Mortgage Loan Facility definition
Mortgage Loan Facility means the senior secured mortgage term loan facility described in Section 2.06A providing for Mortgage Loans to the Mortgage Loan Borrower by the Mortgage Loan Lenders.
Mortgage Loan Facility means each of those certain Loan Agreements, dated as of March 6, 2006, by and among Bonstores Realty One, LLC and Bank of America, N.A., as lender, and Bonstores Realty Two, LLC, and Bank of America, N.A., as lender, including any related notes, guarantees, collateral documents, instruments and agreements executed in connection therewith, as amended on May 4, 2006 and as the same may be further amended, restated, modified, renewed, refunded, replaced or refinanced from time to time, regardless of whether such amendment, restatement, modification, renewal, refunding, replacement or refinancing is with the same financial institutions or otherwise.
Mortgage Loan Facility means a mortgage loan facility provided by the Bank to, inter alia, the Borrower(s) and which is specified by the Participants in the Application Form and approved by the Bank to be linked to the MortgageOne Optimizer Banking Arrangement in the manner specified in the Application Form, and “Mortgage Loan Facilities” means all of them;
Examples of Mortgage Loan Facility in a sentence
In no event shall the outstanding principal balance of the Additional Advances and the outstanding principal balance of the Mortgage Loan Facility exceed, at any time, the sum of Fifteen Million Dollars ($15,000,000) and in the event such limitation is exceeded, Borrower shall immediately make a payment to FINOVA in an amount equal to such excess together with interest thereon.
The Additional Advances shall reduce, dollar for dollar, the amount of borrowing availability under the Mortgage Loan Facility.
The failure by Seller to cure a Margin Deficit when due; or (r) an Event of Default (as such term is defined in the Mortgage Loan Repurchase Agreement) has occurred and is continuing under the Mortgage Loan Facility.
The Advances made under the Mortgage Loan Facility with respect to Ida ▇▇▇l▇▇▇▇ ▇▇▇, ▇▇▇ ▇▇▇▇▇▇▇▇ ▇▇▇, Ida ▇▇▇lding Addition, Winn▇▇▇ ▇▇▇lding Addition, Towers and the Second Winn▇▇▇ ▇▇▇lding Addition shall continue to be evidenced by the Ida ▇▇▇lding One Note, the Ida ▇▇▇lding Two Note, the Ida ▇▇▇lding Addition Note, the Winn▇▇▇ ▇▇▇lding Addition Note, the Towers Note and the Second Winn▇▇▇ ▇▇▇lding Addition Note, respectively.
The Aloha Bay Phase I Renovation Advances shall not be included in the Mortgage Loan Facility or be deemed to be Advances under the Mortgage Loan Facility.
More Definitions of Mortgage Loan Facility
Mortgage Loan Facility means each of those certain Loan Agreements, dated as of the Issue Date, by and among Bonstores Realty One, LLC and Bank of America, N.A., as lender, and Bonstores Realty Two, LLC, and Bank of America, N.A., as lender, including any related notes, guarantees, collateral documents, instruments and agreements executed in connection therewith and as the same may be amended, restated, modified, renewed, refunded, replaced or refinanced from time to time, regardless of whether such amendment, restatement, modification, renewal, refunding, replacement or refinancing is with the same financial institutions or otherwise.
Mortgage Loan Facility means at any time (a) during the Construction Loan Period, (i) the aggregate amount of undrawn Mortgage Loan Commitments at such time. plus (ii) the aggregate principal amount of the Mortgage Loans of all Lenders advanced and outstanding at such time, and (b) upon and after the expiration of the Construction Loan Period, and upon the Mortgage Loan Commitments having been fully drawn, the aggregate principal amount of the Mortgage Loans of all Lenders outstanding at such time,
Mortgage Loan Facility means the Mortgage Loan Repurchase Agreement and any documents related thereto. “Mortgage Loan Facility Buyer” shall mean GRAND OAK TRUST, a Delaware statutory trust (together with its permitted successors and assigns), in its capacity as “Buyer” under the Mortgage Loan Repurchase Agreement. “Mortgage Loan Repurchase Agreement” shall mean that certain Amended and Restated Master Repurchase Agreement, dated as of February 28, 2023 (as amended, restated, supplemented or otherwise modified and in effect from time to time), between the Mortgage Loan Facility Buyer, and FINANCE OF AMERICA REVERSE LLC, a Delaware limited liability company (together with its permitted successors and assigns), in its capacity as “Seller” thereunder. Agreement.
