RUS Mortgage definition

RUS Mortgage means the mortgage and security agreement, as from time to time supplemented, amended and re- stated, made by and among the bor- rower, RUS, and, if a party thereto, third party lenders, or any other form of mortgage or security instrument or indenture of mortgage and deed of trust, securing the payment of out- standing loans made or guaranteed by RUS and other lenders. RUS wholesale power contract means the contract for the wholesale sale of electric power and energy between a power supply borrower and its member as approved by RUS. Secured loans shall mean outstanding loans secured pursuant to the RUS mortgage. State regulatory authority means any state board or local governing body having jurisdiction under state law to regulate, or in any way, approve the electric rates charged by a power sup- ply borrower or electric distribution member of a power supply borrower.

RUS Mortgage means the mortgage identified on Schedule 1 as it may be amended, supplemented and restated from time to time.

RUS Mortgage means collectively those mortgages and security agree- ments made by and among the bor- rower, the Government, and third par- ties, if any, securing indebtedness evi- dencing electric loans or loan guaran- tees made pursuant to the RE Act. Rural development loans means loans or grants made pursuant to Rural de- velopment programs. Rural development programs means loan or grant programs under the au- thority of the Administrator pursuant to sections 313, 501, and 502 of the RE Act.

Examples of RUS Mortgage in a sentence

• Insured loan means a loan made pur-suant to Section 305 of the RE Act.Lien accommodation means the shar- ing of the Government’s (RUS’s) lien on property, usually all property, cov- ered by the lien of the RUS Mortgage.

• Nothing in this subpart shall af- fect any rights of supplemental lenders under the RUS Mortgage, or other creditors of the borrower.

• Except as expressly provided in this subpart, the borrower shall comply with all provisions of its RUS Loan Contract, its outstanding notes issued to RUS, and the RUS Mortgage.

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• Promptly after becoming aware thereof, notice of the occurrence of any default under the Loan-Grant Documents or the RUS Mortgage or the receipt of any notice given pursuant to the Loan-Grant Documents or RUS Mortgage with respect to the occurrence of any event which with the giving of notice or the passage of time, or both, could become an Event of Default hereunder, the other Loan-Grant Documents or under the RUS Mortgage.

• The RUS Mortgage is in full force and effect, will secure the Obligations, including the Note, and creates a valid first lien on the property pledged thereunder and hereunder.

• The RUS Mortgage and Security Agreement sets out certain financial ratios that must be met before a dividend can be declared.

• Loans, investments, security, obligations entered into prior to the date of the borrower's initial RUS Mortgage.

• The Fee Reduction Events described in the amendments to the Standby Agreements are essentially the same as the Fee Stabilization Events contained in the Standby Agreements.6 In its application, Big Rivers states that it has determined that the Fee Reduction Event that has the best likelihood of success is the revision of the New RUS Mortgage to include Credit Suisse as a mortgagee.

• Describe the differences between the RUS Mortgage, the Intercreditor Agreement, and the proposed Indenture.

More Definitions of RUS Mortgage

RUS Mortgage means the Restated Mortgage and Security Agreement, dated as of March 1, 2002, by and between the Debtor and the United States of America, as it may have been supplemented, amended, consolidated or restated from time to time.