Mortgaged Property definition

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

Mortgaged Property. The underlying property securing a Mortgage Loan, which, with respect to a Cooperative Loan, is the related Coop Shares and Proprietary Lease.

Mortgaged Property. The underlying property securing a Mortgage Loan.

Examples of Mortgaged Property in a sentence

• There shall be no actions, suits or proceedings pending, or to the Borrowers’ knowledge threatened, against or affecting the Borrowers or the Mortgaged Property, at law or in equity, or before any governmental agency, which, if adversely determined, would substantially impair the ability of the Borrowers to pay, when due, the Obligations.

• Upon reasonable notice to the Borrowers, whenever the Lender, in its sole discretion, deems it necessary, but not more than once per calendar quarter, the Borrowers shall permit the Lender, or any agent designated by the Lender, to inspect the Mortgaged Property, and the reasonable cost of all professionals and consultants hired by the Lender in its reasonable discretion, shall be at the expense of the Borrowers and paid by the Borrowers within ten (10) days after request therefor.

• The Borrowers shall comply at all times, in all material respects, with all Legal Requirements under its control and/or management affecting the use and operation of the Mortgaged Property or any Collateral.

• None of the covenants or other provisions contained in this Agreement or the other Loan Documents shall give, or shall be deemed to give, the Lender the right or power to exercise control over the affairs and/or management of the Borrowers or otherwise over the Mortgaged Property or any Collateral, the power of the Lender being limited to the right to exercise the remedies provided in this Agreement or the other Loan Documents.

More Definitions of Mortgaged Property

Mortgaged Property. The underlying property securing a Mortgage Loan, including any REO Property, consisting of an Estate in Real Property improved by a Residential Dwelling.

Mortgaged Property. The real property securing repayment of the debt evidenced by a Mortgage Note.

Mortgaged Property means the real property securing repayment of the debt evidenced by a Mortgage Note.

Mortgaged Property. The underlying real property securing a Mortgage Loan or, with respect to a Cooperative Loan, the related Cooperative Lease and Cooperative Stock.

Mortgaged Property means any Property owned by the Borrower or any Guarantor which is subject to the Liens existing and to exist under the terms of the Security Instruments.

Mortgaged Property. Either of (x) the fee simple interest in real property, together with improvements thereto including any exterior improvements to be completed within 120 days of disbursement of the related Mortgage Loan proceeds, or (y) in the case of a Cooperative Loan, the related Cooperative Shares and Proprietary Lease, securing the indebtedness of the Mortgagor under the related Mortgage Loan.

Mortgaged Property. With respect to each Mortgage Loan, the real property (or leasehold estate, if applicable) identified on the Mortgage Loan Schedule as securing repayment of the debt evidenced by the related Mortgage Note.