REO Mortgage definition

REO Mortgage means, with respect to each REO Property, a mortgage, deed of trust, trust deed or deed to secure debt securing the Secured Obligations in form suitable for recording in the appropriate public records and otherwise in form and substance satisfactory to the Collateral Agent (which REO Mortgage may, if the Underlying Mortgage on the applicable REO Property has not been discharged and if the Collateral Agent agrees, consist of such Underlying Mortgage, as assigned to the Collateral Agent and including such modifications thereto as the Collateral Agent may require).

REO Mortgage means a First Mortgage in form and substance approved by Lender covering an REO Property which has been executed and delivered by Borrower for the benefit of Lender.

REO Mortgage means a mortgage, deed of trust or deed to secure debt (as the case may be), in form and substance satisfactory to Administrative Agent, made by Borrower (or, if permitted by Administrative Agent, an Affiliate of Borrower) in favor of Administrative Agent and encumbering the REO Project.

Examples of REO Mortgage in a sentence

• Such REO Mortgage shall be duly recorded or filed in such manner and in such places as are required by applicable law to establish, perfect, preserve and protect the Liens in favor of the Collateral Agent granted pursuant to such REO Mortgage, and all taxes, fees and other charges payable in connection therewith shall be paid in full.

• The cost of preparing, negotiating and recording such REO Mortgage (including mortgage recording taxes) and the costs associated with such additional documentation and deliverables shall be Servicing Expenses.

• At Debtor’s request, the Collateral Agent shall prepare and deliver to Debtor a form of REO Mortgage that (with such modifications as the Collateral Agent shall agree to in its sole discretion) shall serve as a model for subsequent REO Mortgages (subject to changes necessary or advisable, in the Collateral Agent’s judgment, to reflect local law and the particular nature and characteristics of the REO Property in question).

• All property managers with respect to any Acquired REO Property shall, in their respective property management agreements or by separate agreement, subordinate their rights under such agreements (including their right to receive management fees) to the rights and interest of the Collateral Agent under the applicable REO Mortgage.

• All property managers with respect to any REO Property shall, in their respective property management agreements or by separate agreement, subordinate their rights under such agreements (including their right to receive management fees) to the rights and interest of the Collateral Agent under the applicable REO Mortgage (as defined in the Reimbursement, Security and Guaranty Agreement).

• All property managers with respect to any REO Property shall, in their respective property management agreements or by separate agreement, subordinate their rights under such agreements (including their right to receive management fees) to the rights and interest of the Collateral Agent under the applicable REO Mortgage (as defined in the Reimbursement and Security Agreement).

• Such REO Mortgage shall be accompanied by such related documentation and deliveries as the Collateral Agent reasonably may request, each in form and substance satisfactory to the Collateral Agent, including, without limitation, the REO Collateral Documents.

• At the Debtor’s request, the Collateral Agent shall prepare and deliver to the Debtor a form of REO Mortgage that (with such Modifications as the Collateral Agent shall agree to in its sole discretion) shall serve as a model for subsequent REO Mortgages (subject to changes necessary or advisable, in the Collateral Agent’s judgment, to reflect local law and the particular nature and characteristics of the Acquired REO Property in question).

• At Debtor’s request, the Collateral Agent shall prepare and deliver to the Debtor a form of REO Mortgage that (with such modifications as the Collateral Agent shall agree to in its sole discretion) shall serve as a model for subsequent REO Mortgages (subject to changes necessary or advisable, in the Collateral Agent’s judgment, to reflect local law and the particular nature and characteristics of the REO Property in question).

• Certificate Account have been so deposited, or that such Mortgage Loan has become an REO Mortgage Loan, the Request for Release shall be released by the Trustee to the Master Servicer or such Servicer, as appropriate.

More Definitions of REO Mortgage

REO Mortgage means the deed of mortgage, substantially in the form of Exhibit N-3 hereto, as amended, modified or supplemented from time to time.

REO Mortgage. Has the meaning set forth on Exhibit A-1.

REO Mortgage means, with respect to any REO Property, a first priority Mortgage, Assignment of Leases and Rents, Security Agreement and Fixture Filing or Deed of Trust, Assignment of Leases and Rents, Security Agreement and Fixture Filing, substantially in the form attached hereto as Exhibit B, dated as of the Closing Date, granted by Borrower to or for the benefit of Agent (or, in the case of a Deed of Trust, to Deed of Trust Trustee for the benefit of Agent) with respect to such REO Property as security for the Loan, as same may thereafter from time to time be supplemented, amended, modified or extended by one or more agreements supplemental thereto.

REO Mortgage means a mortgage or deed of trust on a REO Property in recordable form and in form and substance acceptable to Purchaser in its sole discretion, in each case executed by the applicable Permitted Subsidiary in favor of Purchaser.”

REO Mortgage means, with respect to any REO Property, a first priority Mortgage, Assignment of Leases and Rents, Security Agreement and Fixture Filing or Deed of Trust, Assignment of Leases and Rents, Security Agreement and Fixture Filing, substantially in the form attached hereto as EXHIBIT C (or a substantially similar agreement as modified to meet legal requirements of any jurisdiction in which an REO Property is located), dated as of the applicable Advance Closing Date, granted by the Borrower to the Agent on behalf of the Lenders (or, in the case of a Deed of Trust, to Deed of Trust Trustee for the benefit of Agent) with respect to such REO Property as security for the Loan, as same may hereafter from time to time be supplemented, amended, modified or extended.