Assumption Party definition

Assumption Party means a counterparty to an executory contract or unexpired lease to be assumed and/or assigned by the applicable Debtor under the Plan.
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Assumption Party means a counterparty to an executory contract or unexpired lease to be assumed and/or assigned by the Debtors.
Sample 1Sample 2Sample 3
Assumption Party means a counterparty to an executory contract or unexpired lease to be assumed and/or assigned by the Debtors under this Plan (and with respect to an Assumed Municipal Bond Agreement, the Indenture Trustee associated with such Assumed Municipal Bond Agreement).
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Examples of Assumption Party in a sentence

  • EGSL and the Assumption Party have entered into the Debt Assumption Agreement, dated as of December 31, 2007 (as amended or supplemented from time to time, the "Debt Assumption Agreement"), pursuant to which, among other things, the Assumption Party agreed to assume certain obligations of EGSL on the Outstanding Debt and agreed to execute and deliver to EGSL and the Trustee this Instrument of Assumption as evidence of the assumption of certain of such obligations.

  • As compensation to EGSI for the allocation of assets to the Assumption Party described in Recital 7.(c), and notwithstanding the sole liability of EGSL on the Outstanding Debt resulting from the Jurisdictional Separation, the Assumption Party wishes to assume certain liabilities of EGSL relating to the Outstanding Debt on the terms and to the extent set forth herein.

  • No provision of this Instrument of Assumption shall be waived, amended or supplemented except by a written instrument executed by EGSL, the Assumption Party and the Trustee.

  • With respect to each executory contract or unexpired lease as to which a Treatment Objection is timely filed and properly served and that is not otherwise resolved by the parties after a reasonable period of time, the Debtors, in consultation with the Bankruptcy Court, shall schedule a hearing on such Treatment Objection and provide at least 14 calendar days’ notice of such hearing to the relevant Assumption Party or Rejection Party.

  • Upon any default by an Assumption Party pursuant to the relevant Security Agreement, the Louisiana Company is authorized to "exercise any rights and remedies available to it under the Security Agreement," including the right to foreclose on the assets securing the Assumption Agreement in order to satisfy the debt.

  • With respect to each executory contract or unexpired lease as to which a Treatment Objection is timely filed and properly served and that is not otherwise resolved by the parties after a reasonable period of time, the Debtors, in consultation with the Bankruptcy Court, will schedule a hearing on such Treatment Objection and provide at least 14 calendar days’ notice of such hearing to the relevant Assumption Party or Rejection Party.

  • In furtherance of the above, the Assumption Party, from and after the Assumption Date, agrees to act in the capacity of each Transferred Role in accordance with the terms of the applicable Transaction Documents.

  • If the Louisiana Company takes such action, however, it must at the same time ensure that the obligation of the Assumption Party providing the funds for the redemption or repurchase is reduced just as if the precise debt it had designated had been redeemed or repurchased.

  • EGSL shall indemnify and hold the Assumption Party harmless from and against all losses, claims, damages, taxes, penalties, liabilities, disbursements, litigation expenses, attorney's fees and expenses or court costs arising out of any breach by EGSL of any of its obligations contained herein or contained in the Outstanding FMB Debt and in the Indenture under which Outstanding FMB Debt has been issued, and in any Agreement, as the case may be, and which has not been assumed by the Assumption Party.

  • Notwithstanding the above, all cash held in the “Qualified Bank Accounts” (as such term is defined in the Indenture) has not been transferred to the Assumption Party and has been retained by and remains with the Assignor, which is a “Qualified Institution” (as such term is defined in the Indenture).

Related to Assumption Party

  • Assumption Agreement has the meaning specified in Section 2.18(d)(ii).

  • Affiliated Lender Assignment and Assumption means an assignment and assumption entered into by a Lender and an Affiliated Lender (with the consent of any party whose consent is required by Section 9.05) and accepted by the Administrative Agent in the form of Exhibit A-1 or any other form approved by the Administrative Agent and the Borrower.

