Second Trust Deed definition
Examples of Second Trust Deed in a sentence
If Second Trust Deed Financing is indicated in the Recitals above, a Second Installment Note secured by a Second Deed of Trust shall be in the principal amount shown, payable on terms and conditions agreed to by Seller and Buyer.
Following the date (the "Lien Release Date") of the release of Landlord's Property from the lien or liens of that certain First Trust Deed (as defined and described on Schedule I attached hereto) and that certain Second Trust Deed (as defined and described on Schedule I attached hereto) (collectively, the "Deeds of Trust"), Tenant may terminate this Lease on thirty (30) days' written notice to Landlord.
Such Second Trust Deed to be payable from the net proceeds of any refinancing utilizing the Building, but in any event no later than December 31, 1996.
On or before Close of Escrow, Buyer shall deposit with the Escrow Holder to be held in Escrow the balance of the Purchase Price less (i) a $7,400,000 loan (the "Loan") made by IDS (a subsidiary of Shearson American Express) and (ii) $1,000,000, representing the Seller financing, in immediately available funds by wire payable to Escrow Holder except that the First Trust Deed may be adjusted down to $7,150,000 and the Second Trust Deed increased to provide aggregate financing of $8,400,000.
Following the release of Landlord's Property from the lien or liens of that certain First Trust Deed (as defined and described on Schedule I attached hereto) and that certain Second Trust Deed (as defined and described on Schedule I attached hereto) (collectively, the "Deeds of Trust"), Tenant may terminate this Lease on thirty (30) days' written notice to Landlord.