Examples of Substituted Property in a sentence
Such release shall be in a form appropriate for the jurisdiction in which the Substituted Property is located.
The Company shall not effect any such consolidation, merger, or sale, unless prior to the consummation thereof the successor corporation (if other than the Company) resulting from such consolidation or merger or the corporation purchasing such assets shall assume the obligation to deliver to the holder such Substituted Property as, in accordance with the foregoing provisions, the holder may be entitled to purchase.
Such release shall be in a form appropriate for the jurisdiction in which the Substituted Property is located and satisfactory to Lender in its sole discretion.
Upon the closing of the substitution of any Property, all references herein to the term “Borrowers” or the term “Borrower” shall be deemed to include the Qualified Substitute Borrower and to exclude the Borrower owning the Substituted Property except to the extent of any obligation of such Borrower to indemnify and hold harmless Lender pursuant to the provisions of this Agreement that are expressly stated to survive a release of any Property or repayment of the Debt.
Upon the closing of the substitution of any Property, all references herein to the term “Properties” or the term “Property” shall be deemed to exclude the Substituted Property and to include the Qualified Substitute Property, and the Substitute Allocated Loan Amount with respect to such Qualified Substitute Property shall be deemed to be the Allocated Loan Amount with respect to such Qualified Substitute Property for all purposes hereunder.