Mortgaged Present Value definition

Mortgaged Present Value means, as of any date of determination, the PV-9 attributable to Mortgaged Properties; provided that in calculating the Mortgaged Present Value the Virginia Borrowing Base Properties shall be deemed to constitute Mortgaged Properties so long as the Administrative Agent, for the benefit of the Secured Parties, has a Lien on and security interest in the Stock of any Credit Party owning Virginia Borrowing Base Properties pursuant to the Pledge Agreement, provided, that the PV-9 attributable to the Virginia Borrowing Base Properties that are deemed to be subject to a Mortgage shall not exceed 35% of the Mortgaged Present Value.
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Mortgaged Present Value means, as of any date of determination, the PV-9 attributable to Mortgaged Properties.
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Mortgaged Present Value means, as of any date of determination, the PV-9 attributable to Mortgaged Properties; provided that no more than 35% of the Mortgaged Present Value may be attributable to Proved Reserves that are not then categorized as Proved Developed Producing Reserves.
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More Definitions of Mortgaged Present Value

Mortgaged Present Value means the value of the Oil and Gas Properties evaluated in the most recent Reserve Report and constituting Mortgaged Properties.
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Mortgaged Present Value contained in Section 1.1 of the Credit Agreement are hereby deleted in their entirety.
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Mortgaged Present Value means, as of any date of determination, the calculation of the present value (using the average of the discount rates then customarily utilized by the Administrative Agent for reserve valuation purposes, which, on the Effective Date, is a 9% discount rate) of the projected future net revenues attributable to the Mortgaged Present Value Production utilizing the price assumptions used by the Administrative Agent in evaluating its oil and gas loans generally; provided that, the portion of Mortgaged Present Value attributed to Proven Reserves which are not then categorized as “producing” shall not exceed 25% of the resulting total Mortgaged Present Value. For purposes of calculating “Mortgaged Present Value”, the present value of any Proven Reserves attributable to the Mortgaged Present Value Production which are then categorized as “proved developed non-producing” shall be risk-weighted by 25% and the present value of any Proven Reserves attributable to the Mortgaged Present Value Production which are then categorized as “proved undeveloped” shall be risk-weighted by 50%.
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Mortgaged Present Value means, as of any date of determination, the calculation of the present value (using the average of the discount rates then customarily utilized by the Administrative Agent for reserve valuation purposes) of projected future net revenues from proven reserves attributable to the Mortgaged Present Value Production, utilizing the price assumptions then being applied by the Administrative Agent to evaluate the loan value of oil and gas properties, generally. Notwithstanding the foregoing, no more than 25% of any calculation of Mortgaged Present Value may be attributable to proven reserves that are not then categorized as “proved developed producing”.
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Related to Mortgaged Present Value

  • Mortgaged Properties the real properties listed on Schedule 1.1B, as to which the Administrative Agent for the benefit of the Lenders shall be granted a Lien pursuant to the Mortgages.

  • Mortgaged Real Property means each of the parcels of real property set forth on Schedule 4 hereto, or interests therein, owned in fee by a Credit Party, together with each other parcel of Real Property that shall become subject to a Mortgage after the Closing Date, in each case together with all of such Credit Party’s right, title and interest in the improvements and buildings thereon and all appurtenances, easements or other rights belonging thereto.

  • Portfolio Value means the aggregate amount of portfolio of investments including cash balance without netting off of leverage undertaken by the CDMDF.

  • Collateral Value The appraised value of a Mortgaged Property based upon the lesser of (i) the appraisal (as reviewed and approved by the Seller) made at the time of the origination of the related Mortgage Loan, or (ii) the sales price of such Mortgaged Property at such time of origination. With respect to a Mortgage Loan the proceeds of which were used to refinance an existing mortgage loan, the appraised value of the Mortgaged Property based upon the appraisal (as reviewed and approved by the Seller) obtained at the time of refinancing.

  • Underlying Mortgaged Property With respect to each Co-op Loan, the underlying real property owned by the related residential cooperative housing corporation.

  • Mortgaged Property shall have the meaning assigned to such term in the recitals.

  • Appraised Value The value set forth in an appraisal made in connection with the origination of the related Mortgage Loan as the value of the Mortgaged Property.

  • Mortgage Assets The Mortgage Loans to be included in the Trust Fund are as described in Annex A hereto.

  • Mortgage Pool The pool of Mortgage Loans, identified on Schedule 1 from time to time, and any REO Properties acquired in respect thereof.

  • Group 2 Mortgage Loans Those Mortgage Loans identified on the Mortgage Loan Schedule as Group 2 Mortgage Loans.

  • Mortgage Loan Rate means, as of any date of determination, the weighted average of the Note A Rate and the Note B Rate.

