Mortgage Borrower Operating Agreement definition

Mortgage Borrower Operating Agreement shall individually and collectively, as the context may require, mean each Owner Operating Agreement and the Operating Lessee Operating Agreement.
Sample 1Sample 2Sample 3
Mortgage Borrower Operating Agreement means the limited liability company agreement of Mortgage Borrower, as the same may be amended from time to time to the extent permitted under the Mortgage Loan Agreement and this Agreement.
Sample 1Sample 2Sample 3
Mortgage Borrower Operating Agreement shall have the meaning set forth in Section 4.1 hereof.
Sample 1

Examples of Mortgage Borrower Operating Agreement in a sentence

  • Pledgor has delivered to Lender true and correct copies of the Mortgage Borrower Operating Agreement and all other Organizational Documents for the Mortgage Borrower, Mortgage Principal, Pledgor and Principal, all of which are in full force and effect.

  • Pledgor has delivered to Lender true and correct copies of the Mortgage Borrower Operating Agreement and all other Organizational Documents for the Mortgage Borrower, Mortgage Principal, Mezzanine A Borrower, Mezzanine A Principal, Mezzanine B Borrower, Mezzanine B Principal, Mezzanine C Borrower, Mezzanine C Principal, Mezzanine D Borrower, Mezzanine D Principal, Pledgor and Principal, all of which are in full force and effect.

  • Borrower has delivered to Lender true and correct copies of the Mortgage Borrower Operating Agreement and all other Organizational Documents for the Mortgage Borrower, Borrower and Principal, all of which are in full force and effect.

  • Other than the Loan Documents and the Mortgage Borrower Operating Agreement, neither Borrower nor any of its assets shall be subject to any Contractual Obligations that would have a Material Adverse Effect, and Borrower shall not enter into any agreement, instrument or undertaking by which it or its assets are bound, except for such liabilities, that are incidental to its activities as a regular member of Mortgage Borrower and that will not have a Material Adverse Effect.

  • Lender shall have the right, but shall not have the obligation, to exercise Borrower’s rights under the Mortgage Borrower Operating Agreement (a) to cure a Mortgage Loan Default or Mortgage Loan Event of Default and (b) to satisfy any Liens, claims or judgments against the Properties (except for Liens permitted by the Mortgage Loan Documents), in the case of either (a) or (b), unless Borrower or Mortgage Borrower shall be diligently pursuing remedies to cure to Lender’s sole satisfaction.

  • Pledgor has delivered to Lender true and correct copies of the Mortgage Borrower Operating Agreement and all other Organizational Documents for the Mortgage Borrower, Mortgage Principal, Mezzanine A Borrower, Mezzanine A Principal, Pledgor and Principal, all of which are in full force and effect.

  • Pledgor has delivered to Lender true and correct copies of the Mortgage Borrower Operating Agreement and all other Organizational Documents for the Mortgage Borrower, Mortgage Principal, Mezzanine A Borrower, Mezzanine A Principal, Mezzanine B Borrower, Mezzanine B Principal, Mezzanine D Borrower, Mezzanine D Principal, Mezzanine E Borrower, Mezzanine E Principal, Pledgor and Principal, all of which are in full force and effect.

  • Pledgor has delivered to Lender true and correct copies of the Mortgage Borrower Operating Agreement and all other Organizational Documents for the Mortgage Borrower, Mortgage Principal, Mezzanine A Borrower, Mezzanine A Principal, Mezzanine B Borrower, Mezzanine B Principal, Mezzanine C Borrower, Mezzanine C Principal, Mezzanine E Borrower, Mezzanine E Principal, Pledgor and Principal, all of which are in full force and effect.


More Definitions of Mortgage Borrower Operating Agreement

Mortgage Borrower Operating Agreement means, collectively, (a) the Agreement of Limited Partnership of Mortgage Borrower 1, dated December 5, 2002, between Mezz Borrower 1, as limited partner and Mortgage Borrower 1 Principal, as general partner, (b) the Limited Liability Company Agreement of Mortgage Borrower 2A, dated December 5, 2002, by Mezz Borrower 2, as the sole equity member, and WHP Springing Member-1, Inc., a Delaware corporation, as the springing member, and (c) the Limited Liability Company Agreement of Mortgage Borrower 2B, dated December 5, 2002, by Mezz Borrower 2, as the sole equity member, and WHP Springing Member-2, Inc., a Delaware corporation, as the springing member.
Sample 1
Mortgage Borrower Operating Agreement means, collectively, (a) the Agreement of Limited Partnership of Mortgage Borrower 1, dated December 5, 2002, between Mezz Borrower 1, as limited partner, and Mortgage Borrower 1 Principal, as general partner, (b) the Limited Liability Company Agreement of Mortgage Borrower 2A, dated December 5, 2002, by Mezz Borrower 2, as the sole member, and Springing Member 2, as the springing member, and (c) the Limited Liability Company Agreement of Mortgage Borrower 2B, dated December 5, 2002, by Mezz Borrower 2, as the sole member, and Springing Member 2, as the springing member.
Sample 1

Related to Mortgage Borrower Operating Agreement

  • Mortgage Borrower shall have the meaning set forth in the Recitals to this Agreement.

