Substitute Index definition

Substitute Index means any index comparable to the GDP Deflator selected by Landlord and reasonably satisfactory to Tenant then prepared and published by an agency of the Government of the United States, appropriately adjusted for changes in the manner in which such index is prepared and/or year upon which such index is based.
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Substitute Index means a successor index identified by the Calculation Agent using commercially reasonable efforts, with characteristics, objectives and rules similar to the Index in effect immediate prior to the occurrence of the Index Cancellation.
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Substitute Index means an index which is calculated in accordance with the following provisions:
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Examples of Substitute Index in a sentence

  • The Substitute Index Rate shall be used in lieu of the Pre-Substitute Rate, and all references in this Note to the Pre-Substitute Rate shall be deemed to refer to the Substitute Index Rate, effective as of the date specified by Xxxxxx in a written notice given by Xxxxxx to Borrower.

  • In selecting the Substitute Index Rate, Lender shall consider to what extent and the manner in which industry-accepted substitutes for the Index have been established, and the parties acknowledge that different Substitute Index Rates may be selected for different types of loans and transactions.

  • Accordingly, Lender shall use reasonable efforts to select a Substitute Index Rate that Lender in good faith believes is a practical means of preserving the parties’ intent relative to the economics of the Pre-Substitute Rate.

  • Xxxxxxxx agrees that Lender shall not be liable in any manner for its selection of a Substitute Index Rate, provided that Lender makes such selection in good faith.

  • The Substitute Index Rate shall remain in effect from the effective date set forth in such notice until the Maturity Date, as such may be extended, unless such an instance occurs where the Substitute Index Rate is no longer available, in which case the provisions of this section will again apply for purposes of replacing the Substitute Index Rate After default, interest will be charged on unpaid principal at the interest rate stated in Section 7 of this Note.


More Definitions of Substitute Index

Substitute Index means a floating rate index (a) that is commonly accepted by market participants in commercial mortgage backed securities transactions as an alternative to LIBOR, as determined by Lender in good faith, and (b) that is publicly recognized by the International Swaps and Derivatives Association (ISDA) as an alternative to LIBOR.
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Substitute Index means the most recently effective substitute SIFMA Index, if any, designated in writing by the Borrower, for tax-exempt bonds meeting the then-current SIFMA criteria. The Calculation Agent shall be entitled to conclusively rely upon the determination of a Substitute Index by the Borrower and shall have no obligation to select a Substitute Index, nor shall the Calculation Agent be responsible for monitoring the selection of Substitute Index by the Borrower.
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Substitute Index if applicable, shall have the meaning specified in Section 13.
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Substitute Index shall have the meaning specified in the Fee Letter.
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Substitute Index means any substitute index approved by the Security Calculation Agent as a Substitute Index pursuant to Section 3 hereof. (Face of Security continued on next page)
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Substitute Index means any substitute index approved by the Security Calculation Agent, following an Index Replacement Event pursuant to Section 3 hereof
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Substitute Index means any substitute index approved by the Security Calculation Agent as a Substitute Index pursuant to Section 3 hereof.
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