Underlying Mortgaged Property definition

Underlying Mortgaged Property. With respect to each Co-op Loan, the underlying real property owned by the related residential cooperative housing corporation.

Underlying Mortgaged Property means, in the case of:

Underlying Mortgaged Property. In the case of any:

Examples of Underlying Mortgaged Property in a sentence

• Copies of all recorded documents affecting the Underlying Mortgaged Property 23.

• Subject to Section 2.7, if the Seller has a good faith basis to dispute any determination of the Market Value (or the market value of an Underlying Mortgaged Property for the purposes of determining LTV) by the Deal Agent, the Seller may notify the Deal Agent of such dispute within three (3) Business Days after any such determination thereof by the Deal Agent.

• The Underlying Mortgaged Property is undamaged by waste, fire, earthquake or earth movement, windstorm, flood, tornado or other casualty so as to affect adversely the value of the Underlying Mortgaged Property as security for the mortgage loan on such Underlying Mortgaged Property (the “Cooperative Mortgage”) or the use for which the premises were intended.

More Definitions of Underlying Mortgaged Property

Underlying Mortgaged Property. With respect to a Loan Obligation that is (i) a Whole Loan, the commercial mortgage property or properties securing the Whole Loan and (ii) a Senior Participation, the commercial mortgage property or properties securing the Underlying Whole Loan.

Underlying Mortgaged Property. Each parcel of real property securing a Mortgage Loan, including the buildings, structures, fixtures (to the extent not property of the related Tenant), additions, enlargements, extensions, modifications, repairs, replacements or Improvements now or hereinafter erected or located on such parcel and appurtenant easements and other property rights relating thereto.

Underlying Mortgaged Property means in the case of any:

Underlying Mortgaged Property means (a) in the case of a Whole Loan, the Mortgaged Property securing the Whole Loan, (b) in the case of a Junior Interest, the Mortgaged Property securing such Junior Interest (if the Junior Interest is of the type described in clause (b) of the definition thereof), or the Mortgaged Property securing the mortgage loan in which such Junior Interest represents a participation (if the Junior Interest is of the type described in clause (a) of the definition thereof), (c) in the case of a Mezzanine Loan or a Junior Interest in a Mezzanine Loan, the Mortgaged Property that is owned directly or indirectly by the Person the Equity Interests of which are pledged as collateral security for such Mezzanine Loan, (d) in the case of a Bridge Loan, a Condominium Loan or a Land Loan, depending on such Bridge Loan’s, a Condominium Loan’s or a Land Loan’s classification as a Whole Loan, Junior Interest or Mezzanine Loan, the Underlying Mortgaged Property for the Whole Loan, Junior Loan or Mezzanine Loan, as applicable, (e) in the case of a Preferred Equity Interest, the Mortgaged Property that is owned directly or indirectly by the Preferred Equity Grantor and (f) in the case of an Equity Asset, the Mortgaged Property that is owned directly or indirectly by the Equity Asset Grantor.

Underlying Mortgaged Property means the real property encumbered by an Underlying Mortgage relating to a Mortgage Loan.

Underlying Mortgaged Property means, individually or collectively, as the context may require, the mortgaged property securing the Underlying Loan.

Underlying Mortgaged Property means any underlying real property constituting part of the Underlying Collateral for any Underlying Loan, whether held in fee simple estate or subject to a ground lease or otherwise, and whether or not improved by buildings or facilities, and any personal property, fixtures, leases and other property or rights pertaining thereto.