Assumption of VHDA Senior Loan Sample Clauses

Assumption of VHDA Senior Loan. If (A) the County Board can cause a transfer of title to the Property from the defaulting Borrower to either (I) the County Board, (II) an entity the County Board owns or controls, or (III) any other entity selected by the County Board, and (B) the Borrower’s Event of Default is otherwise cured, then VHDA will allow such entity to assume the VHDA Senior Loan. In such case, all provisions of the VHDA Notes, and XXXX’s rights thereunder, shall remain applicable and enforceable, including prepayment penalty provisions, if any.
Sample 1
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Assumption of VHDA Senior Loan. If (A) the County Board can cause a transfer of title to the Property from the defaulting Leasehold Borrower to either (I) the County Board, (II) an entity the County Board owns or controls, or (III) any other entity selected by the County Board, and
Sample 1

Related to Assumption of VHDA Senior Loan

  • Assumption of Obligations Any buyer or transferee of Lessor's interest in this Lease shall be deemed to have assumed Lessor's obligation hereunder. Each Broker shall be a third party beneficiary of the provisions of Paragraphs 1.10, 15, 22 and 31. If Lessor fails to pay to a Broker any amounts due as and for commissions pertaining to this Lease when due, then such amounts shall accrue Interest. In addition, if Lessor fails to pay any amounts to Lessee's Broker when due, Lessee's Broker may send written notice to Lessor and Lessee of such failure and if Lessor fails to pay such amounts within ten (10) days after said notice, Lessee shall pay said monies to its Broker and offset such amounts against Rent. In addition, Lessee's Broker shall be deemed to be a third party beneficiary of any commission agreement entered into by and/or between Lessor and Lessor's Broker.

  • Assignment of Contract A. Unless expressly agreed to elsewhere in the Contract, no assignment by a party hereto of any rights under or interests in the Contract will be binding on another party hereto without the written consent of the party sought to be bound; and, specifically but without limitation, money that may become due and money that is due may not be assigned without such consent (except to the extent that the effect of this restriction may be limited by law), and unless specifically stated to the contrary in any written consent to an assignment, no assignment will release or discharge the assignor from any duty or responsibility under the Contract Documents.

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