Mortgage Amendments

Example Definitions of "Mortgage Amendments"
Mortgage Amendments. (i) an amendment to each Mortgage (each, a "Mortgage Amendment," collectively the "Mortgage Amendments") duly executed and acknowledged by the applicable Loan Party, and in form for recording in the applicable recording office in each case in form and substance reasonably satisfactory to the Administrative Agent; (ii) executed legal opinions from counsel to the Borrower as to the enforceability of each Mortgage Amendment, and otherwise in form and substance reasonably satisfactory to the... Administrative Agent; (iii) with respect to each amended Mortgage a date-down endorsement to each existing title insurance policy insuring the Lien of each Mortgage (each a "Title Endorsement," collectively, the "Title Endorsements") (x) insuring that such Mortgage, as amended by such Mortgage Amendment, is a valid and enforceable lien on such Mortgaged Property in favor of the Administrative Agent for the benefit of the Secured Parties free and clear of all Liens except Permitted Liens and (y) otherwise in form and substance reasonably satisfactory to the Administrative Agent; (iv) evidence reasonably acceptable to the Administrative Agent of payment by Borrower of all premiums, search and examination charges, escrow charges and related charges, mortgage recording taxes, fees, charges, costs and expenses required for the recording of the Mortgage Amendments and issuance of the Title Endorsements; and (v) such affidavits, certificates, information (including financial data) and instruments of indemnification (including a so-called "gap" indemnification) as shall be required to induce the title insurer to issue the Title Endorsements. View More Arrow
All Definitions