Substitution of Property. 20.1 Substitution of Property for the Leased Property. ------------------------------------------------
Substitution of Property. The City has the option at any time and from time to time, to substitute other real property (the “Substitute Property”) for the Leased Property or any portion thereof (the “Former Property”), upon satisfaction of all of the following requirements which are hereby declared to be conditions precedent to such substitution:
Substitution of Property. Subject to the terms and conditions ------------------------ set forth in this Section 2.7, Borrower may obtain a release of the Lien of a Mortgage (and the related Loan Documents) encumbering an Individual Property (a "SUBSTITUTED PROPERTY") by substituting therefor another automobile dealership property acquired by Borrower (individually, a "SUBSTITUTE PROPERTY" and collectively, the "SUBSTITUTE PROPERTY"), provided that any such substitution shall be subject, in each case, to the satisfaction of the following conditions precedent:
Substitution of Property. Borrowers may from time to time provide substitute real property collateral (the “Substituted Property”) for any real property Collateral; provided that for each such substitution (a “Property Substitution”) the following conditions are satisfied with respect to such Property Substitution and the applicable Substituted Property:
Substitution of Property. In the event of unforeseen circumstances, a similar rental will be provided should the original guest rental become unavailable or uninhabitable. Guests will receive notification when possible.
Substitution of Property. 39 21.1 Substitution of Property for the Leased Property............... 39 21.2 Conditions to Substitution..................................... 42 21.3 Conveyance to Lessee........................................... 43 21.4 Expenses....................................................... 43
Substitution of Property. 27 20.1 SUBSTITUTION OF PROPERTY FOR THE LEASED PROPERTY..........................................27 20.2
Substitution of Property. (i) With the prior written consent of the Assignee, in its sole and absolute discretion, the District may substitute other land, facilities or improvements (the “Substitute Property”) for the Leased Property or any portion thereof (the “Former Property”), provided that the District has satisfied all of the following requirements, which are hereby declared to be conditions precedent to such substitution:
Substitution of Property. If the Leased Property is damaged or destroyed owing to a risk (such as earthquake) against which the District is not insured and for which rental abatement insurance is not available, the District shall substitute under the Site Lease and this Lease-Purchase Agreement one or more parcels of real property owned by the District, to the extent available, (a) that are subject only to encumbrances that do not materially impair the ability of the District to perform its obligations under the Site Lease and this Lease-Purchase Agreement and
Substitution of Property. Subject to the terms and conditions set forth in this Section 11.5, the Borrowers shall have the right to obtain a release of the lien of the applicable Deed of Trust (and the related Loan Documents) encumbering one or more Mortgaged Properties (for purposes of this section only, hereinafter referred to as, the "Substituted Property") by (i) substituting therefor one or more properties of like kind and quality (which shall include, among other things, the geographic diversity of the Substituted Property and markets and submarkets with, among other similarities, similar demographics, populations, absorption trends, accessibility and visibility) or (ii), with respect to any of the Ground Leased Properties, subjecting the fee interest, or an easement interest, in such Ground Leased Property to the lien of a security instrument in favor of Lender as security for the Loan (individually, a "Replacement Property" and collectively, the "Replacement Properties"). In addition, any such substitution (each a "Substitution") shall be subject, in each case, to the satisfaction of the following conditions precedent:
