Mortgage Release Date definition

Mortgage Release Date means the earlier of the following two dates: (1) the date on which the indebtedness and obligations secured by the Mortgage have been fully paid and performed and the Mortgage has been released of record; or (2) the date on which the Mortgage is foreclosed, or a conveyance by a deed in lieu of foreclosure is effective, and possession of the Property has been given to and accepted by a Person other than Lender or SBA free of occupancy, redemption rights or any other claim by Borrower or guarantors of the Loan.
Sample 1Sample 2Sample 3
Mortgage Release Date means the earlier to occur of (i) the date that the Borrower obtains an Investment Grade rating and (ii) the date upon which the Commitments have been terminated, no Note is outstanding, all Loans have been repaid in full, all Letters of Credit have been terminated and all Indebtedness then due and payable has been paid in full.
Sample 1Sample 2
Mortgage Release Date means the earlier of the following two dates:
Sample 1Sample 2Sample 3

Examples of Mortgage Release Date 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.

  • 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 have been met.


More Definitions of Mortgage Release Date

Mortgage Release Date means the first date on which the Borrower has been in compliance with the Total Leverage Ratio Financial Covenant for two consecutive Test Periods each of which shall have ended following the Covenant Relief Period End Date.
Sample 1
Mortgage Release Date means the date that PXP obtains an Investment Grade Rating.
Sample 1
Mortgage Release Date has the meaning set forth in Section 2.6.
Sample 1
Mortgage Release Date shall have the meaning provided in Section 13.20.
Sample 1

Related to Mortgage Release Date

  • Collateral Release Date shall have the meaning provided in Section 10.15(d).

  • Escrow Release Date has the meaning set forth in Section 9.6.

  • Restriction Release Date means such date, after the Effective Date, that the Board of Directors determines in good faith that it is in the best interests of the Corporation and its stockholders for the transfer restrictions set forth in this Article 4 to terminate.

  • Release Date means the date on which the Initial Shares are disbursed from escrow pursuant to Section 3 of that certain Stock Escrow Agreement dated as of the date hereof by and among the Investors and Continental Stock Transfer & Trust Company.

  • Collateral Release Period means each period commencing with the occurrence of a Collateral Release Event and continuing until the occurrence of the next Collateral Reinstatement Event, if any, immediately following such Collateral Release Event.

  • Escrow Release Conditions has the meaning set forth in the Escrow Agreement.

  • Lease Date means the later date upon which this Lease is signed by Landlord and Tenant.

  • Maintenance Release means any update, upgrade, release or other adaptation or modification of the Software, including any updated Documentation, that Contractor may generally provide to its licensees from time to time during the Term, which may contain, among other things, error corrections, enhancements, improvements or other changes to the user interface, functionality, compatibility, capabilities, performance, efficiency or quality of the Software.

  • Lease Termination Date means the last day of the Lease Term.

  • Pre-Release shall have the meaning set forth in Section 2.09.

  • Existing Mortgage has the meaning specified in Section 5.02(a)(vi).

  • Release Deadline means the deadline prescribed by Employer for the execution of the general release described in this paragraph (d)(2) of Section 7, which deadline shall in no event be later than 60 days following the date Executive’s employment terminates;

  • Loan Termination Date means the earliest to occur of the following: (i) as to the REVOLVING NOTES, November 1, 2012, as to the TERM NOTES, October 31, 2016, (ii) the date the OBLIGATIONS are accelerated pursuant to this AGREEMENT, and (iii) the date ADMINISTRATIVE AGENT has received (a) notice in writing from BORROWER of BORROWER’s election to terminate this AGREEMENT and (b) indefeasible payment in full of the OBLIGATIONS.

  • Mortgage Amendment means an amendment to an Existing Mortgage or an amendment and restatement of an Existing Mortgage, in each case in form and substance reasonably acceptable to the Collateral Agent.

  • First Remittance Date With respect to each Mortgage Loan Package, the 18th day (or if such 18th day is not a Business Day, the first Business Day immediately preceding such 18th day) of the calendar month immediately following the Closing Date; provided, however, if the Servicing Transfer Date is not one (1) or more Business Days prior to the first day of such calendar month, such date will be the 18th day (or if such 18th day is not a Business Day, the first Business Day immediately preceding such 18th day) of the next succeeding calendar month.

  • Loan Closing Date means the date upon which the Loan is made to the Company.

  • Opt-Out Date means the date by which Settlement Class Members must mail their requests to be excluded from the Settlement Class for that request to be effective. The postmark date shall constitute evidence of the date of mailing for these purposes.

  • Closing Date Mortgaged Property as defined in Section 3.1(i).

  • Loan Commencement Date means, with respect to each Loan, the first Business Day of the calendar month following the Funding Date of such Loan.

  • Scheduled Completion Date shall be the date set forth in Clause 10.3;

  • Release Amount has the meaning set forth in Section 4.3(f).

  • Increased Facility Closing Date any Business Day designated as such in an Increased Facility Activation Notice.

  • Property Condition Report means a report prepared by a company satisfactory to Lender regarding the physical condition of the Property, satisfactory in form and substance to Lender in its sole discretion.

  • Purchase Termination Date means the date upon which the Transferor shall cease, for any reason whatsoever, to make purchases of Receivables from the Seller under the Receivables Purchase Agreement or the Receivables Purchase Agreement shall terminate for any reason whatsoever.

  • Pre-Release Transaction shall have the meaning set forth in Section 5.10.

  • Park Monaco Mortgage Loans The Mortgage Loans identified as such on the Mortgage Loan Schedule for which Park Monaco is the applicable Seller.