Assumption and Release definition

Assumption and Release means the agreement to be entered into by ADI, the Subsidiary Borrower and the Administrative Agent pursuant to which the Subsidiary Borrower assumes all of the Obligations and becomes the “Borrower”, in each case for all purposes of this Agreement and the other Loan Documents, and ADI is released as primary obligor in respect of the Obligations and ceases to be the “Borrower”, in each case for all purposes of this Agreement and the other Loan Documents, substantially in the form of Exhibit 1.01 hereto.
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Assumption and Release means the assumption by Visa Inc. of the obligations and liabilities of Visa International as the Borrower under this Agreement and the other Loan Documents and the release of Visa International from such obligations and liabilities, in each case pursuant to the Assumption and Release Agreement.
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Examples of Assumption and Release in a sentence

  • Notwithstanding the foregoing to the contrary, Seller shall have the option, by delivering written notice to Purchaser, to extend the Closing Date to the last Business Day of the month in which the Closing Date otherwise would occur pursuant to the preceding sentence, in connection with the Loan Assumption and Release.

  • Except as otherwise provided in (i) Section 4.6.9 above with respect to the Loan Assumption and Release for the Assumed Properties, (ii) Section 4.7 above with respect to the Purchaser Loans for the Lazy Hollow Property and the Hillmeade Property and (iii) Section 4.8 with respect to the AIMCO Loans for the AIMCO Loan Properties, Purchaser assumes full responsibility to obtain the funds required for settlement, and Purchaser’s acquisition of such funds shall not be a contingency to the Closing.

  • Each Seller agrees that it will cooperate with Purchaser and the applicable Lender, at no cost or expense to such Seller, in connection with Purchaser’s application to Lender for approval of each applicable Loan Assumption and Release.

  • With respect to the Hillmeade Property, the Arbours of Hermitage Property, the Parktown Townhouse Property, the Westway Village Property and the ▇▇▇▇▇ of Inverness Property, Purchaser shall pay all recordation and transfer taxes, mortgage taxes, documentary stamp taxes and similar charges, if any, applicable to the transfer of such Properties to Purchaser (including any and all taxes relating to the recording of the assumption agreement in connection with the Loan Assumption and Release).

  • Purchaser shall be responsible for funding any new or additional reserves, impounds or accounts required by a Lender to be maintained by Purchaser in connection with each Loan after the Loan Assumption and Release (the “Required Loan Fund Amounts”).

  • Assumption and Release Agreement and Ratification of Loan Obligations (1031 Exchanges) (6634) (required upon completion of the exchange).

  • Purchaser shall coordinate with such Lender to comply with the appropriate provisions of both the applicable Assumed Loan Documents and such Lender’s assumption guidelines in order to allow for the Loan Assumption and Release.

  • Purchaser acknowledges that a Lender’s assumption guidelines may not be consistent with the provisions of the applicable Assumed Loan Documents concerning the Loan Assumption and Release.

  • Further, if the Existing Debt Assumption and Release occurs at Closing pursuant to Section 4.4, Seller shall be credited for and Purchaser shall be charged for all amounts held in reserves, impounds and other accounts maintained in connection with the Existing Debt as of the Cut Off Time, to the extent assigned to Purchaser.

  • Seller agrees to reasonably cooperate with Purchaser (provided that Seller shall have no obligation to incur any liability or expense other than the fees of its own attorneys) to seek and obtain the Existing Debt Assumption and Release.