  • Group III Mortgage Loans and "Group IV Mortgage Loans," respectively), formed by Wells Fargo Asset Securities Corporation (hereinafter called the "Depxxxxxr," which term includes any successor entity under the Agreement referred to below). The Trust Estate was created pursuant to a Pooling and Servicing Agreement dated as of February 27, 2006 (the "Agreement") among the Depositor, Wells Fargo Bank, N.A., as master servicer (the "Master Servicer") anx X.X. Bank National Association, as trustee (the "Trustee"), a summary of certain of the pertinent provisions of which is set forth hereinafter. To the extent not defined herein, the capitalized terms used herein have the meanings ascribed to such terms in the Agreement. This Certificate is issued under and is subject to the terms, provisions and conditions of the Agreement, to which Agreement the Holder of this Certificate by virtue of the acceptance hereof assents and by which such Holder is bound. Pursuant to the terms of the Agreement, a distribution will be made on the 25th day of each month or, if such 25th day is not a Business Day, the Business Day immediately following (the "Distribution Date"), commencing on the first Distribution Date specified above, to the Person in whose name this Certificate is registered at the close of business on the Record Date, in an amount equal to the product of the Percentage Interest evidenced by this Certificate and the Group I-A Distribution Amount for the Class I-A-11 Certificates required to be distributed to Holders of the Class I-A-11 Certificates on such Distribution Date, subject to adjustment in certain events as specified in the Agreement. Distributions in reduction of the Principal Balance of certain Classes of Class A Certificates may not commence on the first Distribution Date specified above. Distributions of principal will be allocated among the Classes of Group I-A Certificates in accordance with the provisions of the Agreement. The pass-through rate on the Class I-A-11 Certificates applicable to each Distribution Date will be 5.500% per annum. The amount of interest which accrues on this Certificate in any month will be subject to reduction with respect to any Non-Supported Interest Shortfall, any Relief Act Shortfall and the interest portion of certain Realized Losses allocated to the Class I-A-11 Certificates, as described in the Agreement. Distributions on this Certificate will be made by the Paying Agent by check mailed to the address of the Person entitled thereto, as such name and address shall appear on the Certificate Register, unless such Person is entitled to receive payments by wire transfer in immediately available funds in accordance with the Agreement and such Person has notified the Paying Agent pursuant to the Agreement that such payments are to be made by wire transfer of immediately available funds. Notwithstanding the above, the final distribution in reduction of the Principal Balance of this Certificate will be made after due notice of the pendency of such distribution and only upon presentation and surrender of this Certificate at the office or agency of the Paying Agent specified for that purpose in the notice of final distribution. Reference is hereby made to the further provisions of this Certificate set forth on the reverse hereof, which further provisions shall for all purposes have the same effect as if set forth at this place. This Certificate constitutes a "regular interest" in a "real estate mortgage investment conduit" as those terms are defined in Section 860G(a)(1) and Section 860D, respectively, of the Internal Revenue Code of 1986, as amended. Unless this Certificate has been countersigned by an authorized officer of the Authenticating Agent, by manual signature, this Certificate shall not be entitled to any benefit under the Agreement or be valid for any purpose.

  • Group I Mortgage Loans The Mortgage Loans identified on the Mortgage Loan Schedule as Group I Mortgage Loans.

  • Group 1 Mortgage Loans Those Mortgage Loans identified on the Mortgage Loan Schedule as Group 1 Mortgage Loans.

  • Mortgage Loan Principal Balance means, at any date of determination, the aggregate principal balance of the Notes evidencing the Mortgage Loan.

  • Group 3 Mortgage Loans Those Mortgage Loans identified on the Mortgage Loan Schedule as Group 3 Mortgage Loans.

  • Mortgaged Premises means any real property which shall now or hereafter be subject to a Note Mortgage and/or an ABL Mortgage.

  • Group II Mortgage Loans The Mortgage Loans identified on the Mortgage Loan Schedule as Group II Mortgage Loans.

  • Group 2 Mortgage Loan Each Mortgage Loan listed on Exhibit D-2 hereto.

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

  • Liquidated Mortgage Loan With respect to any Distribution Date, a defaulted Mortgage Loan (including any REO Property) which was liquidated in the calendar month preceding the month of such Distribution Date and as to which the Master Servicer has determined (in accordance with this Agreement) that it has received all amounts it expects to receive in connection with the liquidation of such Mortgage Loan, including the final disposition of an REO Property.

  • Mortgage Loan Group Either Group I or Group II.

  • Balloon Mortgage Loan A Mortgage Loan that provides for the payment of the unamortized principal balance of such Mortgage Loan in a single payment at the maturity of such Mortgage Loan that is substantially greater than the preceding monthly payment.

  • Group 1 Mortgage Loan Each Mortgage Loan listed on Exhibit D-1 hereto.