SUBSTITUTIONS AND CREDITS Sample Clauses

SUBSTITUTIONS AND CREDITS. With Landlord's prior written consent, Tenant may substitute items or materials for Building Standard items or materials; however, no credit shall be due Tenant for any cost savings resulting from such substitution.
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SUBSTITUTIONS AND CREDITS. Tenant may select different materials (except exterior window blinds) in place of Building Standard materials which would otherwise be initially furnished and installed by Landlord in the Interior of the Leased Premises under the provisions of this Exhibit B, provided such selection is indicated on Tenant's space plans and specification as approved by Landlord. If Tenant selects interior finish items, such as wall paint, and/or wall coverings, fixtures and carpeting different from Landlord's Building Standard Work, Tenant shall notify Landlord of all such selections in writing with the submission of plans provided by Tenant or on the Space Plan Approval Date. All interior decorating items and services selected by Tenant in excess of Building Standard Work shall be provided by Tenant at Tenant's sole cost and expense after approval by Landlord. If Tenant shall make any such selection, Tenant shall pay to Landlord, as hereinafter provided, the difference between the cost of such different materials and the credit given by Landlord for the materials thereby replaced plus a fee of ten percent (10%) of the difference, if any, for Landlord's additional costs resulting from such substitution.
Sample 1
SUBSTITUTIONS AND CREDITS. Tenant may select other available materials in place of Building Standard materials (which are defined as those materials designated by Landlord, at its option, for general use in the Building) provided that such selection is approved in writing by Landlord and that such other materials constitute a "substitution in kind" as hereinafter described. Landlord shall have no duty to approve any proposed substitution. Tenant agrees to pay to Landlord within ten (10) days after receipt of bills therefor (which bills may be rendered by Landlord from time to time during the course of the Work or any time) an amount equal to the excess of the Landlord's cost for acquiring and installing such substituted materials over the cost which Landlord would have incurred in acquiring and installing the Building Standard materials that were replaced thereby. Credit shall be granted only to the extent of substitutions in kind. For example, a lighting fixture credit may be applied only against the cost of another lighting fixture and an electrical outlet credit may not be applied against the cost of bank screen partitions.
Sample 1
SUBSTITUTIONS AND CREDITS. (a) Except for light fixtures, doors and door frames, hardware, and ceilings, Tenant may select different materials (hereinafter "substituted materials") in place of Building Standard materials which would otherwise be initially furnished and installed by Landlord in the interior of the Premises under the provisions of this Work Letter, provided such selection is indicated on Tenant's plans and specifications as approved by Landlord. If Tenant shall make any such selection Tenant shall pay to Landlord, as hereinafter provided, Landlord's additional costs resulting from such substitution. (b) No credit shall be given for the omission of materials where no replacement in kind is made. There shall be credits only for substitutions in kind, e.g., a credit for carpet may be applied only against the cost of another type of carpet.
Sample 1
SUBSTITUTIONS AND CREDITS. Tenant may select different new materials (except exterior window draperies) in place of Building Standard materials which would otherwise be initially furnished and installed by Landlord in the interior of the Leased Premises under the provisions of this Exhibit C provided such selection is indicated on the Plans and Specifications or Exhibit C-1 attached. If Tenant shall make any such selection and if the cost of such different new materials of Tenant's selection shall exceed Landlord's cost of Building Standard Work materials thereby replaced, Tenant shall pay to Landlord, as provided herein, the difference between the cost of such different new materials and the credit given by Landlord for the materials thereby replaced. No such different new materials shall be furnished and installed in replacement for any Building Standard materials until Landlord has submitted an estimate to Tenant in writing of the increased cost thereof and Landlord and Tenant have agreed in writing on the increased cost of such different new materials and installation in excess of the cost of Building Standard Work. If Tenant approves such estimate, it shall notify Landlord in writing within seven (7) calendar days and Landlord's contractor shall proceed with such work. If Tenant shall fail to approve such estimate within seven (7) calendar days after the submission thereof, such failure is to be deemed a disapproval thereof, and Landlord's contractor shall proceed with the Building Standard Work in lieu of the proposed substituted work. All amounts payable by Tenant to Landlord pursuant to this paragraph 4 shall be paid by Tenant pursuant to the terms of paragraph 3 hereof. Any such different new materials which become a permanent part of the Leased Premises shall be surrendered by Tenant to Landlord at the end of the Lease Term or any Renewal Term of the Lease. For any materials deleted by Tenant from the Plans and Specifications, credit shall be granted at the time the deleted Building Standard Work would have been completed for other Building Standard Work or Building NonStandard Work specified by Tenant.
Sample 1
SUBSTITUTIONS AND CREDITS. 1. Tenant may request that Landlord substitute alternate materials, equipment and fixtures for those specified in Part B provided that such substitute items are new and are of a quality at least comparable to those replaced. In addition, Tenant may request that Landlord omit the installation of any item or items not therefore installed, in which event Landlord shall thereupon be released from any obligation to install the same at any time thereafter. 2. If, upon Tenant's request, Landlord shall utilize materials, or install equipment or fixtures, other than those described in Part B, Tenant shall pay to Landlord on demand as additional rent under the Lease, an amount equal to the sum of (a) Landlord's Cost (as hereinafter defined) for the substitute item, plus (b) an amount equal to ten (10%) percent of Landlord's Cost, for the Landlord's overhead for administration and handling of the substitution. Notwithstanding such payment by Tenant, the substitute item shall be and remain the property of Landlord and shall not be removed by Tenant either before or after the Expiration Date. 3. For purposes of this Work Letter, "Landlord's Cost" shall mean amounts charged by Landlord's contractors, subcontractors and materialmen for furnishing and installing any item or performing any work, including, without limitation, labor costs and costs for general conditions in connection therewith (which general conditions shall include, without limitation, rubbish removal, hoisting and other items generally included within the term "general conditions" in the Metropolitan New York Area).
Sample 1
SUBSTITUTIONS AND CREDITS. Tenant may specify a substitution of any item of Initial Alterations, excepting those items for which substitution is specifically prohibited, provided: (a) such substitution shall be of like nature and of equal or greater cost and quality than that for which such substitution was made; and (b) that Landlord shall install such substitution; and (c) that Tenant shall pay the cost of such substitution (including reasonable percentages charged by the contractor for overhead and profit) but Tenant shall be entitled to a credit for that for which such substitution was made based on Landlord's cost thereof.
Sample 1
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Related to SUBSTITUTIONS AND CREDITS

