ASSUMABILITY definition

ASSUMABILITY. The equity interests in the Borrowers will be transferable with the consent of Capital America. If all of the Properties securing the Facility or the Permanent Loans are transferred to one purchaser, such Loans may be assumed by the purchaser if the purchaser assumes the Borrower's obligations under such Loans and, if any of the Loans have been sold into a securitization, the Rating Agencies confirm that such transfer will not result in a downgrade in the securities issued in connection with such Loans, all pursuant to documentation which is acceptable Capital America and any applicable Rating Agencies (if the Loans are sold into a securitization). Such transfer provisions will apply to a change in control of the Borrower. Upon the transfer of the equity interests or sale of the Properties, Borrower will pay all reasonable expenses in connection with the assumption of the Loan capped at 1% of the outstanding principal amount of the Loans. In addition, Capital America shall use its best efforts to coordinate with the servicers of past deals closed with affiliates of Borrower Sponsor to facilitate the assumption of such loans by Borrower Sponsor.
Sample 1
ASSUMABILITY. The equity interests in Borrower will be transferable with the consent of Capital America. If all of the Properties are transferred to one purchaser, the Loan may be assumed by the purchaser provided that the Rating Agencies confirm that such transfer will not result in a downgrade in the securities issued in connection with the Loan and the purchaser assumes the Borrower's obligations under the Loan pursuant to documentation which is acceptable to the Rating Agencies and Capital America. Such transfer provisions will apply to a change in control of the Borrower. Upon the transfer of the equity interests or sale of the Properties, Borrower will pay all reasonable expenses in connection with the assumption of the Loan capped at 1% of the outstanding principal amount of the Loan.
Sample 1
ASSUMABILITY. The Loan may be assumed upon prior written approval of Lender, its agent, successors, or assigns in accordance with the terms of the Loan Documents and the payment by Borrower of a one percent (1%) assumption fee, which right is not limited to one such assumption. SEE SPECIAL CONDITION #6.
Sample 1

Examples of ASSUMABILITY in a sentence

  • ASSUMABILITY: One time right of assumability subject to a 1% fee, rating agency confirmation and satisfaction of other conditions to be specified in the loan documents.

Related to ASSUMABILITY

  • durability means the ability of components and systems to last so that the environmental performance can still be met after a mileage set out in paragraph 2.4. and so that vehicle functional safety is ensured, if the vehicle is used under normal or intended circumstances and serviced in accordance with the manufacturer’s recommendations.

  • Sustainability means the use, development, and protection of resources at a rate and in a manner that enables people to meet their current needs while allowing future generations to meet their own needs; “sustainability” requires simultaneously meeting environmental, economic and community needs.

  • Profile means a building's cross-sectional shape or the shape of its outline.

  • Vulnerability means a weakness of an asset or mitigation that can be exploited by one or more threats.

  • Impact means any effect caused by a proposed activity on the environment including human health and safety, flora, fauna, soil, air, water, climate, landscape and historical monuments or other physical structures or the interaction among these factors; it also includes effects on cultural heritage or socio-economic conditions resulting from alterations to those factors;

  • Reliability means the degree of performance of the bulk electric system that results in electricity being delivered within Reliability Standards and in the amount desired. Electric system Reliability can be addressed by considering two basic and functional aspects of electric systems, which are Adequacy and Security.

  • Complications of Pregnancy means conditions whose diagnoses are distinct from pregnancy but are adversely affected by pregnancy or are caused by pregnancy. These conditions include acute nephritis, nephrosis, cardiac decompensation, missed abortion and similar medical and surgical conditions of comparable severity. Complications of pregnancy also include nonelective cesarean section, ectopic pregnancy which is terminated and spontaneous termination of pregnancy, which occurs during a period of gestation in which a viable birth is not possible.

  • compatibility means compatibility as defined in point (10) of Article 2 of Directive (EU) 2019/770;

  • Quality means the totality of features and characteristics of a product or service that bear on its ability to satisfy stated or implied needs;

  • traceability means the ability to trace and follow a food, feed, food-producing animal or substance intended to be, or expected to be incorporated into a food or feed, through all stages of production, processing and distribution;

  • FNS means the Food and Nutrition Service of the U.S. Department of Agriculture.

  • HUBZone small business concern means a small business concern that appears on the List of Qualified HUBZone Small Business Concerns maintained by the Small Business Administration.

  • Ability refers to mental, and physical capability. The Employer, in making a decision with respect to determining which employees are to be retained and which employees are to be laid off, shall determine qualifications, and the ability of employees to perform the duties which the remaining employees will be required to perform, in a fair, reasonable, and non-discriminatory manner. The onus of proof rests with the Employer in any dispute over the application of qualifications and ability to perform the duties which the remaining employees will be required to perform.

  • Stability means structural stability.