GDB MORTGAGE definition
GDB MORTGAGE means those certain mortgages, dated as of the date hereof, made by the Borrower in favor of GDB and securing the GDB Loan, which mortgages were constituted on the date of this Agreement (i) by Deed Number Two before Notary Public ▇▇▇▇▇ ▇▇▇▇▇ ▇▇▇▇▇▇▇▇, and (ii) by Deed Number Three before Notary Public ▇▇▇▇▇ ▇▇▇▇▇ ▇▇▇▇▇▇▇▇, respectively. Improvements shall mean the improvements to be renovated or constructed on the Premises pursuant to the Plans, consisting of approximately 750 guest rooms, approximately 50,000 square feet of meeting space (including prefunctionary space), six restaurants, approximately 13,000 square feet of retail space, an approximately 10,000 square foot casino, a marina, approximately 100,000 square feet of swimming pools and water features, an 18-hole golf course, an approximately 40,000 square foot clubhouse and spa facility, eight tennis courts, water sports facilities on the Palominos Island Property and related amenities and facilities.
GDB MORTGAGE means the mortgage, deed of trust or similar security agreement in form reasonably satisfactory to GDB, made or to be made by Borrower upon the Premises, to be encumbered in favor of GDB to secure the payment of the GDB Loan, creating a second priority Lien on the Premises, more particularly a second mortgage in the principal amount of $25,000,000.00, encumbering the Premises, including all buildings, improvements, fixtures and personal property presently located thereon and all buildings and improvements to be erected and constructed thereon and all fixtures and personal property owned by Borrower to be placed therein.
GDB MORTGAGE shall have the meaning assigned thereto in the GDB Loan Agreement.