Mortgage Satisfaction Event

Example Definitions of "Mortgage Satisfaction Event"
Mortgage Satisfaction Event. The satisfaction in full of the Obligations as evidenced by a written notice from Lender to Clearing Bank. For the avoidance of doubt, a Mortgage Satisfaction Event shall not occur unless and until the Loan has been paid in full (and notwithstanding the taking of title to the Property by Lender by foreclosure, deed-in-lieu of foreclosure or otherwise)
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