Assumability definition
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.
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.
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.