Sums Secured definition

Sums Secured means the unpaid balance of amounts described below in the section titled “Borrower’s Transfer to Lender of Rights in the Property.”
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Sums Secured. The amounts described below in the section titled “Borrower’s Transfer to Lender of Rights in the Property” sometimes will be called the “Sums Secured.”
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Sums Secured. The amounts described below in the section titled “Borrower’s Transfer to Lender of Rights in the Property” sometimes will be called the “sums secured.” XXXXXXXX’S TRANSFER TO LENDER OF RIGHTS IN THE PROPERTY [I/We] mortgage, grant and convey the Property to Lender subject to the terms of this Security Instrument. This means that, by signing this Security Instrument, [I/we] [am/are] giving Lender those rights that are stated in this Security Instrument and also those rights that the law gives to lenders who hold mortgages on real property. [I/We] [am/are] giving Lender these rights to protect Lender from possible losses that might result if [I/we] fail to: Pay all the amounts that [I/we] owe Lender as stated in the Note; Pay, with interest, any amounts that Lender spends under Paragraphs 2 and 7 of this Security Instrument to protect the value of the Property and Lender’s rights in the Property; and Keep all of [my/our] other promises and agreements under this Security Instrument. DESCRIPTION OF THE PROPERTY [I/We] give Lender rights in the Property described in (A) through (J) below: The Property which is located at , [Street] , New York, . This Property is in [City] [Zip Code] County. It has the following legal description: All buildings and other improvements that are located on the Property described in subparagraph (A) of this section; All rights in other property that [I/we] have as owner(s) of the Property described in subparagraph (A) of this section. These rights are known as “easements, rights and appurtenances attached to the Property”; All rents or royalties from the Property described in subparagraph (A) of this section; All mineral, oil and gas rights and profits, water rights and stock that are part of the Property described in subparagraph (A) of this section; All rights that [I/we] have in the land which lies in the streets or roads in front of, or next to, the Property described in subparagraph (A) of this section; All fixtures that are now, or in the future will be, on the Property described in subparagraph of this section; All of the rights and property described in subparagraphs (B) through (G) of this section that [I/we] acquire in the future; All replacements of or additions to the Property described in subparagraphs (B) through
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Examples of Sums Secured in a sentence

  • This means that any one of us may be required to pay all of the Sums Secured.

  • This is known as “Foreclosure and Sale.” In any lawsuit for Foreclosure and Sale, Lender will have the right to collect all costs and disbursements and additional allowances allowed by Applicable Law and will have the right to add all reasonable attorneys’ fees to the amount I owe Lender, which fees shall become part of the Sums Secured.

  • When I have paid all of the Sums Secured, Lender will promptly refund to me any Funds that are then being held by Lender.

  • Lender may require Immediate Payment in Full of all Sums Secured by this Security Instrument if all or any part of the Property, or if any right in the Property, is sold or transferred without Xxxxxx’s prior written permission.

  • Lender may use such monies to pay off any part of the Sums Secured without affecting Xxxxxx’s right to continue foreclosure and sale.

  • If the restoration or repair is not economically feasible or Lender’s security given in this Security Instrument would be lessened, the Miscellaneous Proceeds will be applied to the Sums Secured, whether or not then due.

  • Lender is authorized to collect and apply the Miscellaneous Proceeds either to the Sums Secured, whether or not then due, or to restoration or repair of the Property, if I (i) abandon the Property, or (ii) fail to respond to Lender within 30 days after the date Lender notifies me that the Opposing Party (as defined in the next sentence) offers to settle a claim for damages.

  • In the event of a Partial Devaluation where the fair market value of the Property immediately before the Partial Devaluation is less than the amount of the Sums Secured immediately before the Partial Devaluation, all of the Miscellaneous Proceeds will be used to reduce the Sums Secured, whether or not the sums are then due, unless the Lender and I otherwise agree in writing.

  • In the event of a partial taking, destruction, or loss in value of the Property (each, a “Partial Devaluation”) where the fair market value of the Property immediately before the Partial Devaluation is equal to or greater than the amount of the Sums Secured immediately before the Partial Devaluation, a percentage of the Miscellaneous Proceeds will be applied to the Sums Secured unless the Lender and I otherwise agree in writing.

  • The amount of the Miscellaneous Proceeds that will be so applied is determined by multiplying the total amount of the Miscellaneous Proceeds by a percentage calculated by taking (i) the total amount of the Sums Secured immediately before the Partial Devaluation, and dividing it by (ii) the fair market value of the Property immediately before the Partial Devaluation.


