Substitution definition

Substitution or “substitute” shall mean materials, products, equipment, assemblies, or installation methods deviating in at least one characteristic (physical, functional, or aesthetic) from those specified, but which in the opinion of the bidder would improve competition and/or enhance the finished installation. Acceptance of substitution is subject to the approval of the Designer and owner.

Split View

AI-Powered Contracts

Draft, Review & Redline at the Speed of AI

Get StartedSchedule a Demo

Substitution. The meaning specified in Section 2.14(b).

Substitution has the meaning set forth in Section 2.2(a).

Examples of Substitution in a sentence

• Upon request from the Collateral Custodian (acting solely at the direction of the Required Lenders), the applicable Borrower (or Collateral Manager, on its behalf) shall deliver an Officer’s Certificate to the Collateral Custodian, on which it may conclusively rely, to the effect that all conditions precedent to such sale, Substitution or repurchase of Loans, as the case may be, have been satisfied.

• On each Funding Date and on the date of each Reinvestment of Principal Collections pursuant to Section 2.14(a)(i) or acquisition by thea Borrower of Loans in connection with a Substitution pursuant to Section 2.14(b), the BorrowerBorrowers (or the initial Collateral Manager on its behalf) will provide the applicable Borrower’sBorrowers’ Notice and a Borrowing Base Certificate, each updated as of such date, to the Administrative Agent (with a copy to the Collateral Custodian).

• Upon delivery of such notice, the designated Party in Substitution shall acquire all the rights and become obligated to perform all the duties of Imperii pursuant to this agreement and the provisions of the attached indemnification agreement.

• Except as otherwise permitted herein and in respect of any Discretionary Sale, Substitution or sale of a Warranty Loan or a Zero Value Asset, ▇▇▇▇▇ Borrower will not sell, pledge, assign or transfer to any other Person, or grant, create, incur, assume or suffer to exist any Lien (other than Permitted Liens) on any Collateral, whether now existing or hereafter transferred hereunder to thesuch Borrower, or any interest therein.

• If requested by a Lender, the Administrative Agent shall provide such Lender with copies of any notices and other materials received by the Administrative Agent pursuant to this Section 2.14 in connection with any sale, Substitution, or repurchase of Loans.

More Definitions of Substitution

Substitution has the meaning set forth in Section 1.06.

Substitution shall have the meaning set forth in Section 3.05(a).

Substitution has the meaning specified in Section 6.2(a).

Substitution has the meaning assigned to that term in Section 2.07(a).

Substitution means a replacement for or alternative to an item of material or item identified in the Construction Documents which is proposed by the Trade Contractor and approved in writing by Authority.

Substitution means the dispensing of a drug or a brand of drug other than the drug or brand of drug ordered or prescribed.

Substitution or “substitute” shall mean materials, products, equipment, assemblies, or installation methods deviating in at least one characteristic (physical, functional, or aesthetic) from those specified, but which in the opinion of the bidder would improve competition and/or enhance the finished installation.