  • Limitation on Investments, Loans and Advances Make any advance, loan, extension of credit or capital contribution to, or purchase any stock, bonds, notes, debentures or other securities of or any assets constituting a business unit of, or make any other investment in (such advances, loans, extensions of credit, capital contributions, purchases and investments being herein called "Investments"), any Person, except: (a) extensions of trade credit in the ordinary course of business; (b) Investments in Cash Equivalents; (c) any Investment by the Borrower or any Restricted Subsidiary (other than any Special Purpose Subsidiary) in Persons engaged in the telecommunications business or businesses related thereto, provided that (i) such Person, if it shall be a Subsidiary, shall become a Restricted Subsidiary unless (A) such Person or assets shall be acquired with (I) proceeds of capital contributed to the Borrower expressly for such purpose and/or (II) funds of the Borrower in such amount that, after giving effect thereto, the Special Payment Condition shall be satisfied, provided that the Borrower shall have made a Pro Rata Payment Offer in an amount equal to such Investment and (B) the Borrower designates such Person, by notice to the Administrative Agent, as an Unrestricted Subsidiary and (ii) immediately prior and after giving effect to such Investment, the Borrower is in Pro Forma Compliance; (d) any Investment by the Borrower or any Restricted Subsidiary (other than any Special Purpose Subsidiary) in Persons not engaged in the telecommunications business or businesses related thereto if, after giving effect thereto, the aggregate amount of such Investments then held by the Borrower and its Restricted Subsidiaries does not exceed (x) at any time prior to the date on which the Special Payment Condition shall have occurred, $50,000,000, or (y) thereafter, 5% of then Total Capitalization; provided that (i) such Person, or the Person which shall become the owner of any assets acquired in connection with such Investment, shall become a Restricted Subsidiary unless (A) such Person or assets shall be acquired with (I) proceeds of capital contributed to the Borrower expressly for such purpose and/or (II) funds of the Borrower in such amount that after giving effect thereto, the Special Payment Condition shall be satisfied, provided that the Borrower shall have made a Pro Rata Payment Offer in an amount equal to such Investment and (B) the Borrower designates such Person, by notice to the Administrative Agent, an Unrestricted Subsidiary and (ii) immediately prior and after giving effect to such Investment, the Borrower is in Pro Forma Compliance; (e) any Investment arising from the acquisition by the Borrower and its Restricted Subsidiaries of any System or Systems in connection with any Asset Swap, provided that (i) to the extent that the Borrower and its Restricted Subsidiaries give consideration for the System or Systems acquired by them in connection with such Asset Swap that is in addition to the System or Systems transferred by them in exchange therefor, such Asset Swap shall be deemed to constitute an Investment and shall be permitted only if the provisions of subsection 6.6(e) and 6.8(c) shall be complied with in connection therewith and (ii) immediately prior and after giving effect to such Investment the Borrower is in Pro Forma Compliance; (f) loans and advances to employees of the Borrower and its Restricted Subsidiaries in an aggregate principal amount outstanding not to exceed $10,000,000 at any one time outstanding; (g) Investments by the Borrower in its Restricted Subsidiaries and Investments by any Restricted Subsidiary (other than any Special Purpose Subsidiary) in the Borrower or by any Restricted Subsidiary (other than any Special Purpose Subsidiary) in any other Restricted Subsidiary; and (h) promissory notes and other deferred payment obligations that constitute proceeds of Asset Sales that are permitted by subsection 6.6.

