Common use of Assumption amount Clause in Contracts

Assumption amount. The transferee must assume the total outstanding FLP debt or if the value of the prop- erty is less than the entire amount of debt, an amount equal to the market value of the security less any prior liens. The total outstanding FLP debt will include any unpaid deferred inter- est that accrued on the loan to the ex- tent that the debt does not exceed the security’s market value.