Loan Assumption definition

Loan Assumption shall have the meaning set forth in Section 5.2.

Loan Assumption shall have the meaning given to such term in Section 2.3(a) hereof.

Loan Assumption has the meaning given to it in Section 12.2 hereof.

Examples of Loan Assumption in a sentence

• The assumption of the unpaid principal balance of one or more promissory notes described in the attached TREC Loan Assumption Addendum.

• The Loans comprising any Borrowing shall be in an aggregate principal amount that is (a) an integral multiple of $1,000,000 and not less than $5,000,000 (except, with respect to any Borrowing made pursuant to an Incremental Loan Commitment, to the extent otherwise provided in the related Incremental Loan Assumption Agreement) or (b) equal to the remaining available balance of the applicable Commitments.

• The Transferor Partnership shall request that Lender state in writing any terms and requirements, including the amount of any Loan Assumption Fees, to be imposed by Lender in connection with its consent to the transactions contemplated hereby.

• The Term Loan Commitments (other than any Incremental Term Loan Commitments, which shall terminate as provided in the related Incremental Term Loan Assumption Agreement) shall automatically terminate upon the making of the Term Loans on the Closing Date.

• Seller lists the Property at a price of $ on the following terms:  Cash  FHA  VA  USDA  Conventional  Loan Assumption  Seller Financing  Other .

More Definitions of Loan Assumption

Loan Assumption. The Buyer’s assumption and/or modification of the Loan and the Loan Documents in accordance with the terms of the Loan Documents.

Loan Assumption as defined in Section 5.10.1.1.

Loan Assumption shall have the meaning assigned thereto in Section 2.3(d)(vi).

Loan Assumption will mean the assumption of any Loan by the transferee in connection with a Transfer of the applicable Mortgaged Property or by a Transfer of any interest in the applicable Borrower to such transferee, in each case pursuant to Section 7.05(a) of the applicable Loan Agreement. Notwithstanding anything to the contrary in the Loan Agreements, except as set forth in Section 15(c) of this Agreement, no Loan Assumptions will be permitted with respect to one or more of the Loans.

Loan Assumption means, collectively, the assignment of the Loan by Seller, the assumption of the Loan by Purchaser on the terms and conditions set forth in the Loan Documents but with the changes set forth on Schedule 14(c) below, and the full and unconditional release of Seller and all existing guarantor(s) or indemnitor(s) under the Loan with respect to acts or omissions occurring from and after Closing. Notwithstanding anything contained in this Agreement to the contrary, Seller and First Service Solutions shall coordinate all matters with respect to the Loan Assumption. Purchaser shall submit to Lender (or to First Service Solutions, if so directed by Seller) and Seller all information, filings and other documents required by Lender reasonably and/or customarily necessary for application for the Loan Assumption within seven (7) Business Days following the Due Diligence Expiration Date. Thereafter, Seller and Purchaser shall work diligently to comply with all requirements of Lender and to promptly (and in all cases within the time frames contemplated by this Agreement or otherwise reasonably requested by Lender, it being understood that time is of the essence to obtain Lender’s Consent) provide all information, filings and other documents reasonably requested by Lender in connection with the Loan Assumption. From and after the Agreement Date, for so long as this Agreement is in effect, except in connection with the Loan Assumption, Seller shall not modify nor supplement any of the terms or conditions of the Loan Documents without, in each instance, Purchaser’s prior written approval, which may be withheld in Purchaser’s sole and absolute discretion. Purchaser shall execute and/or deliver to Lender such instruments and documents as may be reasonably required to effectuate the Loan Assumption, but only to the extent that borrower’s and guarantor’s liability under the Loan Documents is not increased by such instruments or documents. Purchaser acknowledges that it is reasonable for Lender to require that Purchaser comply with the special purpose entity and organizational documents requirements set forth in the Loan Documents or as required of Seller, to require a non-consolidation opinion, and to approve the types of accounts established for the Deposit Account Agreement and the Clearing Account Agreement. Purchaser also acknowledges that subject to the Leander’s approval Seller shall have the right to negotiate with Lender to substitute the current indemnitors and guarant...

Loan Assumption means the assumption by Acquiror of Contributor’s obligations under the Loan, as evidenced by the Assumption Documents.

Loan Assumption. The Buyer’s ability to assume existing loan payable to in the approximate amount of $ , currently payable at approximately $ per month, including principal, interest, existing taxes, and existing insurance. Payments on existing loan to be current at Buyer’s closing. Other: