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.

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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.

• The Class Coupon Floor Agreements will require the Trust to make payments to the Coupon Floor Purchaser on an Interest Payment Date if LIBOR, the Commercial Paper Rate or a Substitute Index, as applicable, for the related Calculation Period is less than the Class Coupon Floor for the applicable Class or Subclass.

• 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 will 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.

• As a result of the selection of the Substitute Index, the Seller shall make an appropriate adjustment to the Airframe 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.

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 means either (i) a floating rate index (a) that is commonly accepted by market participants in securitized and capital markets real estate finance transactions as an alternative to the then-current Floating Rate and (b) that is publicly recognized by the International Swaps and Derivatives Association as an alternative to the then-current Floating Rate; or (ii) if the Administrative Agent determines in good faith that a floating rate index described in clause (i) of this definition cannot be determined, then, for so long as such a floating rate index cannot be determined, the Prime Rate.

Substitute Index means any substitute index approved by the Security Calculation Agent as a Substitute Index pursuant to Section 3 hereof.

Substitute Index means in relation to an Index Warrant, an Index replacing the Index over which Index Warrants have been issued in terms of this Programme Memorandum, as set out in Condition 14 (Substitute Index and Adjustment);

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

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