Institutional Mortgage definition

Institutional Mortgage as used in this Article XVII means a mortgage securing a loan from a bank (commercial or savings) or trust company, insurance company or pension trust or any other lender institutional in nature and constituting a lien upon the Leased Premises.

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Institutional Mortgage means any first mortgage covering one or more Units that is a Permitted Mortgage and the initial holder of which is either Sponsor or an Institutional Lender.

Institutional Mortgage is a mortgage held by an Institutional Lender on the interest of the Lessor in the real property constituting the Demised Premises.

Examples of Institutional Mortgage in a sentence

In such event, any partial Taking award shall be paid first to the Tenant in an amount equal to the greater of (i) the unamortized cost of any Improvements constructed by Tenant on the portion of the Premises subject to the Taking; or (ii) the amount necessary to discharge or, if such amount is insufficient, to reduce any Permitted Institutional Mortgage.
Each such Permitted Institutional Mortgage shall be expressly subject to the terms and conditions of this Lease.
Tenant shall promptly deliver to Landlord a true copy of the Permitted Institutional Mortgage.
Any such Supplemental Declaration must be executed by Declarant, the Owner of each Lot located on the Property sought to be withdrawn (if any) and each holder of an Institutional Mortgage on a Lot located on the Property sought to be withdrawn (if any), in order to be effective.
Notwithstanding the foregoing, however, if the Tenant has constructed the Improvements, Landlord shall not share in any Taking award with respect to the Improvements unless and until the unpaid balance of the Permitted Institutional Mortgage (as defined in Section 12.3 below) on the Premises, if any, is paid in full, all such Taking proceeds being used first to pay off and discharge such Permitted Institutional Mortgage.

More Definitions of Institutional Mortgage

Institutional Mortgage means a mortgage held by an Institutional Mortgagee on any property within Bennah Oaks.

Institutional Mortgage is a mortgage held by an Institutional Mortgagee encumbering any such property.

Institutional Mortgage is defined in Section 13.01.

Institutional Mortgage is a Mortgage granted to an Institution. An "Institution" is a bank, insurance company, trust company, savings and loan association, real estate investment trust, pension trust, governmental entity or similar institution. An "Institutional Mortgagee" is the holder of Mortgage of Owner's interest in the Riverboat.

Institutional Mortgage means a mortgage held by an Institutional Mortgagee on any property within Port Orange Plantation.

Institutional Mortgage means and refer to any mortgage by an Institutional Lender.

Institutional Mortgage is a first mortgage held by an Institutional Mortgagee encumbering a Lot or Living Unit.