving Advances shall be evidenced by such Borrower's Revolving Note and shall be secured by the Collateral as provided in Article III and the Mortgaged Property as defined in each of the Factory Mortgage and the Farm Mortgage.

  • The Borrowers’ obligation to pay the Term Loan B Advances shall be evidenced by the Term Loan B Note and shall be secured by the Collateral as provided in Article III and the Mortgaged Property as defined in each of the Factory Mortgage and the Farm Mortgage.

  • The Borrower shall, on the date of the first Drawdown, execute the Factory Mortgage Agreement and deliver to the Lender copies of all necessary documents required for the application of a second priority mortgage thereunder including, without limitation, written confirmation from the register’s office that the application as such has been filed.

  • The Borrower shall complete the registration of the second priority mortgage pursuant to the Factory Mortgage Agreement immediately after the first Drawdown.

  • For the avoidance of any doubt, the Mortgagor and the Mortgagee agree and acknowledge that the Factory Mortgage created hereunder does not include the land on which the Mortgaged Property is situated.

  • If the Mortgagee, in its reasonable judgment, deems it necessary to file for an amendment or addition to the Factory Mortgage for the preservation of the Mortgagee's rights, the Mortgagor shall immediately take all such actions as the Mortgagees may request.

Related to Factory Mortgage

  • Ship Mortgage any mortgage, deed of trust or other similar agreement made by a Loan Party in favor of the Collateral Agent or any Common Representative, for the benefit of the Collateral Agent and the Secured Parties, on any tanker or other marine vessel constituting Collateral, which shall be in form reasonably satisfactory to the Collateral Agent and the Borrower.

  • Facility Mortgage As defined in Section 13.1.

  • Existing Mortgage has the meaning specified in Section 5.02(a)(vi).

  • First Mortgage means a Mortgage that constitutes a first Lien on the real property and improvements described in or covered by that Mortgage.

  • Fee Mortgage Any mortgage, pledge agreement, security agreement, assignment of leases and rents, fixture filing or similar document creating or evidencing a lien on Landlord’s interest in the Leased Property or any portion thereof (or an indirect interest therein, including without limitation, a lien on direct or indirect interests in Landlord) in accordance with the provisions of Article XXXI hereof.