Mortgage Release Event definition

Mortgage Release Event means, on any date of determination, as applicable, that:
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Mortgage Release Event means the date of which each of the following shall have occurred: (a) no Event of Default shall exist and (b) the date on which Availability has been more than the greater of (i) $50,000,000 and (b) 15% of the Maximum Credit Amount, in either case, for a period of ninety (90) consecutive days.
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Mortgage Release Event means that (x) the action giving rise to the Mortgage Trigger Event has been dismissed with prejudice, has been litigated to a final judgment which has been paid in full or has been settled for a settlement amount that has been paid in full, and (y) no Default or Event of Default shall exist or shall result therefrom or from any payment made in connection therewith.
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Examples of Mortgage Release Event in a sentence

  • To the extent that the Borrower demonstrates to the Administrative Agent, by delivery of a certificate of a Responsible Officer of the Borrower that a Mortgage Release Event has occurred, then the Administrative Agent shall promptly release any Mortgages (at the expense of the Borrower and without recourse or warranty to the Secured Parties) on Mortgaged Properties.

Related to Mortgage Release Event

  • Release Event has the meaning set forth in Section 6(b).

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

  • 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.

  • Lease Event of Default shall have the meaning specified in Section 17.1 of the Lease.

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

  • 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.

  • Mortgage Loan Event of Default means an “Event of Default” as defined in the Mortgage Loan Agreement.

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

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

  • 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.

  • Insurance Agreement Event of Default means an "Event of Default" as defined in the Insurance Agreement.

  • Modification Default Loss means the loss calculated in Exhibits 2a(1)-(3) for single family loans previously modified pursuant to this Single Family Shared-Loss Agreement that subsequently default and result in a foreclosure, short sale or Deficient Loss.

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

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

  • 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.

  • Master Servicer Event of Default wherever used herein, means any one of the following events:

  • Bond Event of Default means the occurrence of any of the following (or such event or condition which with notice or lapse of time or both would constitute any of the following):

  • 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.

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

  • Release Property has the meaning set forth in Section 2.5.

  • Commercial Operation Date (COD) means the date certified by the DISCOM’s committee upon successful commissioning (as per provisions of the PPA) of the project when all equipments as per rated capacity have been installed and energy has flown into the grid.

  • Release Effective Date means the date the Release becomes effective and irrevocable.

  • Forbearance Termination Date means the earlier to occur of (i) the closing of a Transaction; (ii) October 31, 2001, or (iii) the date upon which the Forbearance Default occurs.