Examples of Borrower Assignment in a sentence
No interest shall accrue with respect to the Assigned Interest from and after the Borrower Assignment Effective Date and such Assigned Interest shall, from and after the Borrower Assignment Effective Date, and without further action by any Person, be deemed cancelled for all purposes and no longer outstanding.
Concurrently with the release of funds from the Escrow Account on the Escrow Release Date, the Initial Borrower and the Borrower shall execute and deliver the Borrower Assignment and Assumption Agreement pursuant to which, among other things, the Initial Borrower shall assign and transfer to DBI all of its rights and obligations as the Borrower under the Loan Documents (such assignment, the “Assumption”).
Payment to the Assignor by the Assignee in respect of the settlement of the assignment of the Assigned Interest shall be paid by Assignee directly to the Assignor and shall include all unpaid interest that has accrued in respect of the Assigned Interest through the Borrower Assignment Effective Date.
Upon written request of the submitting Lender, the Auction Manager will promptly return the Borrower Assignment and Acceptance received in connection with a Return Bid that is not a Qualifying Bid.
Harlem River Park Towers Residential Project - UDC Loan No. 18 – Authorization to (i) Accept a Partial Prepayment of Cash, (ii) Accept Cash Flow Payments, (iii) Consent to Borrower Assignment and Subordination of the Remaining Balance of Outstanding Indebtedness and (iv) Take All Related Actions VI.