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assume
(redirected from assumability)

   Also found in: Dictionary/thesaurus, Legal 0.01 sec.
*low profile
Fig. a persona or character that does not draw attention. (*Typically: assume ~; have ~; keep ~; give oneself ~.) I try to be quiet and keep a low profile. It's hard because I just love attention.
See also: low, profile

assume liability for something

to accept the responsibility for paying a cost. Mr. Smith assumed liability for his son's student loans. The store assumed liability for the injured customer's hospital bills.


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Here is a summary of some basic loan provisions, including those already discussed, which should be identified, reread, and planned for: Extension Options and Conditions; Debt Service Coverage Ratios; Loan To Value Ratios; Assumability on Sale; Occupancy Requirements; Defeasance or Prepayment Penalties; Cure Periods on Defaults; Rate Cap/Swap Requirements; Personal Guarantees; Cross Collateralization of Assets; Interest, Capital Expenditure, and Leasing Reserve Requirements.
The transaction was awarded to a balance sheet lender, which not only offered a loan with high proceeds at a very competitive spread, but also was able to address key objectives of the borrower, including prepayment flexibility and assumability.
Even such standard loan features as prepayment protection, assumability and recourse could become the subject of a misrepresentation claim to the extent underlying provisions are nonstandard.
 
 
 
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