Lessee Mortgage definition

Lessee Mortgage is defined in the ninth recital to the Participation Agreement, the provisions for which shall be contained in each Lease Supplement.
Sample 1
Lessee Mortgage means, with respect to the Facility, a mortgage made by Agent in favor of or, for the benefit of, Owner Trust in form and substance reasonably satisfactory to Administrative Agent, Owner Trust and Agent, to be entered into on the Closing Date.
Sample 1
Lessee Mortgage means with respect to the Project, a mortgage, substantially in the form of Exhibit H hereto, pursuant to which the Lessee grants a first priority Lien on the Lessee's interest in the Project to the Company.
Sample 1

Examples of Lessee Mortgage in a sentence

  • Borrower shall not and shall not permit Senior Mezzanine Borrower, Ashford Keys Senior Mezzanine Operating Lessee, Mortgage Borrower or Operating Lessee to issue any membership interests or other securities other than those that have been issued as of the date hereof.

  • The Lessor and the Administrative Agent may foreclose the Lien of the Lessee Mortgage on all or any portion of the Facility and other Collateral.

  • Borrower shall give prompt written notice to Administrative Agent of any litigation or governmental proceedings pending or threatened in writing against Borrower, Hotel Lessee, Mortgage Borrower or Guarantor which would reasonably be expected to have a Material Adverse Effect.

  • Subject to Borrower’s right of contest (and to cause Mortgage Borrower or Hotel Lessee to contest) in accordance with Section 9.3, Borrower shall at all times comply and cause the Mortgage Borrower, Hotel Lessee and the Property to be in compliance in all material respects with all Legal Requirements applicable to Borrower, Hotel Lessee, Mortgage Borrower and the Property and the uses permitted upon the Property.

  • Borrower is not a party to any agreement or instrument or subject to any restriction which would reasonably be expected to materially and adversely affect Borrower, Operating Lessee, Mortgage Borrower, the Pledged Collateral or the Property, or Borrower’s or Mortgage Borrower’s or Operating Lessee’s business, properties or assets, operations or condition, financial or otherwise.

  • Neither Borrower, Hotel Lessee nor Mortgage Borrower has received any written notice that Borrower, Hotel Lessee or Mortgage Borrower is in default in the performance, observance or fulfillment of any of the obligations, covenants or conditions contained in any agreement or instrument to which it is a party or by which Borrower, Hotel Lessee, Mortgage Borrower, the Collateral or the Property is bound and which would reasonably be expected to have a Material Adverse Effect.

  • Borrower shall not and shall not permit Senior Mezzanine Borrower, Ashford Keys Senior Operating Lessee Mortgage Borrower or Operating Lessee to issue any membership interests or other securities other than those that have been issued as of the date hereof.

  • Upon Administrative Agent’s reasonable request, Borrower shall, and shall cause Mortgage Borrower and Hotel Lessee to, provide such other information necessary and sufficient to fairly represent the financial condition of Borrower, Hotel Lessee, Mortgage Borrower and the Property.

  • Each Lender acknowledges and agrees that its right to transfer its interest in the Loan is further restricted by, and subject to the terms and provisions of, the Intercreditor Agreement and that no Lender shall transfer or pledge any portion of its respective interest in the Loan to Borrower, Hotel Lessee, Mortgage Borrower or any of their respective “Affiliates” (as such term is defined in the Intercreditor Agreement) in violation of the Intercreditor Agreement.

  • None of Borrower, SPE Constituent Entity, Hotel Lessee, Mortgage Borrower, or Mortgage Borrower SPE Constituent Entity has entered into or is bound by any Material Contract which continues in existence except those listed on Schedule VI attached hereto.


More Definitions of Lessee Mortgage

Lessee Mortgage has the meaning set forth in Section 11.01 of the Lease.
Sample 1
Lessee Mortgage has the meaning set forth in paragraph 20(d) of the Lease.
Sample 1

Related to Lessee Mortgage

  • 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.

  • 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.

  • Mortgagee The mortgagee or beneficiary named in the Mortgage and the successors and assigns of such mortgagee or beneficiary.

  • Facility Mortgage As defined in Section 13.1.

  • Lessor Lien means, with respect to any person and in respect of any property (including, without limitation, the Trust Estate, the Trust Indenture Estate, the Aircraft, Airframe, Engines, Parts or Aircraft Documents) or any payments, any Lien on such property or payments which (a) arises from claims against such person (if such person is a trustee, whether in its individual capacity or in its capacity as a trustee) not related to any of the transactions contemplated by the Operative Agreements, (b) results from acts or omissions of such person (if such person is a trustee, whether in its individual capacity or in its capacity as a trustee) in violation of such person's obligations under any of the terms of the Operative Agreements, or not related to the transactions contemplated by the Operative Agreements, (c) is imposed as a result of Taxes against such person (if such person is a trustee, whether in its individual capacity or in its capacity as a trustee) or any of its Affiliates not required to be indemnified by Lessee under the Participation Agreement, or (d) claims against such person arising out of any transfer by such person of its interest in the Aircraft, the Trust Estate or the Operative Agreements, other than a Transfer permitted by the terms of the Operative Agreements or pursuant to the exercise of remedies set forth in Section 15 of the Lease.

  • Facility Mortgagee means the holder of any Facility Mortgage.

  • Lessor means a person who transfers the right to possession and use of goods under a lease. Unless the context clearly indicates otherwise, the term includes a sublessor.

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

  • 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.

  • Leasehold Mortgagee means the holder of a Leasehold Mortgage.

  • Mortgagor The obligor on a Mortgage Note.

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

  • 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:

  • Mortgaged Property shall have the meaning assigned to such term in the recitals.

  • Mortgage shall have the meaning assigned to such term in the recitals.

  • Leased Property shall have the meaning given such term in Section 2.1.

  • Aircraft Mortgage means each Aircraft and Engine mortgage and security agreement entered into by any Borrower in favor of the Agent evidencing the Liens in respect of such Aircraft Collateral that will secure the Obligations, in each case as amended, modified, restated, supplemented or replaced from time to time.

  • Ground Lessor means the lessor under the Ground Lease.

  • Lessee means a person who acquires the right to possession and use of goods under a lease. Unless the context clearly indicates otherwise, the term includes a sublessee.

  • 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.

  • 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.

  • Superior Landlord means and includes people or persons to whom the ownership or interest in the Leasehold Property might revert in the fullness of time.

  • 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.

  • Blanket Mortgage The mortgage or mortgages encumbering a Cooperative Property.

  • Security Instrument means the multifamily mortgage, deed to secure debt or deed of trust effective as of the effective date of this Note, from Borrower to or for the benefit of Lender and securing this Note.