Substituted Lease Assets definition

Substituted Lease Assets means the assets specified as such in a Substitution Notice to the extent that on the Substitution Date they constitute Lease Assets belonging to the Issuer;
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Substituted Lease Assets means the assets specified as such in a Substitution Notice to the extent that on the Substitution Date they constitute Lease Assets belonging to the Trustee, which, for the avoidance of doubt, shall be the whole of any individual Lease Asset and not part of any individual Lease Asset;
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Examples of Substituted Lease Assets in a sentence

  • The Republic will be obliged to certify that the New Lease Assets are of a value which is equal to or greater than the value of the Substituted Lease Assets on the relevant Substitution Date.

  • The Issuer will execute the Substitution Undertaking in favour of the Republic and the Representative pursuant to which the Republic has the right to require the Issuer to sell, transfer and convey on any Substitution Date the Issuer's interest, rights, benefits and entitlements in and to the Substituted Lease Assets or any part thereof to the Republic in consideration for the transfer and conveyance by the Republic to the Issuer of the New Lease Assets (pursuant to a transfer agreement).

  • The Trustee will execute the Substitution Undertaking in favor of the Government of Malaysia pursuant to which the Government of Malaysia has the right to require the Trustee to sell, transfer and convey on any Substitution Date all of the Trustee’s interest, rights, benefits and entitlements in and to the Substituted Lease Assets in consideration for the transfer and conveyance by the Government of Malaysia to the Trustee of the New Lease Assets (pursuant to a sale agreement).

  • The Government of Malaysia will be obliged to certify that the New Lease Assets are of a value which is equal to or greater than the value of the Substituted Lease Assets on the relevant Substitution Date.In order to effect the substitution, the Trustee and the Government of Malaysia will enter into a sale agreement to effect the sale of the Substituted Lease Assets to the Government of Malaysia and the sale of the New Lease Assets to the Trustee.

Related to Substituted Lease Assets

  • Leased Land means land which is the subject of a lease granted under section 60 or 93G; S. 3 def. of "lessee" amended by No. 39/1997 s. 4(2)(b).

  • Hotel Property means a Property on which there is located an operating hotel.

  • Condominium Property means the lands, leaseholds, and personal property that are subjected to condominium ownership, whether or not contiguous, and all improvements thereon and all easements and rights appurtenant thereto intended for use in connection with the condominium.