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 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/ ▇▇▇▇▇▇▇ ▇▇▇▇▇▇ ------------------- Print Name: ▇▇▇▇▇▇▇ ▇▇▇▇▇▇ ------------------ Title: President ----------------------- Signed and acknowledged in the presence of: Witness Signature: /s/ ▇▇▇▇▇▇ ▇. ▇▇▇▇▇▇▇▇ ------------------------------ Print Name: ▇▇▇▇▇▇ ▇. ▇▇▇▇▇▇▇▇ ------------------------------------- Witness Signature: /s/ ▇▇▇▇▇▇ ▇▇▇▇▇▇▇ ------------------------------ Print Name: ▇▇▇▇▇▇ ▇▇▇▇▇▇▇ ------------------------------------- STATE OF NEW YORK COUNTY OF NEW YORK , ss. On this 16th day of August, 2002, 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 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/ ▇▇▇▇▇▇ ▇. ▇▇▇▇▇▇▇▇ ----------------------------------- Notary Public: -------------------- My Commission expires: ----------- This instrument was prepared by and, after recording, should be returned to: ▇▇▇▇▇▇▇▇▇ ▇. ▇▇▇▇▇▇▇▇, Esq. ▇▇▇▇▇▇▇ ▇▇▇▇▇▇▇▇▇ LLP ▇▇▇ ▇▇▇▇▇▇▇ ▇▇▇▇▇▇ ▇▇▇▇▇▇, ▇▇▇▇▇▇▇▇▇▇▇▇▇ ▇▇▇▇▇ (▇▇▇) ▇▇▇-▇▇▇▇
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Examples of Statutory Condition in a sentence

  • Any fraud or wilfully false statement in a statutory declaration in relation to the particulars required under Statutory Condition 6 invalidates the claim of the person who made the declaration.

  • The Insurer shall pay the insurance money for which it is liable under this contract within sixty days after the proof of loss has been received by it or, where an appraisal is made under subcondition (8) of Statutory Condition 4, within fifteen days after the award is rendered by the appraisers.

  • Unless the contract provides for a shorter period, the loss is payable within sixty days after the proof of loss is completed in accordance with Statutory Condition 6 and delivered to the Insurer.

  • The following statutory conditions are applicable in all Provinces of Canada (other than Quebec), except that Statutory Condition 2 is amended in certain Provinces as stated on the reverse side of this page.

  • Any fraud or willfully false statement in a statutory declaration in relation to the particulars required under Statutory Condition 6 invalidates the claim of the person who made the declaration.

  • The insurer must pay the insurance money for which it is liable under the contract within 60 days after the proof of loss has been received by it or, where a dispute resolution process is conducted under Statutory Condition 4(9), within 15 days after the decision is rendered.

  • Unless the contract provides for a shorter period, the loss is payable within 60 days after the proof of loss is completed in accordance with Statutory Condition 6 and delivered to the insurer.

  • In the event that loss or damage to your snowmobile for which you are insured under Section C exceeds the deductible amount shown on the Summary of Coverage page, we agree to waive Statutory Condition 4(5) which limits our liability to the actual cash value of the snowmobile, subject to all terms and conditions set out in this endorsement.

  • This Mortgage is granted with Mortgage Covenants and upon the Statutory Condition, for any breach of which the Mortgagee shall have the Statutory Power of Sale.

  • In the event that loss or damage to your ATV for which you are insured under Section C exceeds the deductible amount shown on the Summary of Coverage page, we agree to waive Statutory Condition 4(5) which limits our liability to the actual cash value of your ATV, subject to all terms and conditions set out in this endorsement.


More Definitions of Statutory Condition

Statutory Condition means Mass. Gen. ▇▇▇▇ ▇▇▇. 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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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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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 Clause 4.

  • 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.