Mortgage Release definition
Examples of Mortgage Release in a sentence
Indemnitors' responsibility for Remediation under this Agreement shall continue until the earlier of: (1) the Mortgage Release Date; or (2) the responsible Governmental Entity issues a No Further Action Letter or equivalent written assurance that the applicable, relevant and appropriate requirements and standards in the Environmental Laws ARARs have been met.
Prior to the Mortgage Release Date, Indemnitors shall not record or cause to be recorded any document containing a provision that could enable any Person to control the use or ownership of the Property, such as a purchase option; repurchase option; or restrictive covenant such as one that limits the brand of fuel that can be sold on the Property.
Each shall have received executed copies, or sets of executed counterparts, of (x) the Notice of Closing, and (y) each Transaction Document (other than the Tax Indemnification Agreement), the Mortgage Release, each Financing Document being executed on the Closing Date and such other documents as are contemplated by this Participation Agreement.
The Borrower and each Special Purpose Entity will not enter into, modify, amend, alter, terminate or cancel any Major Lease for a Mortgaged Property, or assign, transfer, pledge or encumber any of its right, title or interest under any Lease, without the Agent's prior written consent, which consent will not be unreasonably delayed or withheld or conditioned upon payment of fees, or payment of the Mortgage Release Price for such Mortgaged Property to the Lenders.
Certified translated extract from the register of the Flag State, evidencing the registration of Haewene Brim and the BHB Mortgage and the BHB Mortgage Release Deed in favour of the General Security Trustee.
Notwithstanding anything in this Agreement to the contrary, from and after the Effective Date, Buyer shall be permitted to discuss the assumption of the Existing Mortgage and the Mortgage Release directly with the Mortgage Holder.
It shall be an Event of Default under this Agreement, the Note, the Pledge Agreement and the other Loan Documents if Borrower fails to promptly comply with any of the terms, covenants or conditions of this Section 9.1.2. In no event shall any of the amendments or new loan documents required pursuant to this Section 9.1 modify or amend the definition of Release Amount or Mortgage Release Amount.
The Mortgage Holder shall have agreed to the Mortgage Release on terms that are reasonably acceptable to Sellers.
Additionally, in connection with any voluntary prepayment pursuant to this Section 2.4.1, the Mortgage Loan and each Other Mezzanine Loan shall be simultaneously prepaid ratably, or if such prepayment is in connection with the release of a Release Property in accordance with Section 2.6 hereof, in an amount equal to the Mortgage Release Amount and the Other Mezzanine Release Amount applicable to such Release Property.
The failure of Leasehold Mortgagee to cause the Leasehold Mortgage to be released of record or of Tenant to execute and record a Leasehold Mortgage Release Affidavit within thirty (30) days after demand by Landlord shall constitute a default by Tenant under this Lease.