  • Additional Conditions to Letters of Credit If the issuance of a Letter of Credit is requested, all conditions set forth in Section 2.3 shall have been satisfied.

  • Specific Amendments to Credit Agreement Upon the effectiveness of this Amendment, the parties hereto agree that the Credit Agreement shall be amended as follows: (a) The Credit Agreement is amended by adding the following definitions to Section 1.01 thereof in the appropriate alphabetical location:

  • Limitation on Investments The Borrower will not, and will not permit any of the Restricted Subsidiaries to make any Investment except: (a) extensions of trade credit and asset purchases in the ordinary course of business; (b) Investments that were Permitted Investments when such Investments were made; (c) loans and advances to officers, directors and employees of the Borrower (or any direct or indirect parent thereof) or any of its Subsidiaries (i) for reasonable and customary business-related travel, entertainment, relocation and analogous ordinary business purposes (including employee payroll advances), (ii) in connection with such Person’s purchase of Stock or Stock Equivalents of the Borrower (or any direct or indirect parent thereof); provided that, to the extent such loans and advances are made in cash, the amount of such loans and advances used to acquire such Stock or Stock Equivalents shall be contributed to the Borrower in cash and (iii) for purposes not described in the foregoing subclauses (i) and (ii); provided that the aggregate principal amount outstanding pursuant to this subclause (iii) shall not exceed $10,000,000; (d) Investments existing on, or made pursuant to legally binding written commitments in existence on, the 2014 July Repricing Effective Date and any extensions, renewals or reinvestments thereof, so long as the amount of any Investment made pursuant to this clause (d) is not increased at any time above the amount of such Investment existing on, or made pursuant to legally binding written commitments in existence on, the 2014 July Repricing Effective Date; (e) Investments received in connection with the bankruptcy or reorganization of suppliers or customers and in settlement of delinquent obligations of, and other disputes with, customers arising in the ordinary course of business or upon foreclosure with respect to any secured Investment or other transfer of title with respect to any secured Investment; (f) Investments to the extent that payment for such Investments is made with Stock or Stock Equivalents of Holdings; (g) Investments (i) (a) by the Borrower or any Restricted Subsidiary in any Credit Party, (b) between or among Restricted Subsidiaries that are not Credit Parties, and (c) consisting of intercompany Investments incurred in the ordinary course of business in connection with the cash management operations (including with respect to intercompany self-insurance arrangements) among the Borrower and the Restricted Subsidiaries (provided that any such intercompany Investment in connection with cash management arrangements by a Credit Party in a Subsidiary that is not a Credit Party is in the form of an intercompany loan or advance and the Borrower or such Restricted Subsidiary complies with Section 9.12 to the extent applicable), (ii) by Credit Parties in any Restricted Subsidiary that is not a Credit Party, to the extent that the aggregate amount of all Investments made on or after the 2014 July Repricing Effective Date pursuant to this subclause (ii), when valued at the fair market value (determined by the Borrower acting in good faith) of each such Investment at the time each such Investment was made, would not exceed the sum of (x) $1,000,000,000, when taken together with Investments outstanding at such time in reliance on Section 10.5(i)(x) plus (y) if the Borrower shall be in compliance with the Senior Secured Leverage Test, both before and after giving effect, on a Pro Forma Basis to the making of such Investment, the Applicable Amount at such time plus (z) the Applicable Equity Amount at such time and (iii) by Credit Parties in any Restricted Subsidiary that is not a Credit Party so long as such Investment is part of a series of simultaneous Investments by Restricted Subsidiaries in other Restricted Subsidiaries that result in the proceeds of the initial Investment being invested in one or more Credit Parties; (h) Investments constituting Permitted Acquisitions; (i) Investments (including but not limited to (i) minority Investments and Investments in Unrestricted Subsidiaries, (ii) Investments in joint ventures (regardless of the form of legal entity) or similar Persons that do not constitute Restricted Subsidiaries, (iii) Investments