Assumption definition

Assumption. The process whereby, on sale or transfer of a legal or beneficial interest in a Mortgaged Property, the new owner of such Mortgaged Property becomes legally obligated under the terms of the related existing Security Instrument, Mortgage Note and any addenda and riders to such Security Instrument or Mortgage Note. Subsequent to the Assumption, the new owner of the property shall be deemed to be the Borrower under the related Mortgage Loan Documents.

Assumption shall have their correlative meanings.

Assumption has the meaning set forth in Section 2.2.

Examples of Assumption in a sentence

• This Assignment and Assumption may be executed in any number of counterparts, which together shall constitute one instrument.

• Online/offline trainingIn previous RAN1 meeting(s), the agreement(s)/conclusion(s) were made as below: RAN1#110 Working Assumption Terminology Description Online training An AI/ML training process where the model being used for inference) is (typically continuously) trained in (near) real-time with the arrival of new training samples.

• Working Assumption Include the following into a working list of terminologies to be used for RAN1 AI/ML air interface SI discussion.

• This Assignment and Assumption shall be binding upon, and inure to the benefit of, the parties hereto and their respective successors and assigns.

• This Assignment and Assumption shall be governed by, and construed in accordance with, the law of the State of New York.

More Definitions of Assumption

Assumption has the meaning specified in Section 10.25.

Assumption has the meaning set forth in Section 11.3.

Assumption is deemed to also include a sale (of the Mortgaged Property) subject to the Mortgage that is not accompanied by an assumption or substitution of liability agreement.

Assumption shall have the respective meanings set forth in Section 2.2(a)(iii).

Assumption has the meaning specified in the recitals of this Indenture.

Assumption means a Permitted Direct Assumption or a Permitted Indirect Assumption.

Assumption shall have the meaning provided in the recitals to this Agreement.