Substitute Assets definition

Substitute Assets has the meaning assigned thereto in Section 16(a).

Substitute Assets means the classes and types of assets from time to time eligible as substitute assets under the Guide;

Substitute Assets means the classes and types of assets from time to time eligible under the Covered Bond Legislative Framework and the CMHC Guide to collateralise covered bonds which include the following: (a) securities issued by the Government of Canada and (b) repurchase agreements of Government of Canada securities having terms acceptable to CMHC; provided that the total exposure to Substitute Assets shall not exceed 10 per cent of the aggregate value of (x) the Portfolio Assets; (y) any Substitute Assets; and (z) all cash balances held by the Guarantor (subject to the Prescribed Cash Limitation); in each case, provided that:

Examples of Substitute Assets in a sentence

• After substitution, the Substitute Assets shall be deemed to be Purchased Assets.

• In lieu of purchasing any such Asset as provided above, if so provided in the related Sales Agreement, the Seller may cause such Asset to be removed from the Trust (in which case it shall become a Replaced Asset) and substitute one or more Qualified Substitute Assets in the manner and subject to the limitations set forth in Section 2.06(g) below.

• Such substitution shall be made by transfer to Buyer of such other Substitute Assets and transfer to the related Seller of such Purchased Assets.

• For greater certainty, subject to commingling as permitted in accordance with the terms of this Agreement, the other Transaction Documents and the CMHC Guide, all cash and Substitute Assets of the Guarantor shall be held in one or more Guarantor Accounts and all Substitute Assets shall be segregated from the assets of the Account Bank.

• Monthly Payments due with respect to Qualified Substitute Assets in the month of substitution are not part of the Trust and will be retained by the Company or the Seller, as the case may be.

More Definitions of Substitute Assets

Substitute Assets means: (a) the assets permitted by the Covered Bonds Communiqué to constitute substitute assets (as of the Programme Closing Date, such assets include cash, certificates of liquidity issued by the Central Bank of Turkey, government bonds issued domestically (in Turkey) or abroad, lease certificates issued by asset leasing corporations established by the Undersecretariat of the Treasury of Turkey (T.C. Başbakanlık Hazine Müsteşarlığı), securities guaranteed by the Treasury of Turkey within the framework of the Law on the Regulation of Public Financing and Debt Management dated 28 March 2002 and numbered 4749 and securities issued by or with the guarantee of the central administrations and/or central banks of the countries which are members of the Organisation for Economic Co-operation and Development); and (b) other assets which the CMB approves and discloses to the public.Changes to the Cover Pool The Issuer shall be entitled (and, in the circumstances set out inArticle 13(5) of the Covered Bonds Communiqué, shall be obliged to substitute Cover Pool Assets as set out in (b) below), subject to making appropriate Security Update Registration(s) to:

Substitute Assets means the classes and types of assets from time to time eligible under the Covered Bond Legislative Framework and the CMHC Guide to collateralise covered bonds which include the following: (a) securities issued by the Government of Canada and

Substitute Assets shall have the meaning assigned thereto in Section 17.

Substitute Assets has the meaning set forth in the Master Repurchase Agreement.

Substitute Assets has the meaning given in Clause 8.3;

Substitute Assets means: (a) the assets permitted by the Covered Bonds Communiqué to constitute substitute assets (as of the Programme Closing Date, such assets include cash, certificates of liquidity issued by the Central Bank of Turkey, government bonds issued domestically (in Turkey) or abroad, lease certificates issued by asset leasing corporations established by the Undersecretariat of the Treasury of Turkey (T.C. Başbakanlık Hazine Müsteşarlığı), securities guaranteed by the Treasury of Turkey within the framework of the Law on the Regulation of Public Financing and Debt Management dated 28 March 2002 and No. 4749, and securities issued by or with the guarantee of the central administrations and/or central banks of the countries which are members of the Organisation for Economic Co-operation and Development); and (b) other

Substitute Assets means any assets acquired by the Borrowers and their Subsidiaries after the Effective Date, which are of equal or greater Book Value to the Closing Date Assets which are being substituted for by such Substitute Assets and designated by OSG as Substitute Assets. Substitute Assets that are not wholly-owned shall be valued by multiplying the Book Value of such assets by the percentage such assets are owned by the Borrowers on their Subsidiaries.