Consequence of Substitution Sample Clauses

Consequence of Substitution. Where there has been a substitution of Benefciary, the Agent shall, where required under the Grant Legislation, cause to be paid out of the Savings Account a return of all or a portion of any Government Grant received by the Trustee in respect of the Benefciary, and/or any income earned thereon.
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Consequence of Substitution. 20.4.1. The Authority shall grant, to the Nominated Company, the right to develop, design, finance, construct, operate and maintain the Project together with all other rights subject to fulfilment of Lessee’s obligation by the Nominated Company, for the remainder of the Lease Term, by the novation of the Agreement, if applicable, in favour of the Nominated Company. The Authority shall also execute a new Substitution Agreement with the Nominated Company and the Lenders, if there be any. 20.4.2. All agreements in respect of the Project including Financing Agreement executed by the Lessee shall stand transferred and novated in favour of the Nominated Company. Further, all rights of the Lessee on the Land Parcel and built-up area in terms of the Agreement shall stand transferred and novated in favour of the Nominated Company. All approvals/clearances of Authority received by the Lessee shall stand transferred and novated in favour of the Nominated Company. All letter of allotments or sub-lease deeds executed by the Lessee for marketing the built-up area on the Land Parcel in terms of the Agreement shall stand transferred and novated in favour of the Nominated Company. The terms and conditions set out in this Agreement shall be binding on the Nominated Company upon substitution of the Lessee. The Lessee shall get replaced by the Nominated Company for all purposes related to the Project.

Related to Consequence of Substitution

  • Acceptance of Surrender No surrender to Landlord of this Agreement or of the Leased Property or any part thereof, or of any interest therein, shall be valid or effective unless agreed to and accepted in writing by Landlord and no act by Landlord or any representative or agent of Landlord, other than such a written acceptance by Landlord, shall constitute an acceptance of any such surrender.

  • Cancellation and Destruction of Surrendered Receipts; Maintenance of Records All Receipts surrendered to the Depositary shall be cancelled by the Depositary. The Depositary is authorized to destroy Receipts so cancelled in accordance with its customary practices. Cancelled Receipts shall not be entitled to any benefits under this Deposit Agreement or be valid or obligatory for any purpose.

  • Substitution of Collateral A Fund may substitute securities for any securities identified as Collateral by delivery to the Custodian of a Pledge Certificate executed by such Fund on behalf of the applicable Portfolio, indicating the securities pledged as Collateral.

  • Maintenance of Certain Servicing Insurance Policies The Master Servicer shall during the term of its service as master servicer maintain in force (i) policies of insurance covering errors and omissions in the performance of its obligations as master servicer under this Agreement and (ii) a fidelity bond covering its officers, employees, or agents. Each policy and bond together shall comply with the requirements from time to time of Fannie Mae for persons performing xxxxxcxxx for mortgage loans purchased by Fannie Mae.

  • Cancellation and Destruction of Surrendered ADRs; Maintenance of Records All ADRs surrendered to the Depositary shall be canceled by the Depositary. Canceled ADRs shall not be entitled to any benefits under the Deposit Agreement or be valid or enforceable against the Depositary for any purpose. The Depositary is authorized to destroy ADRs so canceled, provided the Depositary maintains a record of all destroyed ADRs. Any ADSs held in book-entry form (e.g., through accounts at DTC) shall be deemed canceled when the Depositary causes the number of ADSs evidenced by the Balance Certificate to be reduced by the number of ADSs surrendered (without the need to physically destroy the Balance Certificate).

  • DISCLAIMER OF ENDORSEMENT NASA does not endorse or sponsor any commercial product, service, or activity. NASA's participation in this Agreement or provision of goods, services, facilities or equipment under this Agreement does not constitute endorsement by NASA. Partner agrees that nothing in this Agreement will be construed to imply that NASA authorizes, supports, endorses, or sponsors any product or service of Partner resulting from activities conducted under this Agreement, regardless of the fact that such product or service may employ NASA-developed technology.

  • Substitution of Bank If (i) the obligation of any Bank to make Euro-Dollar Loans has been suspended pursuant to Section 8.02 or (ii) any Bank has demanded compensation under Section 8.03, the Borrower shall have the right, with the assistance of the Agent, to seek a mutually satisfactory substitute bank or banks (which may be one or more of the Banks) to purchase the Note and assume the Commitment of such Bank.

  • Substitution of Banks 13 3.8. Survival.............................................................14

  • Replacement of Lost Investments In the event of a loss of Investments for which the Custodian is responsible under the terms of this Agreement, the Custodian shall replace such Investment, or in the event that such replacement cannot be effected, the Custodian shall pay to the Fund the fair market value of such Investment based on the last available price as of the close of business in the relevant market on the date that a claim was first made to the Custodian with respect to such loss, or, if less, such other amount as shall be agreed by the parties as the date for settlement.

  • Maintenance of Physical Damage Insurance Policies The Servicer shall, in accordance with its customary servicing procedures and underwriting standards, require that each Obligor shall have obtained physical damage insurance covering each Financed Vehicle as of the origination of the related Receivable.

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