More Definitions of Sums Secured

Sums Secured. This mortgage secures to the Lender repayment of the Loan, the payment of interest on the Loan and the payment from time to time of all other sums due from the Borrower to the Lender on any account whatsoever. If a Default Event occurs all amounts secured by this mortgage shall become immediately due and payable. The Borrower covenants to pay all such monies to the Lender.
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Related to Sums Secured

  • Notes Secured Parties means the Secured Noteholders, the Notes Collateral Agent and the Notes Trustee.

  • U.S. Secured Parties the “Secured Parties” as defined in the U.S. Guarantee and Collateral Agreement.

  • Secured means, when referring to a Claim, a Claim secured by a Lien on property in which the applicable Estate has an interest, which Lien is valid, perfected, and enforceable pursuant to applicable law or by a Final Order, or that is subject to setoff pursuant to section 553 of the Bankruptcy Code, to the extent of the value of the applicable creditor’s interest in such Estate’s interest in such property or to the extent of the amount subject to setoff, as applicable, in each case, as determined pursuant to section 506(a) of the Bankruptcy Code.

  • U.S. Security Documents means, collectively, (a) the U.S. Security Agreement, (b) any security agreement executed and delivered after the Agreement Date by a Person that is or becomes a U.S. Obligor hereunder in accordance with Section 7.16, (c) the U.S. Intellectual Property Security Agreement, and (d) any Control Agreement or other agreements, instruments and documents heretofore, now or hereafter securing any of the U.S. Obligations.

  • U.S. Secured Obligations means all Secured Obligations of the US Loan Parties.

  • U.S. Security Agreement means the security and pledge agreement, dated as of the Original Closing Date (as amended, restated, supplemented or otherwise modified from time to time), executed in favor of the Administrative Agent and the other “Secured Parties” described therein by each of the Loan Parties party thereto.

  • Collateral Security means security, other than a security interest in a motor vehicle that is the subject of an installment sale contract, that is given to secure performance of an obligation of the buyer, or of any surety or guarantor for the buyer, under an installment sale contract. The term includes the undertakings of any surety or guarantor for the buyer and any interest in, encumbrance on, or pledge of real or personal property other than the motor vehicle that is the subject of the installment sale contract.

  • Second Priority Debt Obligations means the Initial Second Priority Debt Obligations and, with respect to any series, issue or class of Second Priority Debt, (a) all principal of, and interest (including, without limitation, any interest which accrues after the commencement of any Bankruptcy Case, whether or not allowed or allowable as a claim in any such proceeding) payable with respect to, such Second Priority Debt, (b) all other amounts payable to the related Second Priority Debt Parties under the related Second Priority Debt Documents and (c) any renewals or extensions of the foregoing.

  • First Priority Obligations means (a) with respect to the Existing First Priority Agreement, all “Obligations” of each Loan Party as defined in the Existing First Priority Agreement and (b) with respect to each other First Priority Agreement, all “Obligations” of each Loan Party as defined in such First Priority Agreement, and shall in any event include (i) all principal of and interest (including without limitation any Post-Petition Interest) and premium (if any) on all loans made or other indebtedness issued or incurred pursuant to such First Priority Agreement, (ii) all reimbursement obligations (if any) and interest thereon (including without limitation any Post-Petition Interest) with respect to any letter of credit or similar instruments issued pursuant to such First Priority Agreement, (iii) all Specified Swap Agreements, (iv) all Specified Cash Management Agreements and (v) all guarantee obligations, fees, expenses and other amounts payable from time to time pursuant to the applicable First Priority Documents, in each case whether or not allowed or allowable in an Insolvency Proceeding. To the extent any payment with respect to any First Priority Obligation (whether by or on behalf of any Loan Party, as proceeds of security, enforcement of any right of setoff or otherwise) is declared to be a fraudulent conveyance or a preference in any respect, set aside or required to be paid to a debtor in possession, any Second Priority Secured Party, receiver or similar Person, then the obligation or part thereof originally intended to be satisfied shall, for the purposes of this Agreement and the rights and obligations of the First Priority Secured Parties and the Second Priority Secured Parties, be deemed to be reinstated and outstanding as if such payment had not occurred.

  • Collateral Security Documents Any document or instrument given to secure or guaranty the Mortgage Loan, including without limitation, the Mortgage, each as amended, supplemented, assigned, extended or otherwise modified from time to time.

  • Senior Secured Credit Facility means the Loan and Security Agreement, dated as of May 31, 2017 by and among the Company and Western Alliance Bank (as amended, amended and restated, supplemented or otherwise modified from time to time, subject to the limitations herein).

