Mortgage Facility definition

Mortgage Facility means means Indebtedness secured solely by Liens consisting of mortgages, deeds of trust, or other deeds on real property owned or leased by the Company or any of its Subsidiaries where the principal amount of such Indebtedness does not exceed the fair market value of such real property at the time such Mortgage Facility is entered into and such Indebtedness is either (x) non-recourse to the Company or any Guarantor or (y) is not a “security” within the meaning of Section 2(a)(1) of the Securities Act.

Mortgage Facility means Indebtedness secured solely by Liens consisting of mortgages, deeds of trust, or other deeds on real property owned or leased by the Company or any of its Subsidiaries where the principal amount of such Indebtedness does not exceed the Fair Market Value of such real property at the time such Mortgage Facility is entered into and such Indebtedness is non-recourse to the Company or any Guarantor.

Mortgage Facility any facility entered into by the Borrower or any Subsidiary the proceeds of which are secured by the Mortgage Facility Properties.

Examples of Mortgage Facility in a sentence

• To the extent that any funds remain in the Administrative/Priority Claims Reserve after the final resolution of all Administrative Expense Claims or Priority Claims that are Disputed Claims (and all such Disputed Claims that are subsequently Allowed are fully satisfied in accordance with the terms of the Plan), such funds shall be paid to the holder of the Mortgage Facility Claim, for distribution to holders of Mortgage Certificates in accordance with Section 6.3 of the Plan.

• As of the Effective Date, all notes and any obligations of the Debtors under the Mortgage Facility or the Mezzanine Facilities shall be discharged and be of no further force or effect against the Debtors or the Mortgage Properties, and the holders thereof shall have no rights against the Debtors or the Mortgage Properties, except the right to receive the Distributions provided herein.

• Interest shall neither accrue nor be payable from and after the Commencement Date with respect to the Allowed Mortgage Facility Claim.

• The Cash Distribution shall be distributed by the Plan Administrator to the holder of the Allowed Mortgage Facility Claim on the Effective Date in accordance with Section 8.2 which shall then distribute the Cash Distribution to the holders of Mortgage Certificates in accordance with the priority set forth in the Trust and Servicing Agreement.

• The Investor Certificates shall be distributed by the Plan Administrator to the holder of the Allowed Mortgage Facility Claim on the Effective Date in accordance with Section 8.2, which shall then cancel the Investor Certificates in accordance with the provisions of the Trust and Servicing Agreement without any Distribution to be made on account of such Investor Certificates.

• CHIQUIER, L., 1998, “Secondary Mortgage Facility Case Study of Cagamas Berhad in Malaysia”, Study for the World Bank (Capital Market Development Department), unpublished.

• Except as expressly provided herein or in the Litigation Trust Agreement including Exhibit A thereto setting forth the priority of distributions from the Litigation Trust Agreement, nothing herein or in the Litigation Trust Agreement affects the rights and obligations of the Mortgage Facility Trust or holders of Mezzanine Facilities Claims under the Intercreditor Agreement, including, without limitation, provisions pertaining to Guaranty Claims.

• You have, read and understood our Customer Terms, Mortgage Facility Terms, Credit Card Terms, Current/ Cheque/ Savings Account and Time Deposit Terms and Personal Loan/ Personal Line of Credit/ Overdraft Terms forming our banking agreement which are available upon request and You agree to be bound by them for the use of any product we may provide You with.

• If your application is approved, we will issueyou an Offer Letter, which will contain the final terms of your Mortgage Facility.

• Unless the Person receiving a payment agrees otherwise, any payment in Cash to be made by the Plan Administrator, or NewCo or the Reorganized Debtors shall be made, at the election of the Plan Administrator, or NewCo or the Reorganized Debtors (as the case may be), by check drawn on a domestic bank or by wire transfer from a domestic bank, provided that payments to the holder of the Allowed Mortgage Facility Claim shall be paid by wire transfer.

More Definitions of Mortgage Facility

Mortgage Facility any facility entered into by the Borrower or any Subsidiary the proceeds of which are secured by real properties described in such Facility (such real properties, the “Mortgage Facility Properties”).

Mortgage Facility means each mortgage loan the Bank makes available under these terms as stated in the Facility Letter.

Mortgage Facility means any credit facilities secured by real property of the Issuer or its Restricted Subsidiaries, including any guarantees, collateral documents, instruments and agreements executed in connection therewith, and any amendments, supplements, modifications, extensions, renewals, restatements, refundings or refinancings thereof.

Mortgage Facility means the senior secured mortgage term loan facility described in Section 2.03(a) providing for Mortgage Loans to the applicable Borrowers by the Lenders, as such facility may be increased pursuant to a Facility Increase.

Mortgage Facility the Term Loan Agreement, dated as of May 20, 2005, by and among the Borrower, National MENTOR Inc., certain Subsidiaries party thereto as borrowers and Bank of America, N.A.

Mortgage Facility means the Master Loan Agreement between Toyota Motor Credit Corporation and Sonic Automotive, Inc., dated December 31, 2002, and as such agreement, in whole or in part, may have been or may be further amended, renewed, extended, substituted, refinanced, restructured, replaced, supplemented or otherwise modified from time to time, including, without limitation, any successive renewals, extensions, substitutions, refinancings, restructurings, replacements, supplementations or other modifications of the foregoing.