in Merchant Acquisition and Processing Alliances (regardless of the form of legal entity) and (iv) Investments in Subsidiaries that are not Credit Parties), in each case valued at the fair market value (determined by the Borrower acting in good faith) of such Investment at the time each such Investment is made, in an aggregate amount pursuant to this clause (i) that, at the time each such Investment is made, would not exceed the sum of (x) $1,000,000,000 when taken together with Investments outstanding at such time in reliance on Section 10.5(g)(ii)(x) plus (y) if the Borrower shall be in compliance with the Senior Secured Leverage Test, both before and after giving effect, on a Pro Forma Basis to the making of such Investment, the Applicable Amount at such time plus (z) without duplication of any amount that increased the JV Distribution Amount, an amount equal to any repayments, interest, returns, profits, distributions, income and similar amounts actually received in cash in respect of any such Investment (which amount referred to in this subclause (z) shall not exceed the amount of such Investment valued at the fair market value of such Investment at the time such Investment was made) plus (aa) the Applicable Equity Amount at such time; (j) Investments constituting non-cash proceeds of Dispositions of assets to the extent permitted by Section 10.4; (k) Investments made to repurchase or retire Stock or Stock Equivalents of the Borrower or any direct or indirect parent thereof owned by any employee or any stock ownership plan or key employee stock ownership plan of the Borrower (or any direct or indirect parent thereof); (l) Investments consisting of dividends permitted under Section 10.6; (m) loans and advances to any direct or indirect parent of the Borrower in lieu of, and not in excess of the amount of, dividends to the extent permitted to be made to such parent in accordance with Section 10.6; (n) Investments consisting of extensions of credit in the nature of accounts receivable or notes receivable arising from the grant of trade credit in the ordinary course of business, and Investments received in satisfaction or partial satisfaction thereof from financially troubled account debtors and other credits to suppliers in the ordinary course of business; (o) Investments in the ordinary course of business consisting of endorsements for collection or deposit and customary trade arrangements with customers consistent with past practices; (p) advances of payroll payments to employees in the ordinary course of business; (q) Guarantee Obligations of the Borrower or any Restricted Subsidiary of leases (other than Capital Leases) or of other obligations that do not constitute Indebtedness, in each case entered into in the ordinary course of business; (r) Investments held by a Person acquired (including by way of merger or consolidation) after the Original Closing Date otherwise in accordance with this Section 10.5 to the extent that such Investments were not made in contemplation of or in connection with such acquisition, merger or consolidation and were in existence on the date of such acquisition, merger or consolidation; (s) Investments in Hedge Agreements permitted by Section 10.1; (t) Investments arising out of or in connection with any Permitted Receivables Financing; (u) Investments in the ordinary course of business in connection with Settlements; (v) other Investments, that, at the time each such Investment is made, would not exceed the sum of (x) $750,000,000 plus (y) if the Borrower shall be in compliance with the Senior Secured Leverage Test, both before and after giving effect, on a Pro Forma Basis, to the making of such Investment, the Applicable Amount plus (z) the Applicable Equity Amount at such time; (w) Investments in connection with any transaction permitted by Section 10.3; and (x) Investments consisting of licensing of intellectual property with other Persons in the ordinary course of business; (y) Investments constituting contributions or other dispositions of any Foreign Subsidiary to another Foreign Subsidiary; and (z) Investments by any Credit Party in any Restricted Subsidiary that is not a Credit Party in an aggregate amount not to exceed the fair market value of all dividends and other distributions received by Credit Parties from Restricted Subsidiaries that are not Credit Parties since the Initial Effectiveness Date.

  • Limitations on Interest Periods Notwithstanding any other provision of this Agreement, the Borrower shall not be entitled to request (or to elect to convert to or continue as a Eurocurrency Borrowing) any Borrowing if the Interest Period requested therefor would end after the Maturity Date.

