Common use of Consequence of Substitution Clause in Contracts

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.

Consequence of Substitution. Where there has been a substitution of BenefciaryBeneficiary, 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 BenefciaryBeneficiary, and/or any income earned thereon.