Mortgagee of a Unit definition

Mortgagee of a Unit means the holder of a Mortgage on a Unit, which mortgage was recorded simultaneous with or after the recordation of this Declaration. Unless the context requires otherwise, the term “Mortgagee of a Unit” shall also be deemed to include the Mortgagee of the Condominium.
Sample 1
Mortgagee of a Unit means the holder of a Mortgage on a Unit, which Mortgage was recorded simultaneously with or after the recordation of this Declaration.
Sample 1

Examples of Mortgagee of a Unit in a sentence

  • This is a covenant for the benefit of any Mortgagee of a Unit and may be enforced by such Mortgagee.

  • Within fifteen (15) days after a written request by an Owner or First Mortgagee of a Unit, the Association shall provide a certificate stating all Assessments and other monies owed to the Association with respect to that Unit.

  • This is a covenant for the benefit of any Mortgagee of a Unit and may be enforced by any such Mortgagee.

  • Upon the request of any Owner or Mortgagee or prospective Owner or prospective Mortgagee of a Unit, the Village Board will furnish a certificate in recordable form stating the amount, if any, of unpaid Assessments charged to the Unit.

  • The Association shall, upon the written request of an owner, purchaser, or Mortgagee of a Unit (as defined below), issue a certificate of status of lien.

  • All such insurance policies shall provide that coverage may not be cancelled or substantially reduced without at least forty-five (45) days prior written notice (ten{10 } days for cancellation for nonpayment of premium) to the Village Association as the first named insurance therein and any First Mortgagee of a Unit.

  • Any Mortgagee of a Unit may file with the secretary of the Village Board a written request that it be given copies of notices.

  • Any First Mortgagee of a Unit may attend or designate a representative to attend the Meetings of the Village Association.

  • Coverage may not be canceled or substantially modified without at least thirty (30) days prior written notice (ten {10} days for cancellation for nonpayment of premium) to the Village Association as the first named insurance and any First Mortgagee of a Unit.

  • Each Owner of a Unit and each Mortgagee of a Unit by acceptance of a deed or encumbrance of a Unit consents to the incorporation in this Declaration of any such provisions and to the execution of any such regulatory agreement and agrees to be bound by any such provisions as if it were incorporated in this Declaration.

Related to Mortgagee of a Unit

  • GP Unit means a Partnership Unit which is designated as a GP Unit of the Partnership.

  • Rental unit means a structure or part of a structure used as a home, residence, or sleeping unit by a single person or household unit, or any grounds, or other facilities or area promised for the use of a residential tenant and includes, but without limitation, apartment units, boarding houses, rooming houses, mobile home spaces, and single and 2-family dwellings.

  • Partnership Unit means a fractional, undivided share of the Partnership Interests of all Partners issued hereunder. The allocation of Partnership Units among the Partners shall be as set forth on Exhibit A, as may be amended from time to time.

  • OP Unit means a Partnership Unit which is designated as an OP Unit of the Partnership.

  • Landlord Default shall have the meaning given such term in Article 14.

  • Additional Xxxx of Sale means each document, in the form of Attachment D hereto, executed by an authorized officer of VL Funding, the VL Funding Eligible Lender Trustee on behalf of VL Funding, Funding and the Interim Eligible Lender Trustee on behalf of Funding which shall: (i) set forth the list and certain terms of (a) Additional Loans offered by VL Funding and the VL Funding Eligible Lender Trustee on behalf of VL Funding and accepted for purchase by the Interim Eligible Lender Trustee for the benefit of Funding, including the Additional Loans Purchase Price for the Additional Loans being sold thereunder or (b) Substituted Loans substituted by VL Funding and (ii) sell, assign and convey to Funding and the Interim Eligible Lender Trustee, for the benefit of Funding, and their assignees, all right, title and interest of VL Funding and of the VL Funding Eligible Lender Trustee on behalf of VL Funding in the Additional Loans or Substituted Loans, as applicable, listed on the related Additional Xxxx of Sale and (iii) certify that the representations and warranties made by VL Funding and the VL Funding Eligible Lender Trustee on behalf of VL Funding pursuant to Sections 5(A) and (B) of these Master Terms, by the Servicer as set forth in Section 5(C) and by the Interim Eligible Lender Trustee as set forth in Section 5(D) are true and correct.

