Definition of Tenancy-in-Common Agreement


Tenancy-in-Common Agreement means any future agreement, approved by Lender, executed between owners of the Mortgaged Property as Tenants-in-Common.
Sample 1 Sample 2 Sample 3

Examples of Tenancy-in-Common Agreement in a sentence

Borrower hereby agrees that it will cause Co-Tenant Representative to notify Lender in writing within ten (10) days of a default by one or more of the parties under the Tenancy-in-Common Agreement.
It is specifically agreed by Borrower and each Co-Tenant that the Tenancy-in-Common Agreement and all rights, remedies and indemnities benefiting Borrower or each Co-Tenant thereunder, the Mortgaged Property or the ownership or operation thereof are hereby expressly made fully junior, secondary, subject and subordinate to the rights and remedies of Lender under the Loan Documents, including any future advances made by Lender.
Tenancy-in-Common Agreement is in full force and effect and there are no defaults thereunder, nor has any event occurred that with the passage of time, the giving of notice or both would result in such a default.
Co-Tenant has executed and delivered the Tenancy-in-Common Agreement and is currently a party thereto.
Fannie Mae 08-13 (c) 2013 Fannie Mae 16.03 Subordination of the Tenancy-in-Common Agreement.