Effect of Substitution. On, and with effect from, the Effective Date:
(a) the Substituted Issuer shall assume all of the obligations of the Issuer with respect to the Relevant PR Debt Instruments (whether accrued before or after the Effective Date);
(b) the Issuer shall be released from all of its obligations as principal debtor under the Relevant PR Debt Instruments; and
(c) any reference in the Conditions of the Relevant PR Debt Instruments to:
(i) the Issuer shall from then on be deemed to refer to the Substituted Issuer; and
(ii) the country in which the Issuer is domiciled or resident for taxation purposes shall from then on be deemed to refer to the country of domicile or residence for tax purposes of the Substituted Issuer.
Effect of Substitution. In the event of any substitution of shares as described in Section 4(a) above, the term "Fund" as used throughout this Agreement shall be deemed to include the open-end management investment company the shares of which have been thereby substituted for Fund Shares; and the term "Fund Shares" as used throughout this Agreement shall be deemed to include the shares (or comparable interests) in the open-end management company the shares of which have been substituted for Fund Shares.
Effect of Substitution. On agreement by the applicable Issuer to accept one or more aircraft as Substitute Aircraft for one or more Remaining Aircraft, the applicable Seller and the Issuers will execute a supplement to this Agreement (the “Substitute Aircraft Supplement”) containing a supplement to Schedule 3 with information concerning the relevant Substitute Aircraft in the form of the other tables set forth in Schedule 3, containing such other information as is required by this Clause 6.2 and addressing such other matters as the Issuers and such Seller may agree. Each Substitute Aircraft Supplement shall contain a certification in reasonable detail by such Seller of the Net Cash Flow Amount in respect of the relevant Remaining Aircraft and in respect of the related Substitute Aircraft, in each case as of the date of such Substitute Aircraft Supplement. If the aggregate Net Cash Flow Amount for each relevant Substitute Aircraft is greater than such amount for the relevant Remaining Aircraft on such date, an amount equal to the difference shall be deducted from the Purchase Price payable to the applicable Seller in respect of the Substitute Aircraft on the Closing Date in respect thereof (with such amount being applied to the Purchase Price for the first such Substitute Aircraft to be delivered hereunder and thereafter to each other Substitute Aircraft until applied in full). If the Net Cash Flow Amount for such Remaining Aircraft is greater than such aggregate amount for each such Substitute Aircraft on such date, the Issuers shall pay an amount equal to the difference to the Seller as an “Expense” (as defined in the Indenture) on the earlier of (x) the Payment Date relating to the next following Determination Date and (y) the first Closing Date for any such Substitute Aircraft. Upon delivery of a Substitute Aircraft Supplement, (A) each applicable Substitute Aircraft shall become an Aircraft and a Remaining Aircraft for all purposes of this Agreement and any company or trust that is identified in the Substitute Aircraft Supplement as transferring together with such Substitute Aircraft shall become an Aircraft Interest for all purposes of this Agreement and (B) the Remaining Aircraft that has been subjected to substitution shall cease to be an Aircraft or a Remaining Aircraft for purposes of this Agreement and any related company or trust shall cease to be an Aircraft Interest for purposes of this Agreement.
Effect of Substitution. From the [insert date] (the “ Substitution Date”), (a) no party to the Debt Documents has any further obligation to the Retiring Lender in relation to the Substituted Commitment (as defined below); (b) Retiring Lender is released from and has no further rights or obligations to a party to the Debt Documents in relation to the Substituted Commitment and any Debt Document to that extent; (c) Agent grants to Substitute Lender rights which are identical to the rights
Effect of Substitution. Any Record Holder admitted to the Partnership as a substituted Limited Partner shall have all the rights of a Limited Partner hereunder and shall be subject to and bound by all the provisions of this Agreement as if originally a party to this Agreement.
Effect of Substitution. Upon execution of the Deed Poll and the delivery of the legal opinions referred to above, the Substitute shall succeed to, and be substituted for, and may exercise every right and power, of the Issuer under the Conditions, the Securities and the Fiscal Agency Agreement with the same effect as if the Substitute had been named as the Issuer herein and therein, and the Issuer shall be released from its obligations under the Conditions, the Securities and the Fiscal Agency Agreement, and where the Substitute is the Guarantor, the Guarantor shall be released from its obligations under the Guarantee.
Effect of Substitution. (a) Any substitution under this clause 17 is deemed to be a variation of the relevant Table of Receipt Points and Delivery Points.
(b) If:
(i) Receipt Point MDQ or Delivery Point MDQ (or both) is substituted in accordance with this clause 17; and
(ii) the Rates for Services under this Agreement are expressed as an amount per kilometre per GJ or an amount per GJ per kilometre, then, for the purpose of calculating the applicable charges for Services between Receipt Points and Delivery Points to which Delivery Point MDQ or Receipt Point MDQ substituted under this clause 17 relates, the quantities of Gas the subject of those charges are deemed to be transported the greater of the number of kilometres on the relevant Pipeline:
(iii) the subject of the actual transportation; and
Effect of Substitution. A Member ceases to be a Member and to have the power to exercise any rights or powers of a Member upon assignment of all of his membership interest. The pledge or granting of an encumbrance, as permitted by this Agreement, of a membership interest shall not cause the Member pledging or encumbering such interest to cease to be a Member or to have the power to exercise any rights or powers of a Member.
Effect of Substitution. A Member shall cease to be a Member and to have the power to exercise any rights or powers of a Member upon assignment of all of its Interest in compliance with the conditions set forth in Sections 6.1 and 6.
Effect of Substitution. ARTICLE TWELVE MISCELLANEOUS