  • Condominium unit A Single Family Property within a Condominium Project.

  • Residual Loss means any item of gain or loss, as the case may be, of the Partnership recognized for federal income tax purposes resulting from a sale, exchange or other disposition of a Contributed Property or Adjusted Property, to the extent such item of gain or loss is not allocated pursuant to Section 6.2(b)(i)(A) or 6.2(b)(ii)(A), respectively, to eliminate Book-Tax Disparities.

  • Partnership Interest means an ownership interest in the Partnership held by either a Limited Partner or the General Partner and includes any and all benefits to which the holder of such a Partnership Interest may be entitled as provided in this Agreement, together with all obligations of such Person to comply with the terms and provisions of this Agreement.

  • Guarantor Event of Default means the occurrence of any “Event of Default” under and as defined in the Performance Guaranty.

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

  • Leasehold Mortgagee means the holder of a Leasehold Mortgage.

  • Event of withdrawal of a general partner means an event that causes a person to cease to be a general partner as provided in section 402.

  • Membership Unit means a Membership Common Unit, a Company Preferred Unit, a Company Junior Unit or any other fractional share of the Membership Interests that the Managing Member has authorized pursuant to Section 4.1 or Section 4.2 hereof.

  • Designating Party means the Party or non-party that designates Documents, Testimony, or Information as Confidential Material.

  • Potential Event of Default means any event which, with the giving of notice or the lapse of time or both, would constitute an Event of Default.

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

  • Lessee's Share is defined, for purposes of this Lease, as the percentage set forth in paragraph 1.10 of the Basic Lease Provisions, which percentage has been determined by dividing the approximate square footage of the Premises by the total approximate square footage of the rentable space contained in the Office Building Project. It is understood and agreed that the square footage figures set forth in the Basic Lease Provisions are approximations which Lessor and Lessee agree are reasonable and shall not be subject to revision except in connection with an actual change in the size of the Premises or a change in the space available for lease in the Office Building Project.

  • Contributed Property means each property or other asset, in such form as may be permitted by the Delaware Act, but excluding cash, contributed to the Partnership. Once the Carrying Value of a Contributed Property is adjusted pursuant to Section 5.5(d), such property shall no longer constitute a Contributed Property, but shall be deemed an Adjusted Property.

  • Superior Lease means the document which sets out the obligations your Landlord has made to their Superior Landlord. The promises contained in this Superior Lease will bind the Tenant if they have prior knowledge of those promises.

  • Owner Event of Default has the meaning specified in Section 16.2.

  • Declaration Event of Default means an “Event of Default” as defined in the Declaration.

  • Forcible felony means any crime defined in Iowa Code section 702.11. This includes felonious child endangerment, assault, murder, sexual abuse, kidnapping, robbery, arson in the first degree, or burglary in the first degree. Forcible felonies are not willful injury in violation of Iowa Code section 708.4, subsection 2; sexual abuse in the third degree committed between spouses; sexual abuse in violation of Iowa Code section 709.4, subsection 2, paragraph “c,” subparagraph (4); or sexual exploitation by a counselor or therapist in violation of Iowa Code section 709.15.

  • Single Family Property A one-unit residential property.

  • Partnership Unit Designation shall have the meaning set forth in Section 4.2.A hereof.

  • or "Residual Loss means any item of gain or loss, as the case may be, of the Partnership recognized for federal income tax purposes resulting from a sale, exchange or other disposition of a Contributed Property or Adjusted Property, to the extent such item of gain or loss is not allocated pursuant to Section 6.2(b)(i)(A) or 6.2(b)(ii)(A), respectively, to eliminate Book-Tax Disparities.