Permitted Mortgage means (a) any purchase money mortgage on such Principal Property prior to, simultaneously with or within 180 days after the later of (1) the acquisition or completion of construction or completion of substantial reconstruction, renovation, remodeling, expansion or improvement (each, a “substantial improvement”) of such Principal Property or (2) the placing in operation of such property after the acquisition or completion of any such construction or substantial improvement; (b) Mortgages on a Principal Property existing at the time of acquisition, including acquisition through merger or consolidation; (c) Mortgages existing on the date of the initial issuance of the Notes, Mortgages on assets of a corporation or other business entity existing on the date it becomes a Restricted Subsidiary or is merged or consolidated with the Company or a Restricted Subsidiary or at the time the corporation or other business entity sells, leases or otherwise disposes of its property as an entirety or substantially as an entirety to the Company or a Restricted Subsidiary or Mortgages on the assets of a Subsidiary that is newly designated as a Restricted Subsidiary if the Mortgage would have been permitted under the provisions of this paragraph if such Mortgage was created while the Subsidiary was a Restricted Subsidiary; (d) Mortgages in favor of the Company or a Restricted Subsidiary; (e) Mortgages for taxes, assessments or governmental charges or levies that are not delinquent or that are being contested in good faith; (f) carriers’, warehousemen’s, materialmen’s, repairmen’s, mechanic’s, landlords’ and other similar Mortgages arising in ordinary course of business that are not delinquent or remain payable without penalty or that are being contested in good faith; (g) Mortgages (other than any Mortgage imposed by the Employee Retirement Income Security Act of 1974) consisting of pledges or deposits required in the ordinary course of business in connection with workers’ compensation, unemployment insurance and other social security legislation; (h) easements, rights-of-way, restrictions, encroachments, imperfections and other similar encumbrances affecting real property that, in the aggregate, are not substantial in amount and do not in any case materially detract from the value of the Principal Property subject thereto or materially interfere with the ordinary conduct of the Company and its Subsidiaries’ business, taken as a whole; (i) Mortgages arising by reason of deposi...
Permitted Mortgage. The mortgage, deed of trust or other similar documents (“Mortgage”) securing the Initial Loan or any subsequent mortgage placed on the Leased Property by Lessor and Lessee in compliance with the terms of this Lease.
Permitted Mortgage means any mortgage placed on, or other security interest granted in, the Project Site or any part thereof in connection with any construction or permanent financing of the Project.
Examples of Permitted Mortgage in a sentence
Xxxxx Xxxxxxx LLP 00 Xxxx 00xx Xxxxxx New York, New York 10036 If to the Lender: PNC Bank, National Association 00000 Xxxxxx Xxxx, Xxxxx 000 Xxxxxxxxx Xxxxx, Xxxxxxxxxx 00000 Attention: [ ] In connection with the execution and delivery of any additional Permitted Mortgage pursuant to the terms and conditions of Section 4.6 hereof, the Company may provide the Agency with notice of an additional address for any copy or copies which shall be provided for any notice required to be given to Lender.
F-1 EXHIBIT “G” - Required Provisions of Permitted Mortgage...................................................
More Definitions of Permitted Mortgage
Permitted Mortgage. A Permitted Mortgage is from a bank or public lending institution or other organization subject to government regulations and direct government supervision. The Permitted Mortgage requires the permission of the Lessor as such Permitted Mortgagee may be exempted from some of the obligations of the Lessee under the terms of this lease. A private mortgage or a loan holding the leasehold as collateral does not require the permission of the Lessor and such private mortgagee is obligated to all of the terms of this lease the same as the Lessee.
Permitted Mortgage means any mortgage subjecting property of any Subsidiary of the Parent to a Lien where (i) the Parent shall agree, for the benefit of the Administrative Agent and the Lenders, not to permit any Subsidiary owning any interest in such property to create, incur or suffer to exist any Indebtedness other than a Permitted Mortgage Financing and (ii) such mortgage (and the other documentation, if any, relating thereto) does not contain any covenants or other provisions limiting or restricting the ability of the Parent and its Subsidiaries to guarantee the obligations of the Obligors or to provide collateral to secure the obligations of the Obligors, in each case under the Basic Documents (unless such restrictions apply solely to the SPE which consummates such Permitted Mortgage Financing).
Permitted Mortgage means any mortgage subjecting property of any Subsidiary of the Company to a Lien where (i) the outstanding Capital Stock of such Subsidiary has been pledged to the Administrative Agent for the benefit of the Lenders pursuant to the Company Pledge Agreement, the Canadian Borrower Pledge Agreement, the Subsidiary Pledge Agreement or another pledge agreement that is in form and substance reasonably acceptable to the Administrative Agent, (ii) the Company shall agree, for the benefit of the Administrative Agent and the Lenders, not to permit any Subsidiary owning any interest in such property to create, incur or suffer to exist any Indebtedness other than Indebtedness permitted hereunder (determined without giving effect to clause (ii) of the definition of "Permitted Indebtedness" in this Section 1.01) and other Indebtedness secured by such mortgage, (iii) such mortgage (and the other documentation, if any, relating thereto) does not contain any cross-default provisions referring to any other indebtedness of the Company or its Subsidiaries (except in the case of Permitted Mortgage Financings of Existing Facilities) and (iv) such mortgage (and the other documentation, if any, relating thereto) does not contain any covenants subjecting the Company or its Subsidiaries to financial tests of any nature (except in the case of Permitted Mortgage Financings of Existing Facilities).
Permitted Mortgage. A mortgage or deed of trust on the Home and the Homeowner’s right to possess, occupy and use the Leased Land granted to a lender by the Homeowner with ACLT’s Permission. The Homeowner may not mortgage ACLT’s interest in the Leased Land, and may not grant any mortgage or deed of trust without ACLT’s Permission.
Permitted Mortgage means any mortgage which constitutes, or any security interest given in connection therewith which together constitute, a lien upon the leasehold estate hereby created and Tenant's interest in the Buildings (including Tenant's interest as sublessor in any present or future subleases and any other interest of Tenant in the Building Equipment), which mortgage complies with the requirements of Section 15.3.
Permitted Mortgage means a first mortgage permitted to be placed upon a Unit pursuant to the provisions of the By-Laws.