Land Mortgages definition

Land Mortgages means singly and collectively, a properly recorded, first priority mortgage, deed of trust, deed to secure debt, assignment of beneficial interest or other security instrument encumbering all of the right, title and interest of Borrower in the Land and securing the Loan.
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Land Mortgages means the mortgages over all of the land, buildings and structures owned by the Company granted to the Secured Creditors as security for the Secured Indebtedness.
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Examples of Land Mortgages in a sentence

  • The Additional Resort Collateral Mortgages and modifications to the Land Mortgages shall have been duly recorded in the applicable land records for each state in which the Land and the Additional Resort Collateral is located.

  • To further secure the payment and performance of the Obligations, Borrower shall also execute and deliver Lender: (i) the modifications to the Land Mortgages in the applicable form attached hereto as Exhibit A, granting Lender a first priority mortgage lien on the Land and (ii) the Additional Resort Collateral Mortgages, in the applicable form attached hereto as Exhibit A, granting Lender, a first priority mortgage lien on that portion of the Additional Resort Collateral consisting of real property.

  • Agent shall also have the right, in accordance with the laws of the State in which any Collateral consisting of real property is located, to foreclose the lien of the Land Mortgages and/or the Additional Resort Collateral Mortgages.

  • Borrower shall have executed and delivered to Agent, on or before the date hereof, modifications to the Land Mortgages, each of which shall be in the form attached hereto as Exhibit A, and each of which shall be in recordable form.

  • Borrower shall have executed and delivered to Lender, on or before the date hereof, modifications to the Land Mortgages, each of which shall be in the form attached hereto as Exhibit A, and each of which shall be in recordable form.

  • Subject to the other first lien rights of Heller and Sovereign as provided in the Intercreditor Agreemen▇, ▇▇▇n execution and recording of the modification to the Land Mortgages, as modified, Lender will continue to have a valid first lien on the Land.

  • Lender shall also have the right, in accordance with the laws of the States in which the Land is located, to foreclose the lien of the Land Mortgages.

  • Subject to the other first lien rights of Sovereign as provided in the Intercreditor Agreement, upon execution and recording of the Land Mortgages, Lender will have a valid first lien on the Land.

  • Subject to the other first lien rights of Heller and Sovereign as provided in the Intercreditor Agreement, upon ▇▇▇▇▇tion and recording of the modification to the Land Mortgages, as modified, Lender will continue to have a valid first lien on the Land.

  • The Land Mortgages, the Mortgages and the Modification(s) of Mortgages shall have been duly recorded in the applicable land records for each state in which the Land is located.