Substitute Index definition

Substitute Index means any index comparable to the GDP Deflator selected by Landlord and reasonably satisfactory to Tenant then prepared and published by an agency of the Government of the United States, appropriately adjusted for changes in the manner in which such index is prepared and/or year upon which such index is based.

Substitute Index means a successor index identified by the Calculation Agent using commercially reasonable efforts, with characteristics, objectives and rules similar to the Index in effect immediate prior to the occurrence of the Index Cancellation.

Substitute Index means an index which is calculated in accordance with the following provisions:

Examples of Substitute Index in a sentence

• The Substitute Index shall reflect as closely as possible the actual variance of the Labor Costs or of the material costs used in the calculation of the original Labor Index or Material Index as the case may be.

• For the purposes of all calculations under this Agreement the level of the Converted Substitute Index on any day is that determined by multiplying the Index Level of the Substitute Index on that day by the Substitute Index Conversion Factor.

• We illustrate the type of exception we are dealing with by the case of Yoruba.

• As a result of the selection of the Substitute Index, the Seller shall make an appropriate adjustment to the Seller Price Revision Formula to combine the successive utilization of the original Labor Index or Material Index (as the case may be) and of the Substitute Index.

• The Substitute Index Conversion Factor is the number which, when multiplied by the level of the Substitute Index on the day on which the Substituted Index is substituted under clause 6, results in a number which is equal to the level of the Index (or which would have been the level of the Relevant Index had it continued to exist) immediately before the substitution occurred.

More Definitions of Substitute Index

Substitute Index means a floating rate index (a) that is commonly accepted by market participants in commercial mortgage backed securities transactions as an alternative to LIBOR, as determined by Lender in good faith, and (b) that is publicly recognized by the International Swaps and Derivatives Association (ISDA) as an alternative to LIBOR.

Substitute Index if applicable, shall have the meaning specified in Section 13.

Substitute Index means any substitute index approved by the Security Calculation Agent as a Substitute Index pursuant to Section 3 hereof. (Face of Security continued on next page)

Substitute Index means any substitute index approved by the Security Calculation Agent, following an Index Replacement Event pursuant to Section 3 hereof

Substitute Index means the most recently effective substitute SIFMA Index, if any, designated in writing by the Borrower, for tax-exempt bonds meeting the then-current SIFMA criteria. The Calculation Agent shall be entitled to conclusively rely upon the determination of a Substitute Index by the Borrower and shall have no obligation to select a Substitute Index, nor shall the Calculation Agent be responsible for monitoring the selection of Substitute Index by the Borrower.

Substitute Index shall have the meaning specified in the Fee Letter.

Substitute Index means, in the event that the circumstances described in (i)(A) above have occurred, a New Japan Index or, in the event that the circumstances described in clause (i)(B) above have occurred, the Nikkei 300 Index.