Substituted Rights definition

Substituted Rights means rights, remedies and powers identical to the rights, remedies and powers under the Transaction Documents of the Existing Bank in relation to the Substituted Commitments and the Substituted Portion.
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Substituted Rights means Powers identical to the Powers of the Existing Financier under the Finance Documents in relation to the Substituted Commitments and the Substituted Portion.
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Examples of Substituted Rights in a sentence

  • The Existing Bank shall no longer be entitled to the Substituted Rights or the Substituted Portion and the New Bank shall become entitled to the Substituted Rights and the Substituted Portion, with effect on and from the Substitution Date.

  • The Existing Financier will no longer be entitled to the Substituted Rights or the Substituted Portion and the New Financier will become entitled to the Substituted Rights and the Substituted Portion 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.

  • If the Secretary of State considers that it is expedient to facilitate the public sector's administration and performance of this Agreement, the Secretary of State may notify the Operator that such of the Secretary of State's rights and obligations under this Agreement as are specified in the notice (the "Substituted Rights and Obligations") are to be assumed by another Government Entity (the "Successor Government Entity").

  • The Existing Financier(s) shall no longer be entitled to the Substituted Rights, and the New Financier shall become entitled to the Substituted Rights, with effect on and from the Substitution Date.