Statutory condition definition

Statutory condition is defined in Section 5302.14 of the Ohio Revised Code and provides generally that if Mortgagor pays the indebtedness secured by this Mortgage, performs the other Obligations secured hereby and the conditions of any prior mortgage, pays all taxes and assessments, maintains insurance against fire and other hazards, and does not commit or suffer waste, then this Mortgage shall be void. As a further condition of this Mortgage, Mortgagor agrees as follows:
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Statutory condition. This Mortgage is given upon the STATUTORY CONDITION, which is incorporated herein by reference. To the extent that the provisions of this Mortgage and the provisions set forth in the Statutory Conditions conflict, the provisions of this Mortgage shall control to the extent permitted by applicable law.
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Statutory condition is defined in Section 5302.14 of the Ohio Revised Code and provides generally that if the Grantor pays the principal, interest and Additional Payment, if any, secured by this Mortgage Deed, performs the other obligations secured hereby and pays all taxes and assessments, maintains insurance against fire and other hazards, and does not commit or suffer waste, then this mortgage shall be void, but otherwise remain in full force and effect. The Grantor further covenants with the Grantee as follows:
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Examples of Statutory condition in a sentence

  • The term of this mortgage condition coincides with the term of the policy:Provided always that the Insurer reserves the right to cancel the policy as provided by Statutory condition but agrees that the Insurer will neither terminate nor alter the policy to the prejudice of the Mortgagee without the notice stipulated in such Statutory condition.

  • NOTE: In Prince Edward Island Statutory condition 1, subconditions 2 and 3 are identical with the above quoted Statutory Condition relating to material change in risk.

  • The term of this mortgage condition coincides with the term of the policy: Provided always that the Insurer reserves the right to cancel the policy as provided by Statutory condition but agrees that the Insurer will neither terminate nor alter the policy to the prejudice of the Mortgagee without the notice stipulated in such Statutory condition.

  • Statutory condition 4 of subsection 230(2) of the Insurance Act applies with the necessary modifications where a claimant claims damages for accidental damage to an insured automobile or its contents or to both an insured automobile and its contents.

  • Non – Statutory condition : i) Bidder shall strictly comply with the ‘Delivery’ schedule of supply as detailed elsewhere in this document.

  • Statutory condition for environmental authority for particular resource activities[s 81B](e) the natural interaction of the wetland with other ecosystems, including other wetlands.

  • Statutory condition 6A should be amended to state that “The crofter shall be responsible for ensuring where the croft is sublet, that the subtenant adheres to the statutory conditions and duties”.

  • Statutory condition regarding conditions imposed on interstate admission .

  • NOTE: In Prince Edward Island Statutory condition 1, subconditions 2 and 3 are identical with the above quoted Statutory Con dition relating to material change in risk.

  • Statutory condition of Agreement The Biodiscovery Entity acknowledges and confirms that Section 35(1) of the Act is a condition of this Agreement.


More Definitions of Statutory condition

Statutory condition is defined in Section 5302.14 of the Ohio Revised Code and provides generally that if the Mortgagor pays the principal and interest secured by this Mortgage, performs the other obligations secured hereby and the conditions of any prior mortgage, pays all taxes and assessments, maintains insurance against fire and other hazards, and does not commit or suffer waste, and if no further advances may be obtained under the Credit Agreement or any of the other Obligations, and if no amounts remain available for drawing under any letter of credit or similar Obligation, then this Mortgage shall be void. Signed as of the 16/th/ day of August, 2002. REPUBLIC ENGINEERED PRODUCTS LLC Signature: /s/ Xxxxxxx Xxxxxx ------------------- Print Name: Xxxxxxx Xxxxxx ------------------ Title: President ----------------------- Signed and acknowledged in the presence of: Witness Signature: /s/ Xxxxxx X. Xxxxxxxx ------------------------------ Print Name: Xxxxxx X. Xxxxxxxx ------------------------------------- Witness Signature: /s/ Xxxxxx Xxxxxxx ------------------------------ Print Name: Xxxxxx Xxxxxxx ------------------------------------- STATE OF NEW YORK COUNTY OF NEW YORK , ss. On this 16th day of August, 2002, before me appeared Xxxxxxx Xxxxxx, to me personally known, or established on the basis of satisfactory evidence to be the person who signed the within instrument, who, being by me duly sworn, did say that he is the President of Republic Engineered Products LLC a Delaware limited liability company, and in his capacity as such officer acknowledged that said instrument was signed in behalf of said limited liability company, and was the free act and deed of said limited liability company. /s/ Xxxxxx X. Xxxxxxxx ----------------------------------- Notary Public: -------------------- My Commission expires: ----------- This instrument was prepared by and, after recording, should be returned to: XXXXXXXXX X. XXXXXXXX, Esq. Xxxxxxx XxXxxxxxx LLP 000 Xxxxxxx Xxxxxx Xxxxxx, Xxxxxxxxxxxxx 00000 (000) 000-0000
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Statutory condition is defined in Section 5302.14 of the Ohio Revised Code and provides generally that if the Mortgagor pays the principal and interest secured by this Mortgage, performs the other obligations secured hereby and the conditions of any prior mortgage, pays all taxes and assessments, maintains insurance against fire and other hazards, and does not commit or suffer waste, and if no further advances may be obtained under the Credit Agreement or any of the other Obligations, and if no amounts remain available for drawing under any letter of credit or similar Obligation, then this Mortgage shall be void. Signed the _____________ day of August, 1999. REPUBLIC TECHNOLOGIES INTERNATIONAL, LLC By: ____________________________________ Name: __________________________________ Title: _________________________________ Signed and acknowledged in the presence of: ___________________________ Witness: __________________ Name: _____________________ ___________________________ Witness: __________________ Name: _____________________ STATE OF _______________ COUNTY OF __________, ss. On this ______________, 1999, before me appeared ___________________, to me personally known, or established on the basis of satisfactory evidence to be the person who signed the within instrument, who, being by me duly sworn, did say that he is the ___________________________ of REPUBLIC TECHNOLOGIES INTERNATIONAL, LLC, a Delaware limited liability company, and in his capacity as such officer acknowledged that said instrument was signed in behalf of said limited liability company, and was the free act and deed of said limited liability company.
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Statutory condition means Mass. Gen. Xxxx Xxx. Ch. 183 S20.
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Statutory condition has the meaning set forth in General Statutes of Connecticut, Section 47-36j.
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Related to Statutory condition

