Recordation of Mortgages. Each original Mortgage was recorded and all subsequent assignments of the original Mortgage (other than the assignment to the Purchaser) have been recorded, or are in the process of being recorded, in the appropriate jurisdictions wherein such recordation is necessary to perfect the lien thereof as against creditors of the Seller. As to any Mortgage Loan which is not a MERS Mortgage Loan, the Assignment of Mortgage is in recordable form (except for the name of the assignee which is blank) and is acceptable for recording under the laws of the jurisdiction in which the Mortgaged Property is located;
Recordation of Mortgages. Upon request of the Trustee or the Master Servicer under the Pooling and Servicing Agreement, at the Seller's expense, the Seller shall use its best efforts and cooperate in the preparation, execution and recording of assignments of Mortgages related to the Mortgage Loans required to protect the interests of the Trustee in the Mortgage Loans and the Mortgaged Property.
Recordation of Mortgages. (a) The Master Servicer will maintain a recorded first or subordinate lien, as applicable, on each Mortgaged Property so long as the related Mortgage Loan is the property of the Trust (except as it may be limited by the absence of a duly recorded mortgage assignment). Within 90 days of the Closing Date, the Master Servicer will record assignments to the Trustee of the lien on any Mortgaged Property (or, where permitted, assignments of the liens on any group of Mortgaged Properties), at its sole expense, unless an opinion(s) of counsel is delivered by the Master Servicer to the Trustee to the effect that recordation of an assignment is not required to protect the interests of the Trustee in a Mortgage Loan and the related Mortgaged Property or in a group of Mortgage Loans (and the related Mortgage Properties). If, at a later date, the Trustee is advised by counsel to the effect that recordation of an assignment is required to protect the interests of the Trustee in the Mortgage Loan or the related Mortgaged Property, the Master Servicer will record such assignments to the Trustee within sixty (60) days, at CIT Consumer Finance's sole expense. The Trustee shall cooperate with CIT Consumer Finance by executing such instruments prepared by or at the direction of CIT Consumer Finance, as CIT Consumer Finance shall request to facilitate recordation of the assignments. If a Responsible Officer of the Trustee receives notice or has actual knowledge that CIT Consumer Finance has failed to record such assignments of Mortgages as provided above, the Trustee shall either (i) prepare such assignments in recordable form and record such assignments in favor of the Trustee within sixty (60) days at the expense of CIT Consumer Finance or (ii) obtain opinions of counsel to the effect that recordation of assignments is not required to protect the interests of the Trustee in the Mortgage Loans and the related Mortgaged Property at the expense of CIT Consumer Finance. CIT Consumer Finance hereby agrees to cooperate in the preparation, execution and recording of such assignments.
Recordation of Mortgages. No Borrower-Related Party shall record or cause to be recorded any Mortgage in the name of Administrative Agent or any Lender unless Administrative Agent has approved the form of such Mortgage.
Recordation of Mortgages. The Company shall cause the recordation of the Mortgages on every parcel of real property, or any interest therein held by the Company or any Subsidiary within 60 days of the Closing Date, and shall provide evidence thereof to each Purchaser. Each such Mortgage shall be subject only to statutory liens, routine encumbrances on title such as easements, and the prior lien of JPMorgan Chase Bank, NA. The Company shall also record a Mortgage on every parcel of or interest in real property acquired after the Closing Date through the earlier of the Maturity Date or the date that less than $2,000,000 principal amount of Debentures remain outstanding at the same time as a Mortgage is recorded on such parcel or interest for the benefit of JPMorgan Chase Bank, NA or any successor senior lender to the Company.
Recordation of Mortgages. 54 SECTION 4.03. Review of Mortgage Documents.................................55 -i- Table of Contents (continued)
Recordation of Mortgages. SECTION 4.01. Delivery of Mortgage Documents; Custody of Mortgage Loans.
Recordation of Mortgages. Borrower shall have obtained the Mortgages on the Mortgaged Properties and/or the Alternate Properties in accordance with the requirements of Section 2.7, and such Mortgages shall have been duly recorded or a lien on the alternate collateral as described in Section 2.7.4 shall have been duly filed or recorded.
Recordation of Mortgages. 96 Annexes: Annex A Pricing Grid
Recordation of Mortgages. The Administrative Agent may record and file at any time in its discretion or at the direction of the Majority Lenders any Mortgage delivered to it pursuant to this Agreement in order to perfect or record the Lien granted pursuant to such Mortgage. The Parent Borrowers shall reimburse the Administrative Agent for any recording fees or other costs and expenses incurred by the Administrative Agent in recording such Mortgages and hereby request that Revolving Loans (which shall be made as Base Rate Loans) in an aggregate principal amount sufficient to pay from time to time any such recording fees or other costs and expenses be made and the Administrative Agent shall retain the proceeds of such Revolving Loans in satisfaction of the Parent Borrowers' obligation to reimburse such fees, costs and other expenses.
