Self Liquidating Mortgage Clause Samples

Self Liquidating Mortgage. The Leasehold Mortgage shall be a ------------------------- self liquidating mortgage, to be paid over a period not longer than elapses up to three (3) years prior to the end of the term of this Lease, or any option term if such option has been exercised.
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Self Liquidating Mortgage. The Leasehold Mortgage shall be a self liquidating mortgage, to be paid over a period not longer than elapses up to three (3) years prior to the end of the term of this Lease, or any option term if such option has been exercised. Landlord acknowledges that Developer and ▇▇▇▇▇▇ Guaranty Trust Company of New York, a New York Banking Corporation, are negotiating the terms of a certain mortgage loan, the proceeds of which will be used for general corporate purposes (the “Loan”); that the Loan is a term loan maturing two (2) years following the date of the closing thereof and that the mortgage securing the Loan (the “Mortgage”) is therefore not a self-liquidating mortgage. Nevertheless, and notwithstanding the first sentence of this Section 4.22, Landlord agrees that the Mortgage shall qualify as a recognized “Leasehold Mortgage” (as defined in the Lease) and Landlord and Developer and Leasehold Mortgagee are and shall have all of the respective rights and obligations of Landlord, Developer and Leasehold Mortgagee as set forth in Section 4 of the Lease. 2. Paragraph 6.2.8 is hereby added to the Subdivided Lease to read in its entirety as follows:
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Related to Self Liquidating Mortgage

  • Transfer Upon Realization of Pledged, Mortgaged or Charged Escrow Securities (1) You may transfer within escrow to a financial institution the escrow securities you have pledged, mortgaged or charged under section 4.2 to that financial institution as collateral for a loan on realization of the loan. (2) Prior to the transfer the Escrow Agent must receive: (a) a statutory declaration of an officer of the financial institution that the financial institution is legally entitled to the escrow securities; (b) a transfer power of attorney, executed by the transferor in accordance with the requirements of the Issuer’s transfer agent; and (c) an acknowledgement in the form of Schedule “B” signed by the financial institution. (3) Within 10 days after the transfer, the transferee of the escrow securities will file a copy of the acknowledgment with the securities regulators in the jurisdictions in which the Issuer is a reporting issuer.

  • Assuming Institution’s Liquidation of Remaining Shared-Loss Loans In the event that the Assuming Institution does not conduct a Portfolio Sale pursuant to Section 4.1, the Receiver shall have the right, exercisable in its sole and absolute discretion, to require the Assuming Institution to liquidate for cash consideration, any Shared-Loss Loans held by the Assuming Institution at any time after the date that is six months prior to the Termination Date. If the Receiver exercises its option under this Section 4.2, it must give notice in writing to the Assuming Institution, setting forth the time period within which the Assuming Institution shall be required to liquidate the Shared-Loss Loans. The Assuming Institution will comply with the Receiver’s notice and must liquidate the Shared-Loss Loans as soon as reasonably practicable by means of sealed bid sales to third parties, not including any of the Assuming Institution’s affiliates, contractors, or any affiliates of the Assuming Institution’s contractors. The selection of any financial advisor or other third party broker or sales agent retained for the liquidation of the remaining Shared-Loss Loans pursuant to this Section shall be subject to the prior approval of the Receiver, such approval not to be unreasonably withheld, delayed or conditioned.

  • Assuming Institution Portfolio Sales of Remaining Shared-Loss Loans The Assuming Institution shall have the right, with the consent of the Receiver, to liquidate for cash consideration, from time to time in one or more transactions, all or a portion of Shared-Loss Loans held by the Assuming Institution at any time prior to the Termination Date (“Portfolio Sales”). If the Assuming Institution exercises its option under this Section 4.1, it must give sixty

  • Mortgage Loan Liquidated by _________________ (The Company hereby certifies that all proceeds of foreclosure, insurance, condemnation or other liquidation have been finally received and credited to the Collection Account pursuant to the Pooling and Servicing Agreement.)

  • Pledge, Mortgage or Charge as Collateral for a Loan