  • Second Priority Obligations means (a) with respect to the Existing Second Priority Agreement, all “Secured Obligations” of each Loan Party as defined in the “Security Agreement” referred to in the Existing Second Priority Agreement and (b) with respect to each other Second Priority Agreement, (i) all principal of and interest (including without limitation any Post-Petition Interest) and premium (if any) on all indebtedness under such Second Priority Agreement, and (ii) all guarantee obligations, fees, expenses and other amounts payable from time to time pursuant to the applicable Second Priority Documents, in each case whether or not allowed or allowable in an Insolvency Proceeding. To the extent any payment with respect to any Second Priority Obligation (whether by or on behalf of any Loan Party, as proceeds of security, enforcement of any right of setoff or otherwise) is declared to be a fraudulent conveyance or a preference in any respect, set aside or required to be paid to a debtor in possession, any First Priority Secured Party, receiver or similar Person, then the obligation or part thereof originally intended to be satisfied shall, for the purposes of this Agreement and the rights and obligations of the First Priority Secured Parties and the Second Priority Secured Parties hereunder, be deemed to be reinstated and outstanding as if such payment had not occurred.

  • Note Obligations means the Notes, the Guarantees and all other obligations of any obligor under this Indenture, the Notes, the Guarantees and the Security Documents.

  • Issuer Secured Obligations means all amounts and obligations which the Issuer may at any time owe to or on behalf of the Indenture Trustee for the benefit of the Indenture Trustee and the Noteholders under this Indenture, the Notes or the other Basic Documents.

  • Related Secured Obligations means, as of any date, the outstanding principal amount of the Related Equipment Notes issued under each Related Indenture, the accrued and unpaid interest (including, to the extent permitted by applicable law, post-petition interest and interest on any overdue amounts) due thereon in accordance with such Related Indenture as of such date, the Related Make-Whole Amount, if any, with respect thereto due thereon in accordance with such Related Indenture as of such date, and any other amounts payable as of such date under the “Operative Documents” (as defined in each Related Indenture).

  • Senior Secured Credit Facilities means the amended and restated senior secured credit facilities dated November 30, 2016 among Studio City Company Limited, the guarantors named therein, the financial institutions named as lenders therein and the agent for such lenders, including any related notes, guarantees, collateral documents, instruments and agreements executed in connection therewith, as such facilities may be amended, restated, modified, renewed, supplemented, replaced or refinanced from time to time.

  • Indenture Obligations means the obligations of the Company and any other obligor under this Supplemental Indenture or under the Notes, including any Guarantor, to pay principal of, premium, if any, and interest when due and payable, and all other amounts due or to become due under or in connection with this Supplemental Indenture, the Notes and the performance of all other obligations to the Trustee and the Holders under this Supplemental Indenture and the Notes, according to the terms hereof or thereof.

  • Loan Obligations means (a) the due and punctual payment by the Borrower of (i) the unpaid principal of and interest (including interest accruing during the pendency of any bankruptcy, insolvency, receivership or other similar proceeding, regardless of whether allowed or allowable in such proceeding) on the Loans made to the Borrower under this Agreement, when and as due, whether at maturity, by acceleration, upon one or more dates set for prepayment or otherwise, (ii) each payment required to be made by the Borrower under this Agreement in respect of any Letter of Credit, when and as due, including payments in respect of reimbursement of disbursements, interest thereon (including interest accruing during the pendency of any bankruptcy, insolvency, receivership or other similar proceeding, regardless of whether allowed or allowable in such proceeding) and obligations to provide Cash Collateral and (iii) all other monetary obligations of the Borrower owed under or pursuant to this Agreement and each other Loan Document, including obligations to pay fees, expense reimbursement obligations and indemnification obligations, whether primary, secondary, direct, contingent, fixed or otherwise (including monetary obligations incurred during the pendency of any bankruptcy, insolvency, receivership or other similar proceeding, regardless of whether allowed or allowable in such proceeding), and (b) the due and punctual payment of all obligations of each other Loan Party under or pursuant to each of the Loan Documents.

  • Debt Obligations means any debt obligations issued or guaranteed by the Government of Japan.

  • Canadian Security Documents means the Canadian Security Agreement, any share pledge agreement governed by Canadian law which provides for a Lien in favor of the Agent as security for any of the Obligations, and each other agreement, document or instrument executed by any Loan Party governed by Canadian law which provides for a Lien in favor of the Agent as security for any of the Obligations.

  • Prepetition Secured Parties means the “Secured Parties” under, and as defined in, the Prepetition Credit Agreement, in each case as amended, modified or supplemented through the Petition Date.

  • General Security Agreement means the general security agreement dated on or about the date hereof given by Borrower in favour of Lender in respect of the Obligations.

  • Collateral has the meaning specified in the Granting Clause of this Indenture.

  • UK Security Documents means the UK Pledge Agreements and the UK Debenture.

  • Prepetition Collateral means the collateral securing the Prepetition BP Secured Claim, including, without limitation, the Posted Collateral.

  • Permitted Security Interest means any Security Interest: