First Mortgage. The term “
First Mortgage. The Mortgagor covenants and stipulates that this mortgage is in first position and there is no other financing hereto.
First Mortgage. (i) TABLE OF CONTENTS (Continued) Page
First Mortgage. First Mortgage" shall mean a recorded Mortgage with priority over other Mortgages.
First Mortgage. Lessee’s rights under this option are and shall be subject and subordinate to any mortgage (including a consolidated mortgage), indenture or deed of trust constituting a first lien on the School Site, or any part thereof, whether such mortgage, indenture or deed of trust has heretofore been, or may hereafter be, placed upon the School Site to secure an indebtedness to any savings bank, bank, trust company, or other institutional lender, private or public for the purchase or improvement to the School Site, and to any renewal, modification, consolidation, replacement, or extension of any such mortgage or deed of trust. This subordination is limited and relates only to a first mortgage securing an indebtedness that will not on any Option Date exceed the price at which this option may then be exercised on that date, as herein provided. This subordination shall be self-operative and no further instrument of subordination shall be required. Lessee shall, nevertheless, execute and deliver, from time to time, any instrument and certificate affirming and confirming such subordination that Lessor may reasonably request. Lessor will cause any such mortgage or deed of trust to contain provisions requiring the holder of the indebtedness secured by mortgage or deed of trust to mail to Lessee by registered mail, addressed to Lessee at its office as set forth in this Agreement, a copy of each notice of breach of covenant, default, or foreclosure given by the holder or the trustee under such mortgage or deed of trust to Lessor. Lessee may, upon receiving notice of breach of covenant, default, or foreclosure under any such mortgage or deed of trust as herein provided exercise the Option at the option price as defined in Section 6.4 hereof.
First Mortgage. The occurrence of a default under that certain first mortgage lien on the Lxxx Lakes Property beyond any applicable notice and/or cure period thereunder.
First Mortgage. 6.95% BOND, DUE 2011, SERIES TT DUE APRIL 1, 2011 ROCHESTER GAS AND ELECTRIC CORPORATION, a corporation organized and existing under the laws of the State of New York (hereinafter called the Company), for value received, hereby promises to pay to or registered assigns on April 1, 2011, at the office or agency of the Company in the Borough of Manhattan, The City of New York, Dollars in such coin or currency of the United States of America as at the time of payment is legal tender for the payment of public and private debts, and to pay at said office or agency, in like coin or currency, interest thereon, semi- annually on April 1 and October 1 of each year, at the rate of 6.95 percent (6.95%) per annum, computed on the basis of a 360-day year of twelve 30-day months, from the April 1 or October 1, as the case may be, next preceding the date hereof to which interest has been paid, unless the date hereof is a date to which interest has been paid, in which case from the date hereof, or unless the date hereof is prior to October 1, 2001 in which case from April 6, 2001, until this bond shall mature according to its terms or on prior redemption or by declaration or otherwise, and, after the date of such maturity, at the same rate of interest borne prior to maturity by the principal hereof from such date of maturity until this bond shall be paid or payment hereof shall have been duly provided for, and (to the extent that payment of such interest is enforceable under applicable law) to pay interest on any overdue installment of interest at the same rate of interest borne by the principal hereof. The interest so payable on any April 1 and October 1 will, subject to certain exceptions provided in the Mortgage referred to on the reverse hereof, be paid to the person in whose name this bond (or the bond or bonds in exchange or substitution for which this bond was issued) was registered at the close of business on the 15th day of the calendar month next preceding such April 1 and October 1. The provisions of this bond are continued on the reverse hereof and such continued provisions shall for all purposes have the same effect as though fully set forth at this place. This bond shall not become valid or obligatory for any purpose until Bankers Trust Company, or its successor as Trustee under the Mortgage, shall have signed the certificate of authentication hereon.
First Mortgage. First Mortgage" shall mean a Mortgage which takes priority or precedence over all other charges or encumbrances upon the same Real Property and which must be satisfied before such other charges or encumbrances are entitled to participate in the proceeds of any sale or disposition. Such Mortgage may be upon a lessee's interest in Real Property. Such priority shall not be deemed as abrogated by liens for taxes, assessments which are not delinquent or remain payable without penalty, contracts (other than contracts for repayment of borrowed moneys), leases, mechanic's and materialman's liens for work performed and materials furnished which are not in default or are in good faith being contested, and other claims and interests normally deemed in the local jurisdiction not to abrogate the priority of a first mortgage.
First Mortgage. First Mortgage" means any Mortgage which constitutes a first mortgage lien on the Premises (but shall not include the Pilot Mortgage constituting part of the Project Documents), and "First Mortgagee" means each Mortgagee which is the beneficiary of a First Mortgage. Tenant acknowledges in respect of each First Mortgage, that the First Mortgagee thereunder is a direct assignee of the Landlord's interest under this Lease pursuant to an absolute assignment of this Lease and all rents and other amounts payable hereunder, and agrees, for the benefit of the First Mortgagee thereunder, (i) that all payments of Minimum Rent and Additional Rent owing to Landlord, all property insurance proceeds and all condemnation awards (subject to the provisions of Sections 21 and 22 concerning application thereof), all amounts payable in consideration for or in respect of any termination of this Lease prior to the end of the then current Term, and all amounts payable in respect of any conveyance of the Premises to Tenant pursuant to any provision of this Lease, shall be made as set forth in a written direction given by Landlord to Tenant and approved in writing by the First Mortgagee, (ii) that Tenant shall not be credited with any such payment not made as set forth in said direction, (iii) that, except as otherwise stated in said direction or in the First Mortgage or any assignment of this Lease in connection with the First Mortgage, no consent, approval or determination permitted to be given or made by Landlord, and no right, power or remedy permitted to be exercised by Landlord, under this Lease may be given, made or exercised (as the case may be) without the prior written consent of the First Mortgagee (provided that any exercise by First Mortgagee of any such consent, approval, determination, right, power or remedy of Landlord shall be subject to the same standards as are provided in this Lease for exercise thereof by Landlord), and (iv) that no subsequent direction by Landlord shall be honored by Tenant until Tenant receives written notice from the First Mortgagee that either (A) said First Mortgage has been released of record or (B) the First Mortgagee has consented to such subsequent direction. At the request of Landlord, in respect of each First Mortgage, and for the benefit of the First Mortgagee thereunder, Tenant shall execute such written instrument as the First Mortgagee may reasonably require acknowledging the foregoing.
First Mortgage. 2012 MORTGAGOR: BW HVAC Real Estate Holdings, LLC ___________________________ ___________________________ MORTGAGEE : Standex International Corporation 00 Xxxxxxxxx Xxxxx, Xxxxx 000 Xxxxx, XX 00000 MATURITY TERM: Five (5) Years AMOUNT OF MORTGAGE: The maximum principal amount of the principal amount of the Note secured by this mortgage is Five Hundred Thousand Dollars and No Cents ($500,000.00), plus interest and all fees and costs incurred by Mortgagee in enforcing its rights hereunder. ORIGINAL NOTE PRINCIPAL AMOUNT: Three Million and 00/100 ($3,000,000.00) Dollars NOTE: A certain Promissory Note of even date executed by the Mortgagor as Maker, in an amount equal to the Original Principal Amount plus interest. MORTGAGED PREMISES: Real property known and numbered as 000 Xxxxxxxxxx Xxxxxx, Xxxxxx, New York, owned by the Mortgagor and more particularly described in Exhibit "A" annexed hereto and incorporated herein by reference. Mortgagor, for consideration paid, hereby grants the Mortgaged Premises to Standex International Corporation, as Mortgagee, a corporation organized pursuant to the laws of the State of Delaware with a principal place of business at 00 Xxxxxxxxx Xxxxx, Xxxxx 000, Xxxxx, Xxx Xxxxxxxxx 00000 WITH MORTGAGE COVENANTS to secure the following (collectively, the “Indebtedness”):
