Mortgaged Property definition
Examples of Mortgaged Property in a sentence
The Security Instruments contain an assignment by the Borrower and the Guarantors to and in favor of the Administrative Agent for the benefit of the Secured Parties of all of the Borrower’s and each Guarantor’s interest in and to production and all proceeds attributable thereto which may be produced from or allocated to the Mortgaged Property.
A carbon, photographic or other reproduction of the Security Instruments or any financing statement covering the Collateral (including the Mortgaged Property) or any part thereof shall be sufficient as a financing statement where permitted by law.
With respect to any Mortgaged Property that is at any time a Special Flood Hazard Property located in a community which participates in the National Flood Insurance Program, the Borrowers shall, or shall cause each applicable Loan Party to, comply with the Flood Insurance Requirements.
If a Flood Redesignation shall occur with respect to any Mortgaged Property, the Administrative Agent shall obtain a completed Flood Hazard Determination with respect to the applicable Mortgaged Property, and each Borrower shall comply with the Flood Insurance Requirements with respect to such Mortgaged Property by not later than forty five (45) days after the date of the Flood Redesignation or any earlier date required by the Flood Laws.
With respect to each Mortgaged Property, if any improved real property is located in an area identified by FEMA as a Special Flood Hazard Area with respect to which flood insurance has been made available under the Flood Insurance Regulations, the applicable Loan Party has obtained, and will maintain, with financially sound and reputable insurance companies, such flood insurance as is reasonably required by the Collateral Agent and at least as is required under applicable Flood Insurance Regulations.