  • Auction Party has the meaning set forth in the definition of “Dutch Auction”.

  • Permitted Loan Purchase Assignment and Acceptance means an assignment and acceptance entered into by a Lender as an Assignor and Holdings, the Borrower or any of the Subsidiaries as an Assignee, as accepted by the Administrative Agent (if required by Section 9.04) in the form of Exhibit F or such other form as shall be approved by the Administrative Agent and the Borrower (such approval not to be unreasonably withheld or delayed).

  • Transaction Party means the Company and each Guarantor, collectively, “Transaction Parties”.

  • Lender Affiliate means, (a) with respect to any Lender, (i) an Affiliate of such Lender or (ii) any entity (whether a corporation, partnership, trust or otherwise) that is engaged in making, purchasing, holding or otherwise investing in bank loans and similar extensions of credit in the ordinary course of its business and is administered or managed by a Lender or an Affiliate of such Lender and (b) with respect to any Lender that is a fund which invests in bank loans and similar extensions of credit, any other fund that invests in bank loans and similar extensions of credit and is managed by the same investment advisor as such Lender or by an Affiliate of such investment advisor.

  • Assumption The process whereby, on sale or transfer of a legal or beneficial interest in a Mortgaged Property, the new owner of such Mortgaged Property becomes legally obligated under the terms of the related existing Security Instrument, Mortgage Note and any addenda and riders to such Security Instrument or Mortgage Note. Subsequent to the Assumption, the new owner of the property shall be deemed to be the Borrower under the related Mortgage Loan Documents.

  • Purchasing Borrower Party means Holdings or any subsidiary of Holdings.

  • Assignment and Acceptance means an assignment and acceptance entered into by a Lender and an Eligible Assignee, and accepted by the Agent, in substantially the form of Exhibit C hereto.

  • Additional Borrower means a company which becomes an Additional Borrower in accordance with Clause 25 (Changes to the Obligors).

  • Assumption Date has the meaning set forth in Section 9.23 of the Sale and Servicing Agreement.

  • Assignee Lender is defined in Section 11.11.1.

  • Transfer Supplement has the meaning set forth in Section 6.3(c) of this Agreement.

  • Commitment Transfer Supplement means a document in the form of Exhibit 16.3 hereto, properly completed and otherwise in form and substance satisfactory to Agent by which the Purchasing Lender purchases and assumes a portion of the obligation of Lenders to make Advances under this Agreement.

  • prospective assignment means an assignment that is intended to be made in the future, upon the occurrence of a stated event, whether or not the occurrence of the event is certain;

  • Assignment and Assumption Agreements means each of the Assignment and Assumption Agreements to be executed between a Trustee and trustee of the relevant Successor Trust in accordance with the relevant Trust Agreement, as the same may be amended, modified or supplemented from time to time.

  • Assignment and Assumption Agreement means an Assignment and Assumption Agreement substantially in the form of Exhibit A.

  • Assignment / job means the work to be performed by the Consultant pursuant to the Contract.

  • Foreign Loan Party means any Loan Party that is not a Domestic Loan Party.

  • Assuming Lender has the meaning specified in Section 2.18(d).

  • Assignment and Assumption of Lease has the meaning set forth in Section 3.02(a)(v).

  • Assignor as defined in Section 10.6(c).

  • Purchaser Affiliate means any affiliate of the Purchaser, including a transferee who is an affiliate of the Purchaser, and any person who controls the Purchaser or any affiliate of the Purchaser within the meaning of Section 15 of the Securities Act or Section 20 of the Exchange Act; and

  • Certification Party As defined in Section 11.05.

  • Assignment and Conveyance An assignment and conveyance of the Mortgage Loans purchased on a Closing Date in the form annexed hereto as Exhibit 4.

  • Transferred Guarantor shall have the meaning assigned to such term in Section 7.09.