Substituted Obligations definition

Substituted Obligations means obligations identical to the obligations of the Existing Financier under the Finance Documents in relation to the Substituted Commitments and the Substituted Portion.
View Source

Examples of Substituted Obligations in a sentence

  • The New Bank undertakes to the Existing Bank and the Agent that it shall assume the Substituted Obligations on and from the Substitution Date.

  • The Existing Bank is released from the Substituted Obligations with effect on and from the Substitution Date.

  • On and from the Substitution Date the Facility Agent will make all payments received by it in respect of the Substituted Commitments, Substituted Obligations, Substituted Rights and Substituted Portion to the New Bank.

  • On and from the Substitution Date the Agent will make all payments received by it in respect of the Substituted Commitments, Substituted Obligations, Substituted Rights and Substituted Portion to the New Bank.

  • On and from the Substitution Date the Facility Agent will make all payments received by it in respect of the Substituted Commitments, Substituted Obligations and Substituted Rights to the New Financier.

  • The Existing Financier(s) is/are released from the Substituted Obligations with effect on and from the Substitution Date.

  • Release from Future Obligations The Existing Bank is released from the Substituted Obligations with effect on and from the Substitution Date.

  • The New Financier shall assume the Substituted Obligations on and from the Substitution Date.