Substitution of Sites. (a) Pursuant to Section 11.5 of the Loan Agreement, the Borrowers hereby elect a Substitution of the Substituted Sites designated on Exhibit C-1 hereto with the Replacement Sites designated thereon.
Substitution of Sites. Notwithstanding anything to the contrary herein, SBCW may at any time amend Annex A to substitute a Site which has become an Excluded Site with another Site in a similar market with a similar structural design capacity, in which case such Site shall constitute an Existing Site hereunder (each, a "Substitute Site"). The Rent and Option Purchase Price Amount for such Substitute Site shall be calculated in accordance with the methodology used to calculate the Rent and Option Purchase Price Amount with respect to the Sites listed on Annex A.
Substitution of Sites. Section 5.01 Substitution of Sites. 14 Section 5.02 Amendment of Exhibits. 15 ARTICLE VI AMENDMENT OF THE LOAN AGREEMENT Section 6.01 Indebtedness. 15 Section 6.02 Monthly Reporting. 15 Section 6.03 Definitions. 15 ARTICLE VII GENERAL PROVISIONS Section 7.01 Governing Law. 15 Section 7.02 Severability. 16 Section 7.03 Counterparts. 16 ARTICLE VIII APPLICABILITY OF LOAN AND SECURITY AGREEMENT Section 8.01 Applicability 16 SECOND LOAN AND SECURITY AGREEMENT SUPPLEMENT AND AMENDMENT This LOAN AND SECURITY AGREEMENT SUPPLEMENT AND AMENDMENT (this “Loan Agreement Supplement”) is dated as of November 6, 2006, and entered into by and among SBA PROPERTIES, INC., a Florida corporation (the “Initial Borrower”), SBA TOWERS, INC., a Florida corporation (“Towers”), SBA PUERTO RICO, INC., a Florida corporation (“PR”), SBA SITES, INC., a Florida corporation (“Sites”), SBA TOWERS USVI, INC., a U.S. Virgin Islands corporation (“USVI”), and SBA STRUCTURES, INC., a Florida corporation (“Structures”, and collectively with Towers, PR, Sites, USVI, the “Additional Borrowers”), and MIDLAND LOAN SERVICES, INC., as Servicer (the “Servicer”), on behalf of LASALLE BANK NATIONAL ASSOCIATION, as Trustee (the “Trustee”) under that certain Trust and Servicing Agreement (the “Trust Agreement”) dated as of November 18, 2005 among SBA CMBS-1 DEPOSITOR LLC (the “Depositor”), the Servicer, ABN AMRO BANK, N.V., as Fiscal Agent, and the Trustee.
Substitution of Sites. The Contractor, at its option, reserves the right to substitute sites for those of a similar quality, where the Contractor deems it necessary for operational reasons of which the Advertiser shall have no claim against the Contractor.
