Mexican Mortgage definition

Mexican Mortgage means that certain first priority Mexican Mortgage (Hipoteca en Primer Lugar y Grado de Prelación) that Sypris Mexico, as mortgagor (deudor hipotecario), creates in favor of the Agent, for its own benefit and on behalf and for the benefit of the Secured Parties (as defined in the Intercreditor Agreement), as mortgagee (acreedor hipotecario), over the Toluca Property.
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Mexican Mortgage means the Mexican law First Priority and Ranking Mortgage (or comparable document), dated on or after the Closing Date, relating to the Mexican Real Property and the Mexican Project, executed and delivered by Core Mexico to secure the Mexican Note, as the same may from time to time be amended, restated or otherwise modified.
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Mexican Mortgage means a mortgage (or equivalent security instrument) of the real estate located in Mexico owned by Mexican Subsidiary.
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Examples of Mexican Mortgage in a sentence

  • Agent shall have received evidence, in form and substance satisfactory to Agent, that (i) the Second Preemptive Notice with respect to the Mexican Mortgage has been filed for registration before the appropriate Public Registry of Property and Commerce, and (ii) the pledge pursuant to each Mexican Stock Pledge Agreement has been duly registered in the members or shareholders registry of Core Mexico.

  • Within fourteen (14) days after the Closing Date, the Borrower shall cause Mexican counsel to the Mexican Subsidiary shall deliver to Lender a legal opinion regarding due authority of the Mexican Subsidiary to execute and deliver the Mexican Guaranty, Mexican Security Agreement and Mexican Mortgage, in a form reasonably acceptable to the Lender in the Lender’s sole and absolute discretion.

  • Companies, at their expense, shall have prior thereto furnished Bank with customary title insurance or other assurance of title, survey and other documentation required to file the Mexican Mortgage, in each case in form and substance satisfactory to Bank.

  • Within 120 days following the Closing Date, the Mexican Mortgage shall have been duly executed and delivered by Lakeland US and Lakeland Mexico and recorded in the appropriate recording office, and evidence of said recording shall have been delivered to Lender.

  • Additionally the Mexican Subsidiary will execute a guaranty agreement (the “Mexican Guaranty”), which will be unlimited in amount, unconditional and will be secured by a pledge of all assets owned by the Mexican Subsidiary and the Mexican Mortgage.

  • Except for the filing of UCC-1/Financing Statements and Mexican Mortgage as noted herein, no approval, consent or authorization of, or filing or registration with, any governmental commission, bureau or other regulatory authority or agency is required with respect to the execution, delivery or performance of any Loan Document.


More Definitions of Mexican Mortgage

Mexican Mortgage means a mortgage and Lien, under and pursuant to the laws of Tamaulipas, Mexico, which creates and grants the Lender a first priority security interest in the Mexican Property.
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Mexican Mortgage means a mortgage, deed of trust or similar instrument effective under the laws of Mexico to create a lien upon and security interest in favor of Lender in all right, title and interest of Lakeland Mexico in the real property known as [Address].
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