Mortgage Policy definition

Mortgage Policy has the meaning specified in Section 4.01(a)(iv)(B).

Mortgage Policy has the meaning specified therefor in Schedule 3.1(v).

Mortgage Policy means, with respect to any Mortgage Instrument, an ALTA mortgagee title insurance policy issued by a title insurance company (the “Title Insurance Company”) selected by the Administrative Agent in an amount satisfactory to the Administrative Agent, in form and substance satisfactory to the Administrative Agent.

Examples of Mortgage Policy in a sentence

• The ALTA Residential Limited Coverage Mortgage Policy may be issued in connection with a modification of a mortgage by an institutional lender covering one-to-four residential real property or condominiums.

• When the same Company issues separate Loan Policies (including Construction Mortgage Policies) Simultaneously insuring a Primary Mortgage and a Collateral Mortgage, the Loan Policy insuring the Collateral Mortgage and the Loan Policy or Construction Mortgage Policy insuring the Primary Mortgage each shall contain the following: This Policy is issued Simultaneously with and in connection with Policy No(s).

• No additional premium shall be charged by the same Company for a Loan Policy insuring one or more Collateral Mortgages issued Simultaneously with the Loan Policy or Construction Mortgage Policy insuring a Primary Mortgage when the Collateral Mortgages secure no additional indebtedness or obligation.

• In the event that the Purchaser secures a new mortgage it is agreed and understood that the Mortgage Policy will also be issued by MICHIGAN TITLE INSURANCE AGENCY, INC.

• When a Construction Loan is secured by a series of Construction Mortgages which are not to be recorded Simultaneously, and the Construction Mortgage Policy insures the aggregate amount of said mortgages, the premium shall be calculated on the aggregate amount of the Construction Mortgages.

More Definitions of Mortgage Policy

Mortgage Policy has the meaning specified in Section 6.12(b).

Mortgage Policy means a fully paid American Land Title Association Lender’s Extended Coverage title insurance policy with endorsements and in an amount acceptable to the Administrative Agent and Collateral Agent, issued, coinsured and reinsured by title insurers acceptable to the Administrative Agent and Collateral Agent, insuring the Mortgage in question to be valid first and subsisting Lien on the property described therein, free and clear of all defects (including, but not limited to, filed mechanics’ and materialmen’s Liens) and encumbrances, excepting only Liens permitted under the Loan Documents, and providing for such other affirmative insurance and such coinsurance and direct access reinsurance as the Administrative Agent and Collateral Agent may deem necessary or desirable.

Mortgage Policy means a mortgage title insurance policy or a binding commitment with respect thereto.

Mortgage Policy means each mortgage title insurance policy (and all endorsements thereto) for each Mortgaged Property required to be delivered pursuant to this Agreement.

Mortgage Policy means a lender’s title insurance policy (Form 2006).

Mortgage Policy means a Lender’s title insurance policy (Form 1992).

Mortgage Policy has the meaning assigned to such term in the definition of “Collateral and Guarantee Requirement”.