Mortgage Addendum definition

Mortgage Addendum means the addendum to the Mortgage in the agreed form.

Split View

AI-Powered Contracts

Draft, Review & Redline at the Speed of AI

Get StartedSchedule a Demo

Mortgage Addendum means, in respect of each Mortgage, a first, second or as the case may be, third addendum thereto, executed or to be executed by the relevant Owner in favour of the Security Trustee in such form as the Facility Agent may approve or require and, in the plural, means all of them; and

Mortgage Addendum means, in respect of each of the Vessels, an addendum to the Mortgage in respect thereof, in such form as the Agent and the Majority Lenders may in their sole discretion require, and in the plural means all of them.

Examples of Mortgage Addendum in a sentence

• The Borrowers represent and warrant to the Agent that the representations and warranties in clause 10 of the Loan Agreement, as amended and restated by this Agreement and updated with appropriate modifications to refer to this Agreement and, where appropriate, the Mortgage Addendum, remain true and not misleading if repeated on the date of this Agreement with reference to the circumstances now existing.

• The Borrowers represent and warrant to the Agent that the representations and warranties in the Existing Finance Documents to which they are a party, as amended and restated by this Agreement and updated with appropriate modifications to refer to this Agreement and, where appropriate, the Mortgage Addendum, remain true and not misleading if repeated on the date of this Agreement with reference to the circumstances now existing.

• With effect on and from the Effective Date the Master Agreement shall be, and shall be deemed by this Agreement to be, amended so that the definition of, and references throughout to, the Loan Facility and the Credit Support Documents shall be construed as if the same referred to the Loan Agreement and those Credit Support Documents as amended and restated or supplemented by this Agreement and the Mortgage Addendum.

• Each Obligor makes the representations and warranties set out in the Finance Documents (other than the Facility Agreement) to which it is a party, as amended and supplemented by this Agreement and updated with appropriate modifications to refer to this Agreement and, where appropriate, the Mortgage Addendum, by reference to the circumstances then existing on the date of this Agreement and on the Effective Date.

• The Borrower represents and warrants to the Creditor Parties that the representations and warranties in clause 10 of the Loan Agreement (other than clause 10.3), as amended by this Agreement and updated with appropriate modifications to refer to this Agreement and, where appropriate, each Mortgage Addendum remain true and not misleading if repeated on the date of this Agreement with reference to the circumstances now existing.

More Definitions of Mortgage Addendum

Mortgage Addendum means, in relation to each Ship (other than a Ship which is owned by a Released Owner), the first addendum to the Mortgage on that Ship, executed or to be executed by the Owner which is the owner of that Ship in favour of the Security Trustee in the Agreed Form and, in the plural, means all of them;

Mortgage Addendum means, in relation to each Ship, any addendum executed or (as the context may require) to be executed between the relevant Owner and the Security Agent or any other Creditor under the Supplemental Agreement or the Second Supplemental Agreement or the Fifth Supplemental Agreement (or any subsequent supplemental agreement) in such form as the Agent (acting in the instructions of the Majority Banks in their sole discretion) may require and being supplemental to the relevant Mortgage and "Mortgage Addenda" means any or all of them;

Mortgage Addendum means, in relation to each Borrower Ship, the first addendum to the First Preferred Mortgage over that Borrower Ship;

Mortgage Addendum means the first addendum to the Mortgage executed or, as the case may be, to be executed, by the Borrower in favour of the Lender in such form as the Lender may reasonably approve or require;”;

Mortgage Addendum means, in the case of each Mortgage in respect of an Existing Ship, the first addendum to that Mortgage and, in the plural, means all of them;

Mortgage Addendum means the ship mortgage addendum entered or to be entered into between the Borrower and the Lender in relation to the Mortgage.

Mortgage Addendum means, in relation to each Existing Ship, an addendum to the Mortgage in respect thereof in agreed form.