Substitute Contract definition

Substitute Contract means any Contract conveyed, assigned and transferred by the Depositor or CFUSA to the Trust pursuant to Section 2.04.

Substitute Contract shall have the meaning set forth in Section 3.04(b) hereof.

Substitute Contract means a Contract that is (a) transferred to the Issuer under Section 2.04 with respect to which a related Substitution Event has occurred with respect to a Contract or Contracts then held in the Contracts Pool and identified in the related Addition Notice and (b) becomes part of the Contracts Pool.

Examples of Substitute Contract in a sentence

• In connection with the substitution of a Contract, if the Discounted Contract Balance of such Substitute Contract is less than the Discounted Contract Balance of the Predecessor Contract, the Contributor shall, on the date of substitution, deposit an amount equal to such difference into the Collection Account.

• Notwithstanding the foregoing, the Originator shall repurchase any Land-and-Home Contract, at such Contract's Repurchase Price, or substitute for it an Eligible Substitute Contract as described in Section 3.06(b), if the Seller has failed to deliver the related Land-and-Home Contract File to the Trustee within 30 days of the Closing Date.

• August 22, 2005 – Present 650,000 Ronnie Bozzer (2) (3) (4) Director British Columbia, Canada Mr. Bozzer's legal practice encompasses general commercial law, corporate finance, mergers & acquisitions, project finance and public private partnerships.

• No proceeds of the sale of any Initial Contract or Substitute Contract hereunder received by the Originator will be used by the Originator to purchase or carry any "margin stock" as such term is defined in Regulation G, T, U or X of the Board of Governors of the Federal Reserve System.

• In the event that any Opinion of Counsel referred to in the preceding sentence is not obtainable with respect to a state after reasonable effort, then the Company shall either record the assignments of mortgage for each Land-and-Home Contract located in such state or substitute an Eligible Substitute Contract (which would not be a Land-and-Home Contract in such state) for each Land-and-Home Contract in such state, in each case, within 90 days of the Closing Date.

More Definitions of Substitute Contract

Substitute Contract. A Contract substituted by the Depositor or the related Servicer for a Deleted Contract which must, on the date of such substitution, (i) have an outstanding Principal Balance, after deduction of the principal portion of the monthly payment due in the month of substitution (or in the case of a substitution of more than one Contract for a Deleted Contract, an aggregate Principal Balance), not in excess of the Principal Balance of the Deleted Contract [and not less than __% of Principal Balance of the Deleted Contract] (the amount of any shortage will be deposited by the Depositor or the Servicer in the Certificate Account and distributed by the Master Servicer to Certificateholders in the month of substitution); (ii) have an APR not less than the APR of the Deleted Contract but not greater than __% in excess of the APR of the Deleted Contract; (iii) have a remaining term to maturity not greater than ___ years and not more than ___ years less than the remaining term of the Deleted Contract; and (iv) comply with each representation and warranty set forth in Section 2.04 or in the related Warranty Servicing Agreement.

Substitute Contract. On any day, an Eligible Contract which meets each of the conditions for substitution set forth in Schedule IV hereto.

Substitute Contract means an Eligible Contract substituted by the Contributor pursuant to either Section 5.03 or Section 7.01 of the Amended and Restated Contribution and Servicing Agreement.

Substitute Contract. The meaning specified in the Contract Acquisition Agreement.

Substitute Contract has the meaning specified in Section 4.02(a) of the Indenture.

Substitute Contract means an Eligible Contract that is added to the pool of Eligible Contracts by the Borrower as a substitute for a Replaceable Contract, in accordance with Sections 11.01(b) and (c) of this Loan Agreement.

Substitute Contract. A Contract substituted by the Servicer in replacement of one or more Contracts of the Issuer pursuant to the terms and provisions of the Transaction Documents.