  • Operating Lessee means, with respect to a Hotel Property, the Subsidiary of the Parent Guarantor that leases such Hotel Property from a Subsidiary of the Parent Guarantor that is the owner or ground lessee of such Hotel Property.

  • Property Management Agreement means any Property Management Agreement between the Company and the Property Manager.

  • Operating Lease of a Person means any lease of Property (other than a Capitalized Lease) by such Person as lessee which has an original term (including any required renewals and any renewals effective at the option of the lessor) of one year or more.

  • Master Tenant means any entity approved by HUD now or hereafter leasing the Healthcare Facility pursuant to a Master Lease.

  • Borrower LLC Agreement means the Limited Liability Company Operating Agreement of the Borrower, dated as of June 23, 2011.

  • Borrower Partnership Agreement means the Limited Partnership Agreement of the Borrower dated as of January 17, 2014 as such agreement may be amended, restated, modified or supplemented from time to time with the consent of the Administrative Agent or as permitted under Section 10.10.

  • Property Owner means any person shown as the owner of land on the last equalized assessment roll or otherwise known to be the owner of land by the city council. “Business owner” means any person recognized by the city as the owner of the business. “Owner” means either a business owner or a property owner. The city council has no obligation to obtain other information as to the ownership of land or businesses, and its determination of ownership shall be final and conclusive for the purposes of this part. Wherever this part requires the signature of the property owner, the signature of the authorized agent of the property owner shall be sufficient. Wherever this part requires the signature of the business owner, the signature of the authorized agent of the business owner shall be sufficient.

  • Mezzanine Loan Agreement means that certain Mezzanine Loan Agreement, dated as of the date hereof, between Mezzanine Borrower and Mezzanine Lender, as the same may be amended, restated, replaced, supplemented or otherwise modified from time to time.

  • Mezzanine Borrower shall have the meaning set forth in Section 11.6 hereof.

  • PJM Operating Agreement means the Amended and Restated Operating Agreement of PJM or the successor, superseding or amended versions of the Amended and Restated Operating Agreement that may take effect from time to time.

  • Management Agreement means the agreement to be entered into between the Borrower and the Manager providing for the ship management and crewing services of the Vessel, such agreement to be in the form and on the terms and conditions required by the Agent;

  • Property Owners association" or "association" means an incorporated or unincorporated entity upon

  • Operating Lease Expense means the sum of all payments and expenses incurred by a Person, under any operating leases during the period of determination, as determined in accordance with GAAP.

  • Financing Lease any lease of property, real or personal, the obligations of the lessee in respect of which are required in accordance with GAAP to be capitalized on a balance sheet of the lessee.

  • Operating Leases means all real or personal property leases under which any Company is bound or obligated as a lessee or sublessee and which, under GAAP, are not required to be capitalized on a balance sheet of such Company; provided that Operating Leases shall not include any such lease under which any Company is also bound as the lessor or sublessor.

  • Collateral Management Agreement The agreement dated as of the Closing Date, between the Issuer and the Collateral Manager relating to the management of the Collateral Obligations and the other Assets by the Collateral Manager on behalf of the Issuer, as amended from time to time in accordance with the terms thereof.

  • Pledged Operating Agreements means all of each Grantor’s rights, powers, and remedies under the limited liability company operating agreements of each of the Pledged Companies that are limited liability companies.

  • Mezzanine Loan Documents means the “Loan Documents” as defined in the Mezzanine Loan Agreement.

  • Property Manager means an entity that has been retained to perform and carry out at one or more of the Properties property-management services, excluding persons, entities or independent contractors retained or hired to perform facility management or other services or tasks at a particular Property, the costs for which are passed through to and ultimately paid by the tenant at such Property.

  • Ground Lease means a lease creating a leasehold estate in real property where the fee owner as the ground lessor conveys for a term or terms of years its entire interest in the land and buildings and other improvements, if any, comprising the premises demised under such lease to the ground lessee (who may, in certain circumstances, own the building and improvements on the land), subject to the reversionary interest of the ground lessor as fee owner. With respect to any Mortgage Loan where the Mortgage Loan is secured by a Ground Leasehold estate in whole or in part, and the related Mortgage does not also encumber the related lessor’s fee interest in such Mortgaged Property, based upon the terms of the Ground Lease and any estoppel or other agreement received from the ground lessor in favor of Mortgage Loan Seller, its successors and assigns (collectively, the “Ground Lease and Related Documents”), Mortgage Loan Seller represents and warrants that:

  • Property Owner Association Property means, for each Fiscal Year, any property within the boundaries of IA No. 2 that was owned by a property owner association, including any master or sub-association, as of January 1 of the prior Fiscal Year.

  • Hotel Management Agreement means any hotel management agreement relating to the management and operation of the Real Property together with all supplements, amendments and modifications thereto.

  • Sub-Lessee means a lease/license by a Lessee of part or all of leased space to another person.

  • Condominium Documents means the master deed, recorded pursuant to this act, and any other instrument referred to in the master deed or bylaws which affects the rights and obligations of a co-owner in the condominium.

  • Title V operating permit means a permit issued under Chapter 3745-77 of the Administrative Code.