Rights of substitution. 3.1.1. Pursuant to the rights, title and interest assigned under Clause 2.1, the Lenders’ Representative shall be entitled to substitute the Concessionaire by a Nominated Company under and in accordance with the provisions of this Agreement and the Concession Agreement.
3.1.2. The Authority hereby agrees to substitute the Concessionaire by endorsement on the Concession Agreement in favour of the Nominated Company selected by the Lenders’ Representative in accordance with this Agreement. (For the avoidance of doubt, the Senior Lenders or the Lenders’ Representative shall not be entitled to operate and maintain the Project as Concessionaire either individually or collectively).
Rights of substitution. Pursuant to the rights, title and interest assigned under Clause 2.1, the Lenders’ Representative shall be entitled to substitute the Concessionaire by a Nominated Company under and in accordance with the provisions of this Agreement and the Concession Agreement.
Rights of substitution. 3.1.1 Pursuant to the rights, title and interest assigned under Clause 2.1, the Senior Lendersshall be entitled to substitute the Concessionaire by a Selectee under and in accordance withthe provisions of this Agreement and the Concession Agreement.
3.1.2 The Concessioning Authority hereby agrees to substitute the Concessionaire by endorsement on the Concession Agreement in favour of the Selectee selected by the SeniorLenders in accordance with this Agreement (For the avoidance of doubt, the Senior Lendersshall not be entitled to operate and maintain the Project/Project Facilities and Services).
Rights of substitution. If a Lender shall fail to remit its portion of any advance required to be made under the terms of this Agreement, the other Lender may, at its option and in its sole discretion (but shall not be obligated to do so), advance such funds as may be necessary to provide for the payment in full of such advance request then due but unpaid, but without thereby relieving such Lender of its obligation to make such remittance to Laitram. A Lender shall, to the full extent of any such advance made by it, at its sole option, succeed to the interest of the other Lender with respect thereto in which case the Lender's line of credit commitment shall be automatically adjusted to reflect such additional advance by the other Lender, until such amount is remitted by such Lender to Laitram.
Rights of substitution. 3.1.1 Pursuant to the rights, title and interest assigned under Article 2.1, the Lenders’ Representative shall be entitled to substitute the Developer by a NSL under and in accordance with the provisions of this Agreement and the Concession Agreement.
3.1.2 The Mandi Board hereby agrees to substitute the Developer by assignment and novation of the Concession Agreement in favour of the NSL selected by the Lenders’ Representative in accordance with this Agreement. For the avoidance of doubt, the Lenders or the Lenders’ Representative shall not be entitled to operate as the Developer either individually or collectively.
Rights of substitution. 3.1.1 Pursuant to the rights, title and interest assigned under Article 2.1, the Lenders’ Representative shall be entitled to substitute the Concessionaire by a Nominated Company under and in accordance with the provisions of this Agreement and the Concession Agreement.
3.1.2 The Railway Administration hereby agrees to substitute the Concessionaire by endorsement on the Concession Agreement in favour of the Nominated Company selected by the Lenders’ Representative in accordance with this Agreement. (For the avoidance of doubt, the Lenders or the Lenders’ Representative shall not be entitled to operate as the Concessionaire either individually or collectively).
Rights of substitution. 3.1.1 Pursuant to the rights, title and interest assigned under Clause 2.1, the Lenders’ Representative shall be entitled to substitute the Concessionaire by a Nominated Company under and in accordance with the provisions of this Agreement and the Concession Agreement.
3.1.2 The Authority hereby agrees to substitute the Concessionaire by endorsement on the Concession Agreement in favour of the Nominated Company selected by the Lenders’ Representative in accordance with this Agreement. (For the avoidance of doubt, the Senior Lenders or the Lenders’ Representative shall not be entitled to operate and maintain the Hospital as Concessionaire either individually or collectively).
Rights of substitution. 3.1.1 Pursuant to the rights, title and interest assigned under Article 2.1, the Lenders’ Representative shall be entitled to substitute the Developer by a Nominated Company under and in accordance with the provisions of the Substitution Agreement and the Development Agreement.
3.1.2 Authority hereby agrees to substitute the Developer by assignment of the Development Agreement in favour of the Nominated Company selected by the Lenders’ Representative or Authority, as the case may be, in accordance with the Substitution Agreement. In the event the Nominated Company is selected by the Lenders’ Representative, The Lenders’ Representative has to obtain Authority’s prior approval for such substitution. (For the avoidance of doubt, the Lenders or the Lenders’ Representative either individually or collectively, shall not be entitled to operate as the Developer.
Rights of substitution. Pursuant to the rights, title and interest assigned under Clause 2.1, the Lenders’ Representative shall be entitled to substitute the Concessionaire by a Nominated Company under and in accordance with the provisions of this Agreement and the Concession Agreement. The Authority hereby agrees to substitute the Concessionaire by endorsement on the Concession Agreement in favour of the Nominated Company selected by the Lenders’ Representative in accordance with this Agreement. (For the avoidance of doubt, the Senior Lenders or the Lenders’ Representative shall not be entitled to operate and maintain the Storage Facility as Concessionaire either individually or collectively). Substitution upon occurrence of Financial Default Upon occurrence of a Financial Default, the Lenders’ Representative may issue a notice to the Concessionaire (the “Notice of Financial Default”) along with particulars thereof, and send a copy to the Authority for its information and record. A Notice of Financial Default under this Clause 3 shall be conclusive evidence of such Financial Default and it shall be final and binding upon the Concessionaire for the purposes of this Agreement. Upon issue of a Notice of Financial Default hereunder, the Lenders’ Representative may, without prejudice to any of its rights or remedies under this Agreement or the Financing Agreements, substitute the Concessionaire by a Nominated Company in accordance with the provisions of this Agreement. At any time after the Lenders’ Representative has issued a Notice of Financial Default, it may by notice require the Authority to suspend all the rights of the Concessionaire and undertake the operation and maintenance of the Storage Facility in accordance with the provisions of Article 36 of the Concession Agreement, and upon receipt of such notice, the Authority shall undertake Suspension under and in accordance with the provisions of the Concession Agreement. The aforesaid Suspension shall be revoked upon substitution of the Concessionaire by a Nominated Company, and in the event such substitution is not completed within 180 (one hundred and eighty) days from the date of such Suspension, the Authority may terminate the Concession Agreement forthwith by issuing a Termination Notice in accordance with the provisions of the Concession Agreement; provided that upon written request from the Lenders’ Representative and the Concessionaire, the Authority may extend the aforesaid period of 180 (one hundred and eighty) days b...
Rights of substitution. 3.1.1 Pursuant to the rights, title and interest assigned under Section 2.1, the Lenders’ Representative shall be entitled to substitute the Lessee by a Nominated Company under and in accordance with the provisions of the Substitution Agreement and the Lease Agreement.
3.1.2 RLDA hereby agrees to substitute the Lessee by assignment of the Lease Agreement in favour of the Nominated Company selected by the Lenders’ Representative or RLDA, as the case may be, in accordance with the Substitution Agreement. In the event the Nominated Company is selected by the Lenders’ Representative, The Lenders’ Representative has to obtain RLDA’s prior approval for such substitution. (For the avoidance of doubt, the Lenders or the Lenders’ Representative either individually or collectively, shall not be entitled to operate as the Lessee.
