Examples of Substitute Institution in a sentence
Upon the effectiveness of such sale, purchase and assumption, the Substitute Institution shall become a “Lender” hereunder for all purposes of this Agreement.
If the name of the pension plan or vested benefits of the ex-spouse creditor has not been communication to the Foundation, the latter pays the amount to the Substitute Institution, at the earliest in six months and at the latest two years, after the date set for the transfer.
The applicable Lender shall sell (in consideration for the payment to it of all amounts owed to it pursuant to the terms of this Agreement), and the Substitute Institution shall purchase, all rights and claims of such Lender under the Related Documents in accordance with Section 14.02(b).
Upon the effectiveness of such sale, purchase and assumption, the Substitute Institution shall become a “Lender” hereunder for all purposes of this Agreement having a Commitment in the amount of such assigning Lender’s Commitment assumed by it and such Commitment of such assigning Lender shall be terminated.
We are a nut-free school Several of our pupils suffer from a serious allergic reaction when they come into contact with nuts or products containing nuts.