Mortgage Value means, with respect to any parcel of Real Property, the lesser of (a) the Equivalent in Dollars of the maximum stated amount secured by the Lien on such parcel of Real Property granted in favor of the Collateral Agent pursuant to the relevant Mortgage and (b) the Equivalent in Dollars of the value of such parcel of Real Property set forth in the most recent appraisal delivered with respect thereto to the Designated Administrative Agent.
Mortgage Value means, with respect to any parcel of Eligible Real Property, the lesser of (a) the maximum stated amount secured by the Lien on such parcel of Eligible Real Property granted in favor of the applicable secured mortgagee pursuant to the relevant Mortgage and (b) the value of such parcel of Eligible Real Property set forth in the Final Appraisal delivered with respect thereto.
Mortgage Value means, as of any date of calculation, with respect to each Certificate and each Whole Loan, an amount as defined in the Acquisition and Operating Policy (taking into account Supplemental Mortgage Coverage), provided that in no event shall the Mortgage Value of any Certificate or Whole Loan be an amount in excess of its outstanding principal balance.
Examples of Mortgage Value in a sentence
Each Collateral Mortgage Property shall secure a principal sum not to exceed the Collateral Mortgage Value of such property.
The Collateral Mortgage Properties must at all times have an aggregate Collateral Mortgage Value equal to 150% of the indebtedness evidenced by the Note (“Collateral Mortgage Loan to Value Ratio”).
Do you have a mortgage on the property?YESNO First Mortgage Value: $ Second Mortgage Value: $ 4.
See also Todd Mason, Lenders Cringe As Judges Chop Mortgage Value, WALL ST.
The following three funds had the greatest negative impact on G II’s performance: Angelo Gordon Mortgage Value Partners funds, Medalist Partners Harvest funds, and Axonic Credit Opportunities funds.
More Definitions of Mortgage Value
Mortgage Value with respect to any parcel of Eligible Real Property, the lesser of (a) the Dollar Equivalent of the maximum stated amount secured by the Lien on such parcel of Eligible Real Property granted in favor of the Collateral Agent pursuant to the relevant Mortgage and (b) the Dollar Equivalent of the value of such parcel of Eligible Real Property set forth in the most recent Appraisal delivered with respect thereto to the Administrative Agent on a “hypothetical lease fee” basis (or, during the continuance of a Default or Event of Default, on an “as is” or other basis, as may be determined by the Administrative Agent, in its sole discretion).
Mortgage Value with respect to any parcel of Eligible Real Property, the Dollar Equivalent of the value of such parcel of Eligible Real Property set forth in the most recent Appraisal delivered with respect thereto to the Administrative Agent on an “as is” basis.
Mortgage Value with respect to any parcel of Eligible Mortgaged Real Property, the lesser of (a) the maximum stated amount secured by the Lien on such parcel of Eligible Mortgaged Real Property granted in favor of the applicable secured mortgagee pursuant to the relevant Mortgage and (b) the value of such parcel of Eligible Mortgaged Real Property set forth in the Existing Appraisal delivered with respect thereto.
Mortgage Value means, with respect to any parcel of Eligible Real Property of any Borrower or any of its Borrowing Base Contributors the lowest of the maximum stated amounts secured by the Lien on such parcel of Eligible Real Property granted in favor of the Administrative Agent or the Australian Collateral Trustee pursuant to the relevant Mortgage.
Mortgage Value means, with respect to any parcel of Eligible Real Property, the lesser of (a) the maximum stated amount secured by the Lien on such parcel of Eligible Real Property granted in favor of the applicable secured mortgagee pursuant to the relevant Mortgage and (b) the value of such parcel of Eligible Real Property set forth in the Final Appraisal delivered with respect thereto, provided that, if a Final Appraisal was not delivered with respect to any parcel of Eligible Real Property as of the Effective Date, then upon delivery of such Final Appraisal (i) the value of such parcel of Eligible Real Property for purposes of clause (b) above shall be the value of such parcel of Eligible Real Property set forth in such Final Appraisal so long as the amount of the title insurance described in clause (c) of the definition of Eligible Real Property is at least equal to such value, and (ii) the Borrowing Base shall be adjusted to reflect such value effective as of the delivery of the Borrowing Base Certificate in respect of the Fiscal Month in which such Final Appraisal is delivered to the Agent.
Mortgage Value of an Unencumbered Asset Pool Property has the meaning given to it in Section 5.5.
Mortgage Value. (a) with respect to any parcel of Eligible Mortgaged Real Property or Eligible California Real Property, the lesser of (i) the maximum amount secured by the Lien on such parcel of Eligible Mortgaged Real Property or Eligible California Real Property, as the case may be, granted in favor of the applicable secured mortgagee pursuant to the relevant Mortgage or Subsidiary Mortgage, as the case may be, and (ii) the value of such parcel of Eligible Mortgaged Real Property or Eligible California Real Property, as the case may be, set forth in the Final Appraisal delivered with respect thereto or, in the case of any parcel of Eligible Mortgaged Real Property or Eligible California Real Property as of the Initial Closing Date, set forth in the Preliminary Appraisal with respect thereto, provided that, if a Final Appraisal was not delivered with respect to any parcel of Eligible Mortgaged Real Property or Eligible California Real Property as of the Initial Closing Date, then upon delivery of such Final Appraisal (A) the value of such parcel of Eligible Mortgaged Real Property or Eligible California Real Property, as the case may be, for purposes of clause (ii) above shall be the value of such parcel of Eligible Mortgaged Real Property or Eligible California Real Property, as the case may be, set forth in such Final Appraisal and (B) the Borrowing Base shall be adjusted to reflect such value effective as of the delivery of the Borrowing Base Certificate in respect of the fiscal month in which such Final Appraisal is delivered to the Administrative Agent, provided, further, that in no event shall the Mortgage Value of any parcel of Eligible California Real Property exceed the amount secured by the Lien on such parcel of Eligible