Mortgage Loan Facility means that portion of the Loan not to exceed $12,000,000 under which Advances may be made to Borrower on a revolving basis in order to finance Borrower's acquisition and refurbishment of time-share resorts. The Advances made under the Mortgage Loan Facility include the First Suites Phase II Loan Advance, the Second Suites Phase II Loan Advance, the Ida Building One Acquisition Advance, the Ida ▇▇▇lding Two Acquisition Advance, the Winn▇▇▇ ▇▇▇lding Addition Acquisition Advance, the Winn▇▇▇ ▇▇▇lding Addition Renovation Advances, the Ida ▇▇▇lding Addition Acquisition Advance, the Ida ▇▇▇lding Addition Renovation Advances, the Towers Advances and any other Advances made by Lender to Borrower after the date of the Thirteenth Amendment to finance Borrower's acquisition and refurbishment of time-share resorts, exclusive of the following Advances which are not included within the Mortgage Loan Facility: the Receivables Over-Advances as provided for in the Tenth Amendment, the Aloha Bay Phase I Acquisition Advance, Aloha Bay Phase I Renovation Advances, the Aloha Bay Phase II Acquisition Advance, Aloha Bay Phase II Construction Advances, and the Advances evidenced by the 2.5 MM Note.
Mortgage Loan Facility means that portion of the Loan not to exceed $15,000,000.00 under which Advances may be made to Borrower on a revolving basis in order to finance Borrower's acquisition and refurbishment of time-share resort facilities. The Advances outstanding under the Mortgage Loan Facility as of the Closing Date include the Advances of the Loan evidenced by the Ida ▇▇▇lding One Note, the Ida ▇▇▇lding Two Note, the Ida ▇▇▇lding Addition Note, the Winn▇▇▇ ▇▇▇lding Addition Note, the Second Winn▇▇▇ ▇▇▇lding Addition Note (to the extent that any Advances are made under the Second Winn▇▇▇ ▇▇▇lding Addition Note as of the Closing Date) and the Towers Note, but do not include the amounts outstanding under the Aloha Bay Note and the Office Note.
Mortgage Loan Facility means the Mortgage Loan Repurchase Agreement and any documents related thereto. “Mortgage Loan Facility Buyer” shall mean GRAND OAK TRUST, a Delaware statutory trust (together with its permitted successors and assigns), in its capacity as “Buyer” under the Mortgage Loan Repurchase Agreement. “Mortgage Loan Repurchase Agreement” shall mean that certain Amended and Restated Master Repurchase Agreement, dated as of February 28, 2023 (as amended, restated, supplemented or otherwise modified and in effect from time to time), between the Mortgage Loan Facility Buyer, and FINANCE OF AMERICA REVERSE LLC, a Delaware limited liability company (together with its permitted successors and assigns), in its capacity as “Seller” thereunder. “Non-Excluded Taxes” shall have the meaning set forth in Section 7(a) of this Agreement. “Non-Exempt Buyer” shall have the meaning set forth in Section 7(e) of this Agreement. “Nondefaulting Party” shall have the meaning set forth in Section 30 of this Agreement. “Obligations” shall mean (a) any amounts owed by Seller to Buyer in connection with a Transaction hereunder, together with interest thereon (including interest which would be payable as post-petition interest in connection with any bankruptcy or similar proceeding) and all other fees or Expenses which are payable hereunder or under any of the Program Documents; (b)
Mortgage Loan Facility means, the credit facility evidenced by the Mortgage Loan Commitment.