Replacement Mortgage definition

Replacement Mortgage or “replacement charge” means a charge endorsed upon a replacement title in the Interim Register in replacement of a pre-existing mortgage or charge, as the case may be;

Replacement Mortgage has the meaning ascribed to it in Clause 2.1(l).

Replacement Mortgage means the mortgage that will secure the Reorganized Debtor’s obligations under the Replacement Secured Note to be executed and delivered by the Reorganized Debtor to the Lender on the Effective Date, in the form set forth in Exhibit C hereto.

Examples of Replacement Mortgage in a sentence

• Subject to Condition 1(e)(ii), the Issuer will procure that Replacement Mortgage Bonds are made available at the specified office of the Paying Agent for the time being in Luxembourg.

• If any payment in respect of Mortgage Bonds falls due on or after the occurrence of an Exchange Event but prior to the date of delivery of Replacement Mortgage Bonds, then that payment shall only be required to be made by, or on behalf of, the Issuer at the time of presentation (and surrender, as the case may be) of the Replacement Mortgage Bond to the Agent or a Paying Agent by the holder of the Replacement Mortgage Bond.

• For the avoidance of doubt, to the extent that payments have been made in respect of Mortgage Bonds on or prior to the time that those Mortgage Bonds become Cancelled Mortgage Bonds, this shall relieve the Issuer of being required to make those payments in respect of the Replacement Mortgage Bonds.

• The aggregate nominal amount of Replacement Mortgage Bonds issued following the occurrence of an Exchange Event shall be equal to the aggregate nominal amount of Mortgage Bonds which, according to the records of KELER, were credited to the securities accounts of Securities Account Managers at the time of the occurrence of the Exchange Event.

• Upon the receipt of Replacement Mortgage Bonds by a Securities Account Manager, such Securities Account Manager and the Holder whose securities account is managed by such Securities Account Manager agree that the Mortgage Bonds which were credited to the securities account of such Securities Account Manager with KELER at the time of the occurrence of the Exchange Event shall be cancelled and shall cease to be of any further effect.

• Upon the receipt of the Replacement Mortgage Bonds, the Securities Account Manager agrees to hold them for the benefit and on behalf of Holders for whom the Securities Account Manager manages a securities account and in accordance with the balance of such securities account of such Holder.

• The Issuer will procure that the replacement of the Cancelled Mortgage Bonds with Replacement Mortgage Bonds shall occur no later than 45 days after the date of the giving of the notice referred to in the immediately preceding sentence.

• You must meet our mortgage approval criteria, policies, procedures and documentation requirements in effect at the time you make your application for the Replacement Mortgage.

• If the principal amount of the Replacement Mortgage is GREATER THAN the Principal Amount owing on the original Mortgage, the contract interest rate will be set at the time of application.

• If the principal amount of the Replacement Mortgage is EQUAL TO the Principal Amount owing on the original Mortgage, the Early Payout and Reinvestment Fees will not be charged, and your Interest Rate remains the same.

More Definitions of Replacement Mortgage

Replacement Mortgage means a first-lien mortgage on the Hollywood Property, which first-line mortgage shall secure repayment of the Replacement Note and shall also cross- collateralize the IBC A Note.

Replacement Mortgage means a first-lien mortgage on the Hollywood

Replacement Mortgage shall have the meaning set forth in Section 2.6(1).

Replacement Mortgage means, in relation to:

Replacement Mortgage means a Dutch Mortgage duly executed by the Surviving Party in a Proposed Merger and covering the Real Estate subject to the Dutch Mortgage of such other Merger Party in such Proposed Merger, if any.