  • Regulatory Conditions means the conditions set out in paragraphs 3.3 to 3.5 (inclusive) of Part A of Appendix I to the Announcement;

  • Eligibility Conditions means the eligibility conditions specified in the Act and the Rules including all the eligibility conditions listed in Clause [5] of the Tender Document.

  • Delivery Condition has the meaning set forth in Section 2.1.

  • Minimum Condition has the meaning set forth in Annex I.

  • Emergency Condition means a condition or situation: (1) that in the judgment of the Party making the claim is imminently likely to endanger life or property; or (2) that, in the case of the NYISO or Connecting Transmission Owner, is imminently likely (as determined in a non-discriminatory manner) to cause a material adverse effect on the security of, or damage to the New York State Transmission System or Distribution System, the Connecting Transmission Owner’s Interconnection Facilities or the electric systems of others to which the New York State Transmission System or Distribution System is directly connected; or (3) that, in the case of the Interconnection Customer, is imminently likely (as determined in a non-discriminatory manner) to cause a material adverse effect on the security of, or damage to, the Small Generating Facility or the Interconnection Customer’s Interconnection Facilities. Under Emergency Conditions, the NYISO or Connecting Transmission Owner may immediately suspend interconnection service and temporarily disconnect the Small Generating Facility. The NYISO or Connecting Transmission Owner shall notify the Interconnection Customer promptly when it becomes aware of an Emergency Condition that may reasonably be expected to affect the Interconnection Customer’s operation of the Small Generating Facility. The Interconnection Customer shall notify the NYISO and Connecting Transmission Owner promptly when it becomes aware of an Emergency Condition that may reasonably be expected to affect the New York State Transmission System or Distribution System or any Affected Systems. To the extent information is known, the notification shall describe the Emergency Condition, the extent of the damage or deficiency, the expected effect on the operation of each Party’s facilities and operations, its anticipated duration, and the necessary corrective action.

  • Minimum Tender Condition shall have the meaning provided in Section 2.15(b).

  • Extension Minimum Condition means a condition to consummating any Extension that a minimum amount (to be determined and specified in the relevant Extension Request, in the Borrower’s sole discretion) of any or all applicable Classes be submitted for Extension.

  • Equity Conditions Failure means that on any applicable date the Equity Conditions have not been satisfied (or waived in writing by the Holder).

  • Property Condition Report means a report prepared by a company satisfactory to Lender regarding the physical condition of the Property, satisfactory in form and substance to Lender in its sole discretion.

  • Unsafe condition as used in this clause means the actual or potential exposure of contractor or Government employees to a hazardous material as defined in Federal Standard No. 313, and any revisions thereto during the term of this contract, or any other material or working condition designated by the Contracting Officer's Technical Representative (COTR) as potentially hazardous and requiring safety controls.

  • Equity Conditions means, during the period in question, (a) the Corporation shall have duly honored all conversions scheduled to occur or occurring by virtue of one or more Notices of Conversion of the applicable Holder on or prior to the dates so requested or required, if any, (b) the Corporation shall have paid all liquidated damages and other amounts owing to the applicable Holder in respect of the Preferred Stock, (c)(i) there is an effective registration statement pursuant to which either (A) the Corporation may issue Conversion Shares or (B) the Holders are permitted to utilize the prospectus thereunder to resell all of the shares of Common Stock issuable pursuant to the Transaction Documents (and the Corporation believes, in good faith, that such effectiveness will continue uninterrupted for the foreseeable future) or (ii) all of the Conversion Shares may be issued to the Holder pursuant to Section 3(a)(9) of the Securities Act and immediately resold without restriction, (d) the Common Stock is trading on a Trading Market and all of the shares issuable pursuant to the Transaction Documents are listed or quoted for trading on such Trading Market (and the Corporation believes, in good faith, that trading of the Common Stock on a Trading Market will continue uninterrupted for the foreseeable future), (e) there is a sufficient number of authorized, but unissued and otherwise unreserved, shares of Common Stock for the issuance of all of the shares then issuable pursuant to the Transaction Documents, (f) the issuance of the shares in question to the applicable Holder would not violate the limitations set forth in Section 6(d) herein and (g) the applicable Holder is not in possession of any information provided by the Corporation, any of its Subsidiaries, or any of their officers, directors, employees, agents or Affiliates, that constitutes, or may constitute, material non-public information.

