Substitution Agreement. 36.3.1 The Lenders’ Representative, on behalf of Senior Lenders, may exercise the right to substitute the Concessionaire pursuant to the agreement for substitution of the Concessionaire (the "Substitution Agreement") to be entered into amongst the Concessionaire, the Authority and the Lenders’ Representative, on behalf of Senior Lenders, substantially in the form set forth in Schedule-V.
36.3.2 Upon substitution of the Concessionaire under and in accordance with the Substitution Agreement, the Nominated Company substituting the Concessionaire shall be deemed to be the Concessionaire under this Agreement and shall enjoy all rights and be responsible for all obligations of the Concessionaire under this Agreement as if it were the Concessionaire; provided that where the Concessionaire is in breach of this Agreement on the date of such substitution, the Authority shall by notice grant a Cure Period of 120 (one hundred and twenty) days to the Concessionaire for curing such breach.
Substitution Agreement. The Substitution Agreement envisaged by Appendix 3 hereunder, will/may be executed within 30 (thirty) Days’ of notice by the Concessionaire to the Concessioning Authority of the Senior Lenders’ readiness to execute the same.
Substitution Agreement. 6.3.1 This Agreement shall not be assigned by the Concessionaire Provided however, subject to the provisions of this Agreement, Lenders may be given the right of substitution by execution of the Substitution Agreement in the form annexed hereto as Schedule 8.
6.3.2 The Lenders may exercise the rights of step in or substitution as provided in the Substitution Agreement provided that the Nominated Company substituting the Concessionaire shall enjoy all rights and be responsible for performing/ fulfilling all obligations of the Concessionaire under this Agreement. Provided that in the event the Lenders are unable to substitute the Concessionaire by Nominated Company as per the provisions of the Substitution Agreement, the Authority shall proceed to terminate the Agreement.
Substitution Agreement. This SUBSTITUTION AGREEMENT is entered into on this the [●] day of [●]. AMONGST
Substitution Agreement. Lenders' Representative, on behalf of Senior Lenders, may exercise the right to substitute the Concessionaire pursuant to the agreement for substitution of the Concessionaire to be entered into amongst the Concessionaire, the Authority and the Lenders' Representative, on behalf of Senior Lenders, substantially in the form set forth in Schedule P (the "Substitution Agreement").
Substitution Agreement. (a) This Agreement shall not be assigned by the Concessionaire, provided that, subject to the provisions of this Agreement, the Lenders may be given the right of substitution by execution of the Substitution Agreement.
(b) In case of a Concessionaire Event of Default and if a Substitution Agreement has been entered into, the Authority acknowledges that the Lenders will have a right to substitute the Concessionaire in accordance with Clause 28.2 and the Substitution Agreement. The Authority will suspend its right to step-in or terminate this Agreement until the expiry of the period available to the Lenders to exercise their substitution rights under Clause 28.2.
Substitution Agreement. 24.5.1 The Lenders’ Representative, on behalf of Senior Lenders, may exercise the right to substitute the Developer pursuant to the agreement for substitution of the Developer (the “Substitution Agreement”) to be entered into amongst the Developer, the Authority and the Lenders’ Representative, on behalf of Senior Lenders, substantially in the form set forth in Annexure B.
24.5.2 Upon substitution of the Developer under and in accordance with the Substitution Agreement, the Nominated Company substituting the Developer shall be deemed to be the Developer under this Agreement and shall enjoy all rights and be responsible for all obligations of the Developer under this Agreement as if it were the Developer; provided that where the Developer is in breach of this Agreement on the date of such substitution, the Authority shall by notice grant a Cure Period of 120 (one hundred and twenty) days to the Developer for curing such breach.
Substitution Agreement. The Borrowers must enter into a Master Substitution Agreement in the form attached hereto as Exhibit B (the "Substitution Agreement") on or before the Expiration Date. Subject to the terms and limitations of, and as more fully set forth in, the Substitution Agreement, if Fxxxxxx Mac has purchased at least two (2) of the Mortgages, each Borrower will have the right from time to time after the Expiration Date to substitute the Property securing such Borrower's Mortgage with another Property (a "Substitution"). If Fxxxxxx Mac does not receive a fully-executed Substitution Agreement on or before the Expiration Date, no Substitutions of any of the Properties will be permitted under any of the Mortgages.
Substitution Agreement. The Lenders‟ Representative, on behalf of Senior Lenders, may exercise the right to substitute the SPD pursuant to the agreement for substitution of the SPD (the “Substitution Agreement”) to be entered into amongst the SPD, Railways and the Lenders‟ Representative, on behalf of Senior Lenders, substantially in the form set forth in Schedule – L. Upon substitution of the SPD under and in accordance with the Substitution Agreement, the Nominated Company substituting the SPD shall be deemed to be the SPD under this Agreement and shall enjoy all rights and be responsible for all obligations of the SPD under this Agreement as if it were the SPD; provided that where the SPD is in breach of this Agreement on the date of such substitution, Railways shall by notice grant a Cure Period of [120 (one hundred and twenty) days] to the SPD for curing such breach.
Substitution Agreement. 26.3.1 The Lenders’ Representative, on behalf of Senior Lenders, may exercise the right to substitute the Concessionaire pursuant to the agreement for substitution of the Concessionaire (the “Substitution Agreement”) to be entered into amongst the Concessionaire, the Concessioning Authority and the Lenders’ Representative, on behalf of Senior Lenders, substantially in the form set forth in Schedule 4.
26.3.2 Upon substitution of the Concessionaire under and in accordance with the Substitution Agreement, the nominated company substituting the Concessionaire shall be deemed to be the Concessionaire under this Agreement and shall enjoy all rights and be responsible for all obligations of the Concessionaire under this Agreement as if it were the Concessionaire.
