Mort definition
Examples of Mort in a sentence
The Sec- retary shall publish in the FEDERAL REGISTER the disposition of any case referred by the Secretary to the Mort- gagee Review Board.
If any substantial part of the Mortgaged Property is leased by the Mort- gagor to any other party, the lease agree- ment between the Mortgagor and the lessee shall obligate the lessee to comply with the provisions of subsections (a) and (b) of this Section in respect of the leased facilities and to permit the Mortgagor to operate the leased facilities in the event of any failure by the lessee to so comply.
Upon any consolidation or merger or any conveyance or transfer of the Mortgaged Property substantially as an entirety in ac- cordance with this subsection, the successor entity formed by such consolidation or with which the Mortgagor is merged or to which such conveyance or transfer is made shall succeed to, and be substituted for, and may exercise every right and power of, the Mort- gagor under this Mortgage with the same ef- fect as if such successor entity had been named as the Mortgagor herein.
Upon request of any Mortgagee, the Mort- gagor will furnish to such Mortgagee single copies of such Loan Agreements and amend- ments thereto as such Mortgagee may re- quest.
The Mortgagor will send promptly to each Mortgagee notice of any default by the Mort- gagor under any Loan Agreement and notice of any amendment to any Loan Agreement.
The Mort- gagor covenants that it will give immediate written notice to each Mortgagee of the oc- ▇▇▇▇▇▇▇▇ of any Event of Default or in the event that any right or remedy described in Sections [4.02] and [4.03] hereof is exercised or enforced or any action is taken to exercise or enforce any such right or remedy.
In the case of any prior approval rights conferred upon RUS by Federal statutes, in- cluding (without limitation) Section 7 of the Rural Electrification Act of 1936, as amend- ed, with respect to the sale or disposition of property, rights, or franchises of the Mort- gagor, all such statutory rights are reserved except to the extent that they are expressly modified or waived in this Mortgage.
Interest Expense shall mean an amount con- stituting the interest expense of the Mort- gagor as computed pursuant to Accounting Requirements.
Except to secure Ad- ditional Notes, the Mortgagor will not, with- out the prior written consent of each Mort- gagee, create or incur or suffer or permit to be created or incurred or to exist any Lien, charge, assignment, pledge, mortgage on any of the Mortgaged Property inferior to, prior to, or on a parity with the Lien of this ▇▇▇▇- ▇▇▇▇ except for the Permitted Encum- brances.
The Mort- gages or instruments related thereto shall be duly recorded or filed in such manner and in such places as are required by law to establish, per- fect, preserve and protect the Liens in favor of the Administrative Agent required to be granted pursuant to the Mortgages.