Subordinated Mortgage definition

Subordinated Mortgage means the Subordinated Spare Parts Mortgage and Security Agreement in substantially the form of Exhibit A-2 to this Agreement entered into by the Borrower and the Security Trustee to secure the obligations of the Borrower under the Payment and Indemnity Agreement.

Subordinated Mortgage has the meaning given to that term in the Loan Agreement. APPENDIX A

Subordinated Mortgage means that the County is serving as a second lender in the pur- chase of your home. The County agrees that your primary lender will have their investment paid back first in the event that the home is sold or ownership is otherwise transferred. Quali- fied first-time homebuyers will be eligible to receive a subordinated mortgage up to a maxi- mum of $5,000 per home. The actual loan amount is limited to the figure necessary to fill the gap between the primary lender’s commitment and the amount the borrower is able to pay.

Examples of Subordinated Mortgage in a sentence

• The remedies provided hereunder and under the Subordinated Mortgage shall be cumulative and concurrent, and may be pursued singly, successively, or together against either or any of Maker, the Premises, or the Project, at the sole discretion of Holder.

• For the purposes of this Section 13.03, if there shall be more than one Senior Interest Holder, the provisions of this Section 13.03 shall be applicable only to the holder of the Superior Mortgage or the Subordinated Mortgage which constitutes the first mortgage lien on the Building.

• The Subordinated Mortgage and the Free Cash Pledge which secure it, shall at all times be subject and subordinate in priority, operation, and effect to the indebtedness owed from time to time to Paramount Lenders related to financing provided for the purposes set forth in Section 4 hereof that is secured by any Paramount Mortgage or other Paramount Lien.

• The foregoing right of first offer shall not apply to assignments of the Holder's interest in this Note to another corporation, partnership, limited liability company, or other entity or individual which is majority owned by one or more of the partners or members of the original Holder, but as a condition to such assignment such new company shall agree in writing to be bound by all terms, conditions, and affirmative obligations of this Note and of the Subordinated Mortgage.

• All Additional Loans shall be non-recourse to the Partners of the Partnership and shall be subordinate to the First Mortgage Loan and Subordinated Mortgage Loan but senior to Deficiency Loans and all other distributions to the Partners hereunder and shall be paid only in accordance with Section 6.04 hereof.

More Definitions of Subordinated Mortgage

Subordinated Mortgage means the Subordinated Deed of Trust and Security Agreement, dated as of July 1, 1996, made by Old Dominion, as Grantor, and having Rxxxxxx X. Xxxxxxx and Mxxxxxx X. Xxxxx, as Subordinated Trustees, for the beneficiaries identified therein, in substantially the form of Exhibit S to the Participation Agreement.

Subordinated Mortgage means the second preferred fleet mortgage in favor of Subordinated Lender over each of the Pre-existing Vessels and as shall be amended or supplemented to cover any GPA 654 Vessels;

Subordinated Mortgage means, with respect to each Site, a subordinated mortgage, substantially in the form of Exhibit CC to the Participation Agreement (modified as required by the Applicable Laws and Regulations of the State in which such Site is located), together with all attachments and schedules thereto, as such Subordinated Mortgage may be supplemented, amended or modified from time to time.

Subordinated Mortgage means that Amended and Restated Subordinated Mortgage from the Mortgagor of even date herewith granting a second lien on the Project for the benefit of the Holder and securing the obligations arising under this Agreement.

Subordinated Mortgage means the Subordinated Deed to Secure Debt and Security Agreement (P1), dated as of December 30, 1996 from Oglethorpe, as grantor, to AMBAC and SunTrust Bank, Atlanta, as amended as of the date hereof.

Subordinated Mortgage. The Open-End Mortgage, Security Agreement, Assignment of Rents, Income and Proceeds pursuant to which the Borrower grants to the holders of the New Subordinated Indebtedness a silent subordinated lien on the Canton Cast Roll Facility in the form delivered to the Co-Agents on the Third Amendment Effective Date and as thereafter amended or modified in a manner satisfactory to the Co-Agents."

Subordinated Mortgage means the Mortgage granted by the Borrower to the Indenture Trustee dated September 18, 2013, as defined in the Subordinated Indenture.