Original Mortgages definition

Original Mortgages means the Individual Mortgages and the Corporate Mortgages to be sold by the Warehousers to the Seller and by the Seller to the Issuer on the Closing Date pursuant to this Agreement, brief details of which are set out in, respectively, Part A and Part B of the Annexure to this Agreement.

Original Mortgages has the meaning set forth in the Recitals.

Original Mortgages means all Mortgages granted by the Credit Parties pursuant to the Original Credit Agreement and which have not been released by the lenders thereunder prior to the Restatement Effective Date.

Examples of Original Mortgages in a sentence

• The conveyance and the granting of liens in the Original Mortgages is hereby ratified, adopted, confirmed, and renewed.

• In addition, as stated in the Recitals to this Mortgage, this Mortgage constitutes for all purposes an amendment and restatement of the Original Mortgages and not a new or substitute security instrument.

• Pursuant to the Confirmation Order, the Original Mortgages have been consolidated.

• The Original Mortgages and the respective liens thereof, as spread in accordance with Paragraph A above, are hereby combined and consolidated so that together they shall hereafter constitute in law but one mortgage, a single lien, covering the Property and securing the aggregate principal sum of EIGHTY TWO MILLION and No/100 Dollars ($82,000,000.00), together with interest thereon as provided in the Note.

• The obligations contained in the Original Note and the Original Mortgages have been renewed, consolidated, amended and restated in this Mortgage so that together they shall constitute in law, but one mortgage, a single, first mortgage upon the Property described in Exhibit "A-1" through "A-26" securing to Lender the repayment of the obligations as limited herein.

More Definitions of Original Mortgages

Original Mortgages means the Individual Mortgages and the Corporate Mortgages to be sold by PML to the Issuer on the Closing Date pursuant to this Agreement, brief details of which are set out in Part B of the Annexure to this Agreement.

Original Mortgages means (a) the Mortgage initially recorded in the offices specified on Schedule 3.16(b) on June 29, 2006 and (b) the Mortgage initially recorded in the offices specified on Schedule 3.16(b) on December 3, 2010, in each case, as the same have and may be further amended and supplemented from time to time prior to the Restatement Date.

Original Mortgages shall have the meaning set forth in SECTION 4.1 (B).

Original Mortgages the Mortgages executed and delivered pursuant to the Existing Credit Agreement or any credit agreement amended and restated by the Existing Credit Agreement, after giving effect to the provisions of subsection 2.12 of the Master Collateral Agreement.

Original Mortgages means the Individual Mortgages and the Corporate Mortgages to be sold by the Warehousers to the Seller and by the Seller to the Issuer on the Closing Date pursuant to this Agreement, brief details of which are set out in Part B of the Annexure to this Agreement.

Original Mortgages means the first priority mortgages over the Collateral Vessels entered into by the Borrower in favour of the Security Agent on or around the date hereof;

Original Mortgages means the first priority Hong Kong mortgage over each of the Vessels, each in favour of the Security Agent, in the form approved in writing by the Agent, and “Original Mortgage” means any one of them.