  • Step Down Conditions As of any Distribution Date on which any decrease in any Senior Prepayment Percentage may apply, (i) the outstanding Principal Balance of all Mortgage Loans 60 days or more Delinquent (including Mortgage Loans in REO and foreclosure), averaged over the preceding six month period, as a percentage of the aggregate of the Class Certificate Principal Balances of the Classes of Subordinate Certificates on such Distribution Date, does not equal or exceed 50% and (ii) cumulative Realized Losses with respect to all of the Mortgage Loans do not exceed: · for any Distribution Date on or after the seventh anniversary until the eighth anniversary of the first Distribution Date, 30% of the aggregate Certificate Principal Balance of the Subordinate Certificates as of the Closing Date, · for any Distribution Date on or after the eighth anniversary until the ninth anniversary of the first Distribution Date, 35% of the aggregate Certificate Principal Balance of the Subordinate Certificates as of the Closing Date, · for any Distribution Date on or after the ninth anniversary until the tenth anniversary of the first Distribution Date, 40% of the aggregate Certificate Principal Balance of the Subordinate Certificates as of the Closing Date, · for any Distribution Date on or after the tenth anniversary until the eleventh anniversary of the first Distribution Date, 45% of the aggregate Certificate Principal Balance of the Subordinate Certificates as of the Closing Date, and · for any Distribution Date on or after the eleventh anniversary of the first Distribution Date, 50% of the aggregate Certificate Principal Balance of the Subordinate Certificates as of the Closing Date.

  • Business Condition means the current business, financial condition, results of operations and assets of a corporate entity.

  • Termination Conditions means, collectively, (a) the payment in full in cash of the Obligations (other than (i) contingent indemnification obligations not then due and (ii) Obligations under Secured Hedge Agreements and Secured Cash Management Agreements) and (b) the termination of the Commitments and the termination or expiration of all Letters of Credit under this Agreement (unless the Outstanding Amount of the L/C Obligations related thereto has been Cash Collateralized on terms reasonably acceptable to the applicable Issuing Bank, backstopped by a letter of credit reasonably satisfactory to the applicable Issuing Bank or deemed reissued under another agreement reasonably acceptable to the applicable Issuing Bank).

  • Acute condition means that the individual is medically unstable. Such an individual requires frequent monitoring by medical professionals, such as physicians and registered nurses, in order to maintain his or her health status.

  • Equity Conditions Measuring Period means each day during the period beginning twenty (20) Trading Days prior to the applicable date of determination and ending on and including the applicable date of determination.

  • Maximum Tender Condition has the meaning specified in Section 2.17(b).

  • Failed Remarketing Condition means a Failed Remarketing Condition-Purchased VRDP Shares or a Failed Remarketing Condition-Unpurchased VRDP Shares.

  • Rating Condition has the meaning specified in Section 2.06(c)(ii).

  • Trading Price Condition shall have the meaning specified in Section 14.01(b)(i).

  • Failed Remarketing Condition—Unpurchased VRDP Shares means that a Beneficial Owner (other than the Liquidity Provider or its affiliates) continues to hold VRDP Shares, that were subject to a valid Tender, after any Purchase Date as a result of the failure by the Liquidity Provider for any reason to purchase such VRDP Shares pursuant to the Purchase Obligation (whether as a result of an unsuccessful Remarketing or a Mandatory Purchase) ("Unpurchased VRDP Shares"), until such time as all Outstanding Unpurchased VRDP Shares are (i) successfully Remarketed, (ii) purchased by the Liquidity Provider pursuant to the Purchase Obligation, or (iii) if not successfully Remarketed or purchased by the Liquidity Provider pursuant to the Purchase Obligation, the subject of a validly tendered Notice of Revocation (or any combination of the foregoing); and any Unpurchased VRDP Shares shall be deemed tendered for Remarketing until the earliest to occur of the foregoing events (i), (ii) or (iii) with respect to such Unpurchased VRDP Shares.

  • Change in condition means a change in physical condition of the employee as well as any change

  • Obstetric condition means a condition that is listed under Group T4 (Obstetrics) in the Medicare Benefits Schedule.

  • Life-threatening condition means any disease or condition from which the likelihood of death is probable unless the course of the disease or condition is interrupted.

  • Qualifying condition means a condition described in Section 26-61a-104.

  • Mental health condition means a condition defined to be