Common use of Investing in Substitute Assets Clause in Contracts

Investing in Substitute Assets. (1) At any time that no Asset Coverage Test Breach Notice is outstanding and prior to a Notice to Pay having been served on the Partnership, the Partnership may invest in and hold Substitute Assets, provided that the aggregate value of the Substitute Assets held by the Partnership does not at any time exceed the percentage of the total assets of the Partnership prescribed by the CMHC Guide at such time and provided that such investments are made in accordance with the terms of the Cash Management Agreement and subject to Article 6 (Priorities of Payments). For greater certainty, amounts standing to the credit of the Partnership in any Guarantor Account will not constitute Substitute Assets.

Investing in Substitute Assets. (1a) At any time that no Asset Coverage Test Breach Notice is outstanding and prior to a Notice to Pay having been served on the Partnership, the Partnership may invest in and hold Substitute Assets, provided that the aggregate value of the Substitute Assets held by the Partnership does not at any time exceed the percentage of the total assets of the Partnership prescribed by the CMHC Guide at such time and provided that such investments are made in accordance with the terms of the Cash Management Agreement and subject to Article 6 (Priorities of Payments). For greater certainty, amounts standing to the credit of the Partnership in any Guarantor Account will not constitute Substitute Assets.