Assignment and Assumption of Loan Documents Sample Clauses

Assignment and Assumption of Loan Documents. Assignment and ------------------------------------------- Assumption Agreement relating to the Loan Documents, duly executed and acknowledged by the appropriate ▇▇▇▇ Entities and the Existing Lender, in a form reasonably acceptable to NYSTRS;
View Source
Assignment and Assumption of Loan Documents. (a) Assignor does hereby grant, bargain, sell, convey, assign, transfer, set over and deliver unto Assignee, its successors and assigns, all of Assignor’s right, title, interest, obligations, duties and liabilities in, to and under the Loan Documents. Nothing herein is meant, nor should it be construed, to release Assignor from any of its obligations under the Loan Documents. (b) As a direct and primary obligation, Assignee hereby agrees to observe and perform all duties, agreements, covenants, liabilities and obligations under the Loan Documents, including without limitation, payment of the indebtedness in accordance with the terms of the Loan Documents, as modified herein. By virtue of this Agreement, all references in the Loan Documents to Grantor, Borrower, Maker, or similarly, shall be and mean Assignee. Assignee hereby confirms that it grants Lender a security interest in all the collateral described in the Security Instrument, including without limitation, the fixtures and personal property collateral described therein, and shall execute and record concurrently herewith this Agreement in the Records. Except as limited hereunder, Assignee and Assignor acknowledge and agree that the obligations under the Loan Documents are joint and several. Assignee acknowledges and agrees that any performance or non-performance of the Loan Agreement, the Security Instrument, the Note or other Loan Documents prior to the date hereof does not affect or diminish in any way the requirement of compliance therewith. The foregoing assumption by Assignee is absolute and unconditional, is not subject to any defenses, waivers, claims or offsets, nor may it be affected or impaired by any agreement, condition, statement or representation of Assignor or any failure to perform the same and Assignee hereby relinquishes, waives and releases any and all such defenses, claims, offsets, and causes of action. Assignee hereby represents that it has read and approved of and will comply with, and be bound by, all of the terms conditions, and provisions contained in the Loan Agreement, the Note, the Security Instrument, the Assignment of Leases and all other Loan Documents. (c) ▇▇▇▇▇▇ hereby consents to the assignment by Assignor and assumption by Assignor of Assignor’s right, responsibilities duties and obligations under the Loan Documents.
View Source

Related to Assignment and Assumption of Loan Documents

  • Assignment and Assumption Agreement The parties to each assignment shall execute and deliver to the Administrative Agent an Assignment and Assumption Agreement, together with a processing and recordation fee of $3,500, and the assignee, if it is not a Lender, shall deliver to the Administrative Agent an administrative questionnaire provided by the Administrative Agent.

  • Assignment and Assumption Consent Effective as of the First Amendment Effective Date, for agreed consideration, ▇▇▇ hereby irrevocably sells and assigns to MBL, and MBL hereby irrevocably purchases and assumes all rights and obligations in its capacity as Lender under the LC Reimbursement Agreement and other Credit Documents, including, without limitation, all of MBL’s rights and obligations with respect to the Collateral and Intercreditor Agreement and the Security Documents (as defined in the Collateral and Intercreditor Agreement, and such Security Documents together with the Collateral and Intercreditor Agreement are referred to herein as the “Security Documents”) (the “Lender Assignment”). Effective as of the First Amendment Effective Date and in accordance with Section 7.9 of the LC Reimbursement Agreement, the Account Party hereby consents to the Lender Assignment.

  • Assignment and Assumption The parties to each assignment shall execute and deliver to the Administrative Agent an Assignment and Assumption, together with a processing and recordation fee in the amount of $3,500; provided, however, that the Administrative Agent may, in its sole discretion, elect to waive such processing and recordation fee in the case of any assignment. The assignee, if it is not a Lender, shall deliver to the Administrative Agent an Administrative Questionnaire.

  • Assignment and Assumption of Contracts Two (2) counterpart originals of the Assignment and Assumption of Contracts, duly executed by Buyer.

  • Assignment and Assumption of Leases Two (2) counterparts of the Assignment and Assumption of Leases, executed, acknowledged and sealed by Purchaser;