How is First Mortgagee defined in a legal contract?
- First Mortgagee means the holder of any first mortgage.
Seen in 16 SEC filings - First Mortgagee means any person named as a mortgagee or beneficiary in any first mortgage, or any successor to the interest of any such person under such first mortgage.
Seen in 7 SEC filings - First Mortgagee means the agent that the lenders will appoint. The term ββFirst Security meansββ the first preferred mortgage over the Vessel in favour of the First Mortgagee and the first priority assignment of the earnings, insurance and requisition compensation relating to the Vessel in favour of the First Mortgagee.
Seen in 7 SEC filings - First Mortgagee means the Mortgagee under a First Mortgage.
Seen in 5 SEC filings
Note: pulled this data out of the SEC EDGAR Database of 500,000 records from the past 22 years of filings. We regularly update this page as new filings and definitions come in.
yourself to verify these results. We are always keen to point people to source documents.
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Which definition should you use?
π€ has combined and improved the above descriptions to create market-standard 'Genie definitions' below, with guidance on which documents and which industry to use for each.
Genie Definition 1
- First Mortgagee means the named holder of any first mortgage.
Relevant Contract Types
Relevant Circumstances
- Creation of security interest for a loan
- Purchasing or refinancing of real property
- Foreclosure or recovery proceedings
Relevant Sectors
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Genie Definition 2
- First Mortgagee means an agent appointed by lenders holding a prominent first mortgage.
Relevant Contract Types
Relevant Circumstances
- Debt syndicate situations
- Securitization of assets
- Consortium lending situations
Relevant Sectors
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