Underlying Mortgage definition

Underlying Mortgage means a mortgage, consolidated mortgage, deed of trust, deed to secure debt, security deed or other security device which is customary and serves the same function as a mortgage under the law and practice in the jurisdiction in which the premises subject to the mortgage are located.

Underlying Mortgage has the meaning specified in the definition of “Assignment of Mortgage.”

Examples of Underlying Mortgage in a sentence

None of this Certificate, the Mortgage Loans, the Mortgage Certificates or the Underlying Mortgage Loans are guaranteed or insured by any governmental agency or instrumentality or any other entity.
This clause shall be self-operative and no further instrument of subordination need be required by any mortgagee, ground lessor or beneficiary, affecting any Underlying Mortgage in order to make such subordination effective.
Tenant shall give written notice to the holder of any Underlying Mortgage whose name and address have been previously furnished to Tenant of any act or omission by Landlord which Tenant asserts as giving Tenant the right to terminate this Lease or to claim a partial or total eviction or any other right or remedy under this Lease or provided by law.
In no event, however, shall the term “Mortgaged Property” include any mortgaged property or real estate owned property relating to an Underlying Mortgage Loan.
In the event the Premises are damaged by fire or other casualty, Landlord shall repair such damage with reasonable diligence and in a manner consistent with the provisions of any Underlying Mortgage, as hereinafter defined.

Underlying Mortgage means a PrimeFirst® Loan, a Three Year ARM, or a Five Year ARM written through MLCC.

Underlying Mortgage shall have the meaning given to such term in the Note Purchase Agreement.

Underlying Mortgage shall have the meaning set forth in the Recitals to this Agreement.

Underlying Mortgage means a mortgage that:

Underlying Mortgage. That certain Mortgage, Assignment of Leases and Rents, Security Agreement, Fixture Filing and Notice of Future Advance dated of even date with the Underlying Loan Note executed by Fee Owner for the benefit of TPG Agent, as administrative agent for Borrower and the other lenders, and submitted for recording on or about the date hereof with the recorder’s office in Broward County, Florida, encumbering the Land and the Improvements as security for the Underlying Loan, as the same may from time to time be amended, restated, supplemented or otherwise modified. Underlying Mortgage Guarantors: PRH Investments, LLC, a Florida limited liability company, Xxxxx X. Xxxxx, an individual (with respect to the Payment Guaranty and the Xxxxx Recourse Guaranty only), and any other party guaranteeing the repayment of all or any part of the Underlying Mortgage Loan, the satisfaction of, or continued compliance with, all or any part of the obligations under the Collaterally Assigned Underlying Loan Documents, or both.