First Mortgage Borrower definition

First Mortgage Borrower means 515/555 Flower Associates, LLC, a Delaware limited liability company.
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Examples of First Mortgage Borrower in a sentence

  • Borrower hereby restates and reaffirms each of the representations and warranties made by First Mortgage Borrower set forth in the First Mortgage Loan Documents as if the same were more fully set forth herein and were made to the Lender.

  • Borrower shall give prompt written notice to Lender of any litigation or governmental proceedings or investigations pending or threatened (in writing) against Borrower, First Mortgage Borrower or the Mortgaged Property.

  • If such action or proceeding is terminated or discontinued adversely to First Mortgage Borrower, then, Borrower shall, upon written demand, deliver to the Lender reasonable evidence of compliance by First Mortgage Borrower with such contested Legal Requirement.

  • In the event that First Mortgage Borrower is permitted pursuant to the terms of the First Mortgage Loan Documents to reconstruct, restore or repair the Mortgaged Property following a condemnation of any portion of the Mortgaged Property, Borrower shall cause First Mortgage Borrower to promptly and diligently repair and restore the Mortgaged Property in the manner and within the time periods required by the First Mortgage Loan Documents, the Leases and any other agreements affecting the Mortgaged Property.

  • In the event that First Mortgage Borrower is permitted pursuant to the terms of the Mortgage to elect not to reconstruct, restore or repair the Mortgaged Property following a condemnation of any portion of the Mortgaged Property, Borrower shall not permit First Mortgage Borrower to elect not to reconstruct, restore or repair the Mortgaged Property without the prior written consent of the Lender.

  • Notwithstanding the foregoing, Borrower shall cause First Mortgage Borrower promptly to comply with any contested Legal Requirement, and compliance therewith shall not be deferred, if First Mortgage Borrower or the First Mortgage Lender may be subject to civil or criminal charges or damages a result thereof.

  • Borrower is the sole member of First Mortgage Borrower, and no other Person owns any legal, equitable or beneficial interest in First Mortgage Borrower.

  • On or before the Closing Date, Borrower shall establish and maintain with the Bank, for the benefit of Lender until the Loan is paid in full, an account for the Capital Improvement Costs, Leasing Commissions and TI Costs to be incurred by First Mortgage Borrower in connection with the Renovation (the “Repositioning Costs Reserve Account”).

  • Borrower covenants and agrees to give the Lender prompt notice of any non-compliance with such Legal Requirements and of any notice of non-compliance therewith which it or First Mortgage Borrower receives or any threatened or pending proceedings in respect thereto or with respect to the Mortgaged Property (including, without limitation, changes in zoning) of which First Mortgage Borrower or Borrower receives notice.

  • Each of Borrower and First Mortgage Borrower believes that its tax returns properly reflect the income and taxes of such Person, for the periods covered thereby.

Related to First Mortgage Borrower

  • Mortgage Borrower shall have the meaning set forth in the Recitals to this Agreement.

  • Mezzanine Borrower shall have the meaning set forth in Section 11.6 hereof.

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

  • First Mortgagee means the holder of any First Mortgage.

  • Operating Lessee means, with respect to a Hotel Property, the Subsidiary of the Parent Guarantor that leases such Hotel Property from a Subsidiary of the Parent Guarantor that is the owner or ground lessee of such Hotel Property.

  • First Mortgage Bonds means bonds issued by the Company pursuant to the Indenture.

  • Mezzanine Lender shall have the meaning set forth in the first paragraph of this Agreement.

  • Mezzanine Loan Agreement means that certain Mezzanine Loan Agreement, dated as of the date hereof, between Mezzanine Borrower and Mezzanine Lender, as the same may be amended, restated, replaced, supplemented or otherwise modified from time to time.

  • Property Owners association" or "association" means an incorporated or unincorporated entity upon which responsibilities are imposed and to which authority is granted in the declaration.

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

  • Property Owner means any person shown as the owner of land on the last equalized assessment roll or otherwise known to be the owner of land by the city council. “Business owner” means any person recognized by the city as the owner of the business. “Owner” means either a business owner or a property owner. The city council has no obligation to obtain other information as to the ownership of land or businesses, and its determination of ownership shall be final and conclusive for the purposes of this part. Wherever this part requires the signature of the property owner, the signature of the authorized agent of the property owner shall be sufficient. Wherever this part requires the signature of the business owner, the signature of the authorized agent of the business owner shall be sufficient.

  • First Mortgage Loan A Home Equity Loan which constitutes a first priority mortgage lien with respect to any Property.

  • Ground Lessee means the Owner Lessor as lessee of the Ground Interest under the Facility Site Lease.

  • Master Tenant means any entity approved by HUD now or hereafter leasing the Healthcare Facility pursuant to a Master Lease.

  • Financing Lease any lease of property, real or personal, the obligations of the lessee in respect of which are required in accordance with GAAP to be capitalized on a balance sheet of the lessee.

  • mezzanine means a mezzanine as defined in the Building Code Act;

  • Closing Date Mortgaged Property as defined in Section 3.1(h).

  • First Mortgage Indenture means a first mortgage indenture pursuant to which any Borrower or any Subsidiary of any Borrower may issue bonds, notes or similar instruments secured by a lien on all or substantially all of such Borrower’s or such Subsidiary’s fixed assets, as the case may be.

  • Facility Mortgage As defined in Section 13.1.

  • Property Owner Association Property means, for each Fiscal Year, any property within the boundaries of IA No. 1 that was owned by a property owner association, including any master or sub-association, as of January 1 of the prior Fiscal Year.

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

  • Mezzanine Loan means a mezzanine loan secured by equity interests in the Mortgage Loan Borrower.

  • Mezzanine Loan Documents means all documents or instruments evidencing, securing or guaranteeing the Mezzanine Loan, including without limitation, the Mezzanine Loan Agreement.

  • Facility Mortgagee means the holder of any Facility Mortgage.

  • Sub-Lessee means a lease/license by a Lessee of part or all of leased space to another person.

  • Additional Mortgaged Property shall have the meaning provided in Section 8.11(a).