  • Substitution of Lenders In the event (a) the Borrower receives a claim from any Lender for compensation under Section 10.3 or 12.1 hereof, (b) the Borrower receives notice from any Lender of any illegality pursuant to Section 10.1 hereof, (c) any Lender is then a Defaulting Lender or such Lender is a Subsidiary or Affiliate of a Person who has been deemed insolvent or becomes the subject of a bankruptcy or insolvency proceeding or a receiver or conservator has been appointed for any such Person, or (d) a Lender fails to consent to an amendment or waiver requested to be consented to by all Lenders or all affected Lenders under Section 12.11 hereof at a time when the Required Lenders have approved such amendment or waiver (any such Lender referred to in clause (a), (b), (c), or (d) above being hereinafter referred to as an “Affected Lender”), the Borrower may, in addition to any other rights the Borrower may have hereunder or under applicable law, require, at its expense, any such Affected Lender to assign, at par, without recourse, all of its interest, rights, and obligations hereunder (including all of its Commitments and the Loans and participation interests in Letters of Credit and other amounts at any time owing to it hereunder and the other Loan Documents) to an Eligible Assignee specified by the Borrower, provided that (i) such assignment shall not conflict with or violate any law, rule or regulation or order of any court or other governmental authority, (ii) the Borrower shall have paid to the Affected Lender all monies (together with amounts due such Affected Lender under Section 1.11 hereof as if the Loans owing to it were prepaid rather than assigned) other than such principal owing to it hereunder, (iii) the assignment is entered into in accordance with, and subject to the consents required by, Section 12.10 hereof (provided any assignment fees and reimbursable expenses due thereunder shall be paid by the Borrower) and (iv) the assignee shall have consented to the proposed amendment or waivers not consented to by the Affected Lender.

  • Limitations on Investments Make or permit to exist, or permit any Restricted Subsidiary to make or permit to exist, any Investment, other than Investments which are: (a) cash and Cash Equivalents; (b) current assets generated in the ordinary course of business; (c) accounts receivable created, acquired or made in the ordinary course of business and payable or dischargeable in accordance with customary trade terms; (d) Investments consisting of capital stock, obligations, securities or other property received in settlement of accounts receivable (created in the ordinary course of business) from bankrupt obligors; (e) advances to employees for moving and travel expenses, drawing accounts and similar expenditures in the ordinary course of business; (f) advances or loans to directors, officers and employees that do not exceed $25,000,000 in the aggregate at any one time outstanding; (g) advances or loans to customers and suppliers in the ordinary course of business in an aggregate amount consistent with the past practice of the Person making such advance or loan; (h) loans to shareholders intended to constitute dividends on, or payment on account of, any capital stock; (i) Investments or Support Obligations by the Borrower and its Restricted Subsidiaries existing on the Effective Date; (j) Investments by the Borrower or its Restricted Subsidiaries in the Borrower or any other Subsidiary (provided that such Investment would not otherwise constitute a breach of Section 8.08); (k) Support Obligations of the Borrower or its Restricted Subsidiaries for the benefit of the Borrower or any other Subsidiary; (l) acquisitions permitted by Section 8.08 and Investments consisting of capital stock, obligations, securities or other property received in connection with any merger, sale or other combination permitted by Section 8.03; (m) Investments in connection with the management of Pension Plans and other benefit plans of the Borrower and its Subsidiaries (including without limitation The Pittston Company Employee Welfare Benefit Trust); (n) Hedging Agreements permitted by Section 8.06; (o) advances or loans to any Person with respect to the deferred purchase price of property, services or other assets in dispositions permitted by Section 8.03; and (p) Investments of a nature not contemplated in the foregoing subsections in an amount not to exceed 15% of Consolidated Net Worth.

  • Substitution of Collateral A Fund may substitute securities for any securities identified as Collateral by delivery to the Custodian of a Pledge Certificate executed by such Fund on behalf of the applicable Portfolio, indicating the securities pledged as Collateral.

  • Substitutions Whenever a Holder has the right to substitute Treasury Securities, Debentures or the Applicable Ownership Interest in the Treasury Portfolio, as the case may be, for Collateral held by the Collateral Agent, such substitution shall not constitute a novation of the security interest created hereby.

  • Amendments to Credit Agreement (a) Section 1.01 of the Credit Agreement is hereby amended by adding the following definitions in the appropriate alphabetical order:

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