Common use of Substitution by the CTA Clause in Contracts

Substitution by the CTA. 31.2.1 if, under the circumstances contemplated by Section 31.1.1, no Substituting Entity is appointed pursuant to Section 31.1 , the CTA shall have the right to continue this Agreement with a Substituting Entity, appointed in consultation with the Funders, provided that such Substituting Entity shall enter into agreements with the Funders (other than the Participants) on terms satisfactory to such Funders acting reasonably to repay terms satisfactory to such Funders acting reasonably to repay any amounts outstanding under the Funding Agreements (other than Funding Agreements provided for investments in the Equity of the Concessionaire) and, under provisions of Section 17 shall be applicable notwithstanding that this Agreement shall not have been terminated.

Substitution by the CTA. 31.2.1 if30.2.1 If, under the circumstances contemplated by Section 31.1.1, no Substituting Entity is appointed pursuant to Section 31.1 31.1, the CTA shall have the right to continue this Agreement with a Substituting Entity, appointed in consultation with the Funders, provided that such Substituting Entity shall enter into agreements with the Funders (other than the Participants) on terms satisfactory to such Funders acting reasonably to repay terms satisfactory to such Funders acting reasonably to repay any amounts outstanding under the Funding Agreements (other than Funding Agreements provided for investments in the Equity of the Concessionaire) and, under such circumstances, the provisions of Section 17 shall be applicable notwithstanding that this Agreement shall not have been terminated.