By the Grantor. The Grantor has the right, at any time and from time to time, to substitute assets of equal fair market value for any Asset. Such right is exercisable by the Grantor in a non-fiduciary capacity without the approval or consent of any person in a fiduciary capacity. Each time the Grantor exercises such right, it will be deemed the Grantor’s certification to the Bank that any substituted assets are of equal fair market value to the Assets received therefor. The Grantor hereby covenants not to exercise such right without delivering to the Bank a completed and fully executed Exhibit C (Transfers and Substitutions) in furtherance thereof.
By the Grantor. (1) Without limiting clause 8.1(c), the Grantor must:
By the Grantor. (1) Other than during an ongoing Adverse Financial Event, RBC Ratio Triggering Event, or Reinsurance Credit Event, the Grantor or its designated Investment Manager, without the consent of, or prior to notice to, the Beneficiary, may direct the Trustee to substitute or exchange Assets contained within the Trust Account by delivering a Grantor Substitution Notice substantially in the form attached hereto as Exhibit H-1 from a Grantor Authorized Officer; provided, that (A) at the time of such substitution or exchange, the Assets to be so substituted or exchanged are replaced with other Eligible Assets such that the Book Value of the Assets in the Trust Account, after giving effect to such substitution or exchange, is at least equivalent to the Book Value of the Assets in the Trust Account prior to such substitution or exchange (the “Replacement Assets”) and (B) the Replacement Assets shall be deposited with the Trustee (I) on the same day of the substitution or exchange for publicly traded securities, (II) within ten (10) Business Days of the substitution or exchange for Bank Loans and Private Debt, with no more than $100,000,000 pending deposit for any Bank Loan or Private Debt and (III) within twelve (12) Business Days of the substitution or exchange for Commercial Mortgage Loans with no more than $200,000,000 pending deposit for any Commercial Mortgage Loan, provided that in no event shall more than $200,000,000 of Replacement Assets, in the aggregate, be pending deposit at any given time. For the avoidance of doubt, any Assets pending deposit in connection with a withdrawal pursuant to Section 4(f) shall be taken into account in determining whether the Grantor is in compliance with such limits.
By the Grantor. The Grantor may from time to time substitute or exchange Assets contained within the Trust Account, provided the Assets received and deposited in the Trust Account in such substitution or exchange (the "Replacement Assets") satisfy the definition of "Assets" in Section 2.1(a) of this Trust Agreement and provided further that either (i) the aggregate fair market value (determined by the Trustee in accordance with Section 2.1(c) on such day) of such Replacement Assets to be deposited in or credited to the Trust Account on such day is at least equal, in the aggregate, to the fair market value of the Assets being removed from the Trust Account on such day, or (ii) the Beneficiary has given its prior written consent to such substitution or exchange, which consent shall not be unreasonably withheld.
By the Grantor. In the event that during the Term of this Agreement the Grantor is required by public authorities or by lawful order or decree of a regulatory agency or court to relocate or modify any or all of the Duct System within which _DN or any part thereof is located, the Grantor and the Grantee shall cooperate in performing such relocation or modifications so as to minimize any interference with the use of _DN or __Net by either party and to avoid unreasonably impairing the ability of each to provide communications services of the type, quality and reliability contemplated by this Agreement. Any such relocation shall be accomplished in accordance with the provisions of Exhibit 3.29 Cable Specifications. Unless otherwise agreed by the parties, all costs directly associated with the relocation of the Cable and Equipment shall be shared by the parties on a pro rata basis based on the number of fiber optic filaments each party controls.
By the Grantor. The Grantor shall have the right to make Periodic Inspections of any part of the Grantee's operations occupying the Grantor's property. The Grantor will give the Grantee reasonable advance written notice of any periodic inspections, except in those instances where, in the sole judgment of the Grantor, safety considerations justify the need for a Periodic Inspection without the delay of waiting until a written notice has been forwarded to the Grantee. A representative of the Grantee may accompany the Grantor's representative on all Periodic Inspections.
