Assumed Loan Sample Clauses

Assumed Loan. 4.2.1 Purchaser shall assume, at Purchaser’s sole risk, cost, and expense, the indebtedness outstanding as of the Closing Date under the Assumed Loan, under an assumption agreement and related documents (collectively, the “Assumption Agreement”) with terms and conditions reasonably acceptable to Purchaser, DBP II Seller, and DBP II Lender; provided, however, that the terms of the Assumption Agreement shall be deemed to be acceptable to Purchaser if the Assumption Agreement provides for Purchaser (and, with respect to any assumptions or replacements of Assumed Loan Documents to which an Affiliate of the DBP II Seller is a party, an affiliate of Purchaser reasonably satisfactory to DBP II Lender) to be subject to substantially the same economic terms and conditions as currently contained in the Assumed Loan Documents, and Purchaser hereby agrees to pay the administrative and legal fees of the DBP II Lender or its designee. With respect to the assumption of the Assumed Loan, it is expressly understood and agreed that (a) Purchaser shall be solely responsible for obtaining the DBP II Lender’s consent to any loan assumption and for the coordination thereof, (b) with the exception of the fees or expenses of the DBP II Seller’s attorneys or other professionals engaged by the DBP II Seller (which fees or expenses shall be paid solely by the DBP II Seller), Purchaser shall pay all fees, costs, and expenses in connection with any loan assumption(s), including the DBP II Lender’s expenses (including attorney’s fees) relating to the assumption and a transfer fee of 1% of the outstanding principal balance of the Assumed Loan, and (c) the Assumption Agreement shall include an affirmative release of the applicable DBP II Seller and its respective Affiliates by the DBP II Lender (collectively, the “Releases”) of all liabilities and obligations under the Assumed Loan Documents, in form and substance acceptable to DBP II Seller and such Affiliates, in respect of periods after the Closing of the sale of the DBP II Property. DBP II Seller shall reasonably cooperate with Purchaser in connection with the assumption of the Assumed Loan pursuant to the terms hereof, all at no cost (other than DBP II Seller’s legal and other professional fees and expenses) and at no risk to DBP II Seller. WRIT Industrial V 4.2.2 Notwithstanding the provisions of Section 4.2.1, if the DBP II Lender does not give its consent to the assumption by Purchaser of the DBP II Loan and does not execute the ...

Assumed Loan. As of the Closing Date, Buyer shall have assumed Seller’s obligation under the Assumed Loan, and all required approvals from Seller’s lender shall have been obtained. Seller shall reasonably cooperate and assist with obtaining the consent of its lender to Buyer’s assumption of the Assumed Loan.

Assumed Loan. Attached hereto as Exhibit B is a true, correct and complete list of the material Assumed Loan Documents to date. Seller represents that is has delivered to Buyer true, correct and complete copies of the Assumed Loan Documents. Seller has not received written notice from the Lender or Servicer asserting an Event of Default under the Assumed Loan Documents that remains uncured on the date hereof. To the best of Seller’s knowledge, there is no outstanding event of default under the Assumed Loan Documents and no event has occurred that with notice or the passage of time, or both, would constitute an event of default under the Assumed Loan Documents. Seller is current in all payments of principal and interest due under the Assumed Loan through the last scheduled payment date. Exhibit B accurately sets forth the unpaid principal balance of the Assumed Loan as of the last scheduled payment date (taking into account such payment), and the principal amount of any deposits, reserves or escrows held or established in connection with therewith as of the date specified on Exhibit B, which is the last date on which such information was provided to Seller by Lender or Servicer.

Assumed Loan. Such agreements as may be required by Barclays Capital Real Estate Inc, the holder of the Assumed Loan for Buyer’s assumption of the Assumed Loan.

Assumed Loan. [Intentionally Deleted].

Assumed Loan. Such assumption agreement as may reasonably be required by the holder of the Assumed Loan for the assumption by Buyer of the Assumed Loan.

