First Leasehold Mortgage definition

First Leasehold Mortgage and “First Leasehold Mortgagee” are defined in Section 21.2.
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First Leasehold Mortgage means, when there is more than one Leasehold Mortgage, the Leasehold Mortgage that is a first mortgage lien on Xxxxxx's interest hereunder and the leasehold estate created hereby or, if there is only one Leasehold Mortgage, then that Leasehold Mortgage. ​
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First Leasehold Mortgage means at any time the Leasehold Mortgage on the entire Premises which is then prior of record to all other Leasehold Mortgages on the Premises.
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Examples of First Leasehold Mortgage in a sentence

  • In that event Lessee shall, at its own cost and expense and subject to the terms and conditions of any First Leasehold Mortgage, make all repairs to Improvements on the Real Property affected by such taking or condemnation to the extent necessary to restore the same to a complete architectural unit (to the extent permitted, however, taking into consideration the amount of land remaining after any such taking or purchase).

  • Compensation available or paid to Lessor or Lessee upon such a partial taking or condemnation shall be paid to Xxxxxx, subject to the terms and conditions of any First Leasehold Mortgage, to the extent that such compensation is attributable to the taking of Xxxxxx’s leasehold interest and the remainder shall be paid to Lessor.

  • That certain leasehold deed of trust executed by Xxxxxx in favor of Xxxxx Fargo Bank, National Association on or about the date hereof (the "Xxxxx Fargo Mortgage") is a "Permitted Leasehold Mortgage" hereunder, and so long as the loan secured by such mortgage remains outstanding, such mortgage is also a "First Leasehold Mortgage" and such lender is a "First Leasehold Mortgagee," as such terms are used hereunder.

  • First Leasehold Mortgage, Second Leasehold Mortgage, Third Leasehold Mortgage, Fourth Leasehold Mortgage and Fifth Leasehold Mortgage.

  • If a First Leasehold Mortgage and a Permitted Leasehold Mortgage that is second in priority in lien or interest among those in effect are both held by the same Permitted Leasehold Mortgagee, the two Permitted Leasehold Mortgages are collectively referred to as the “First Leasehold Mortgage”.

  • The Permitted Leasehold Mortgage that is prior in lien or interest among those in effect is referred to as the “First Leasehold Mortgage”, and the holder of or secured party under the First Leasehold Mortgage is referred to as the “First Leasehold Mortgagee”.


More Definitions of First Leasehold Mortgage

First Leasehold Mortgage means the Leasehold Mortgage that is prior in lien to all other Leasehold Mortgages.
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First Leasehold Mortgage. As defined in the Facility Lease.
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First Leasehold Mortgage means either (x) at such times as only one Leasehold Mortgage exists, such Leasehold Mortgage, and (y) at such times as more than one Leasehold Mortgage exists, the single Leasehold Mortgage that is most senior in lien (as evidenced from time to time by any title report obtained by Landlord from a reputable title company reasonably selected by Landlord).
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First Leasehold Mortgage. That certain Line of Credit Leasehold Deed of Trust and Security Agreement of even date herewith granted by the Lessee to the Lessor, securing the Lessee's obligations under the Lessee's Guaranty.
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First Leasehold Mortgage means that certain Leasehold Mortgage, ------------------------ Assignment of Rents, Security Agreement and Fixture Filing dated as of the date hereof, by Operator to the First Mortgage Lender.
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Related to First Leasehold Mortgage

  • Leasehold Mortgage means any leasehold deed of trust, mortgage, deed to secure debt, assignment of leases and rents, assignment, security agreement, or other security document securing financing from a lender of Tenant and encumbering Tenant’s leasehold interest in any Demised Property.

  • Leasehold Mortgagee means the holder of a Leasehold Mortgage.

  • Ground Lease means a lease creating a leasehold estate in real property where the fee owner as the ground lessor conveys for a term or terms of years its entire interest in the land and buildings and other improvements, if any, comprising the premises demised under such lease to the ground lessee (who may, in certain circumstances, own the building and improvements on the land), subject to the reversionary interest of the ground lessor as fee owner. With respect to any Mortgage Loan where the Mortgage Loan is secured by a Ground Leasehold estate in whole or in part, and the related Mortgage does not also encumber the related lessor’s fee interest in such Mortgaged Property, based upon the terms of the Ground Lease and any estoppel or other agreement received from the ground lessor in favor of Mortgage Loan Seller, its successors and assigns (collectively, the “Ground Lease and Related Documents”), Mortgage Loan Seller represents and warrants that:

  • Existing Mortgage has the meaning specified in Section 5.02(a)(vi).

  • New Lease Any lease of REO Property entered into on behalf of the Trust, including any lease renewed or extended on behalf of the Trust if the Trust has the right to renegotiate the terms of such lease.

  • Fee Mortgage Any mortgage, pledge agreement, security agreement, assignment of leases and rents, fixture filing or similar document creating or evidencing a lien on Landlord’s interest in the Leased Property or any portion thereof (or an indirect interest therein, including without limitation, a lien on direct or indirect interests in Landlord) in accordance with the provisions of Article XXXI hereof.

  • Superior Lease means the document which sets out the obligations your Landlord has made to their Superior Landlord. The promises contained in this Superior Lease will bind the Tenant if they have prior knowledge of those promises.

  • Space Lease The space or occupancy lease pursuant to which any Borrower holds a leasehold interest in the related Mortgaged Property, together with any estoppels or other agreements executed and delivered by the lessor in favor of the lender under the related Mortgage Loan(s).

  • Reverse mortgage means a nonrecourse loan under which both of the following apply:

  • Tenant Lease means any lease entered into by the Borrower, any Loan Party or any Subsidiary with respect to any portion of a Property.

  • Ground Leases Those certain leases with respect to real property that is a portion of the Leased Property, pursuant to which Landlord is a tenant and which leases have either been approved by Tenant or are in existence as of the date hereof and listed on Schedule A hereto.

  • Deed of Trust means this Deed of Trust, Assignment, Security Agreement and Fixture Filing, as the same may from time to time be extended, amended, restated, supplemented or otherwise modified.

  • Real Estate Leases has the meaning set forth in Section 2.1(d)(ii).

  • Financing Lease any lease of property, real or personal, the obligations of the lessee in respect of which are required in accordance with GAAP to be capitalized on a balance sheet of the lessee.

  • Cooperative Lease With respect to a Cooperative Loan, the proprietary lease or occupancy agreement with respect to the Cooperative Apartment occupied by the Mortgagor and relating to the related Cooperative Stock, which lease or agreement confers an exclusive right to the holder of such Cooperative Stock to occupy such apartment.

  • Approved Lease means (a) each existing Lease as of the Closing Date as set forth in the Leasing Affidavit and (b) each Lease entered into after the Closing Date in accordance with the terms and conditions contained in Section 9.09 as such leases and related documents shall be Modified as permitted pursuant to the terms of this Agreement.

  • Second Mortgage means a mortgage from which the proceeds of a loan or other extension of credit made by a third person are secured by a mortgage on the real property for which the mortgagor has used the proceeds of the loan or other extension of credit to pay all or part of the purchase price of the property.

  • Material Leasehold Property means a Leasehold Property reasonably determined by Administrative Agent to be of material value as Collateral or of material importance to the operations of Company or any of its Subsidiaries.

  • Ground Lessor means, as to any Site, the “lessor,” “sublessor,” “landlord,” “licensor,” “sublicensor” or similar Person under the related Ground Lease.

  • Recorded Leasehold Interest means a Leasehold Property with respect to which a Record Document has been recorded in all places necessary or desirable, in the Collateral Agent’s reasonable judgment, to give constructive notice of such Leasehold Property to third-party purchasers and encumbrances of the affected real property.

  • Leasehold Property means any leasehold interest of any Loan Party as lessee under any lease of real property.

  • Operating Lease of a Person means any lease of Property (other than a Capitalized Lease) by such Person as lessee which has an original term (including any required renewals and any renewals effective at the option of the lessor) of one year or more.

  • mortgage agreement ’ means the note or debt instrument and the mortgage instrument, deed of trust instrument, trust deed, or instru- ment or instruments creating the mortgage, including any instrument incorporated by ref- erence therein (including any applicable regu- latory agreement), and any instrument or agreement amending or modifying any of the foregoing;

  • Master Lease means that certain [Master Lease title], relating to the leasing of, inter alia, the Healthcare Facility by Borrower to Master Tenant.

  • Master Leases refers to the four second amended and restated master lease agreements, dated as of April 27, 2007, by and among the Operating Partnership and Kindred Healthcare, Inc. and Kindred Healthcare Operating, Inc.

  • Leaseholder means a grantee or a person or other legal entity holding a valid lease or licence of occupation with the federal Crown for the use or occupation of land in Jasper National Park, and shall mean Canadian National Railway in respect of lots or land parcels held by Canadian National Railway, and shall mean Jasper National Park of Canada in respect to lots or land parcels held by the Crown;