Assumed Loan definition

Assumed Loan means the loan, if any, identified in Item 10 of Schedule 1; if no loan is so identified, the term “Assumed Loan” shall be disregarded for purposes of this Contract.

Assumed Loan of each Assignee shall be determined as follows:

Assumed Loan a Loan to be assumed by the applicable SNH Purchaser at the Closing for the Property as identified on Schedule 2.

Examples of Assumed Loan in a sentence

• At Closing, Purchaser shall pay to Seller the Purchase Price less the outstanding balance of the Assumed Loan and plus or minus the adjustments and prorations required by this Agreement (the “Net Purchase Price”).

• Purchaser shall be solely responsible for all costs associated with assuming the Assumed Loan, including, without limitation, paying all assumption and review fees, costs and expenses, if any.

• To the extent permitted by the applicable Assumption Lender, any existing reserves, impounds or other accounts maintained in connection with any Assumed Loan shall remain in place, and Purchaser shall provide the applicable Seller with a credit in the amount thereof at the Closing.

• At the Closing, subject to Purchaser’s obligations under ARTICLE 5, Purchaser shall receive a credit against the Base Purchase Price of each of the Assumption Properties in the amount of the outstanding principal balance and all accrued and unpaid interest (if any) thereon, of the applicable Assumed Loan as of the Closing Date.

• Buyer agrees to pay, and the Interest Owners agree to accept, as consideration for the conveyance of all of the Interests, subject to the adjustments provided for in this Contract, the amount set forth in Item 12 of Schedule 1 (the “Purchase Price”), less the outstanding principal balance of the Assumed Loan, if any, as of the Closing Date.

More Definitions of Assumed Loan

Assumed Loan means each Existing Loan denoted as an “Assumed Loan” in Section 1.1(a) of the Disclosure Schedule, as may be amended pursuant to Section 6.16.

Assumed Loan means (i) each Adviser Loan with a Transferred Adviser Representative, Transferred Broker or 403(b) Transferred Adviser Representative listed on Section 1.1(b)(3) of the Disclosure Schedule, and (ii) each Adviser Loan with a Transferred Adviser Representative, Transferred Broker or 403(b) Transferred Adviser Representative that is awarded by the Seller or any of its Affiliates from and after the date of this Agreement and on or prior to the Closing Date (each, a “Post-Signing Assumed Loan”).

Assumed Loan or “Assumed Loans” means, individually and collectively, each of the loans issued to any of the Fee Owners pursuant to the Assumed Loan Documents and set forth on Exhibit E.

Assumed Loan means the secured loan owed by Encore Vintners to the Bank of Montreal which was assumed by the Corporation as part of the Purchase Price in the aggregate amount of $3.1 million.

Assumed Loan means any loan identified on Exhibit G hereto.

Assumed Loan means any loan identified on Exhibit G hereto. “Assumption Application” has the meaning set forth in Section 2.5.

Assumed Loan means each loan specifically identified on Schedule 4.25 to the 2003 Purchase Agreement.