Assumed Loan. As of July 8, 2010, the Loan has an unpaid principal balance as of the date of this Agreement, of TWENTY-EIGHT MILLION EIGHT HUNDRED NINETY-FIVE THOUSAND THREE HUNDRED THIRTY-NINE AND 48/100THS DOLLARS ($28,895,339.48), and prior to default bears interest at the rate of five and thirty-seven hundredths percent (5.37%) per annum. There is presently a balance of ONE HUNDRED NINETY THOUSAND SEVEN HUNDRED SIXTY-NINE AND 91/100THS DOLLARS ($190,769.91) in the tax escrow account, a balance of FIVE THOUSAND SIX HUNDRED NINETY-FOUR AND 87/100THS DOLLARS ($5,694.87) in the insurance escrow account and a balance of ONE HUNDRED TWENTY-ONE THOUSAND FIVE HUNDRED ONE AND 82/100THS DOLLARS ($121,501.82) in the reserves escrow account(s), maintained by the Lender parties in connection with the Loan, all of which shall remain on deposit for the benefit of Buyer as a condition of the Assumption. All such accounts are funded fully to the extent currently required by the Lender parties. There are no defaults by Seller under any of the provisions or requirements of any of the Loan Documents, nor are there any existing events or conditions which with the giving of notice or the passage of time or both may constitute a default by the Seller under any of the provisions of any of the Loan Documents. The copies of the Loan Documents delivered or made available to Buyer as part of Seller’s Materials are all of the documents to which Buyer is a party or is bound or responsible for in connection with the Loan, and such Loan Documents are accurate and complete copies (including all exhibits and schedules) of the originals thereof.

Assumed Loan. On and as of the Closing Date, Buyer shall have assumed Seller’s obligation under the Assumed Loan, and all required approvals from Seller’s lender shall have been obtained. Immediately after the Effective Date of this Agreement, Seller shall notify its lender of Buyer’s desire to assume the Assumed Loan. Buyer shall make application to assume the Assumed Loan within seven (7) days following Buyer’s receipt of an assumption application and shall diligently pursue obtaining approval for such assumption. Buyer shall have up to forty-five (45) days following its submission of the loan assumption application (the “Loan Approval Period”) to obtain Seller’s lender’s consent to Buyer’s assumption of the Assumed Loan. Seller shall reasonably cooperate and assist with obtaining the consent of its lender to Buyer’s assumption of the Assumed Loan.

Assumed Loan. With reference to the Properties that are subject to the Assumed Loan: (i) All “Immediate Repairs” referred to in Section 6.7 of the Loan and Security Agreement between Transferors and Assumption Lender (the “Assumed Loan Agreement”) have been fully completed, all costs in connection therewith have been fully paid, and all funds in the Completion/Repair Reserve under the Assumed Loan Agreement previously have been disbursed to the Property Owners except for $661,729.47 (as of July 31, 2005); (ii) All “Remaining Work” with respect to Phase II of the Xxxxxxx Place Property, as referred to in Section 6.9 of the Assumed Loan Agreement, has been fully completed, all costs in connection therewith have been fully paid, all permanent certificates of occupancy for such Property have been issued, and Transferors shall use their good faith efforts to obtain a release of all funds in the Holdback Reserve under the Assumed Loan Agreement prior to the Closing Date; (iii) No “Cash Trap Condition,” as defined in the Assumed Loan Agreement, exists with respect to the Properties which are subject to the Assumed Loan; and (iv) Transferors have provided to Transferee true and accurate copies of the 2005 Operating Budget and Capital Expenditure Budget for the Properties that are subject to the Assumed Loan, as approved by the Assumption Lender. The operations of the Properties subject to the Assumed Loan, including capital expenditures made with respect to such Properties, have been consistent with such approved budgets year-to-date through the Effective Date of this Agreement. (v) The Assumed Loan is a “qualified liability” within the meaning of Section 1.707-5(a)(6) of the Treasury Regulations.

Assumed Loan. Not Applicable