Substitution Conditions definition

Substitution Conditions has the meaning ascribed to it in SECTION 11 hereof.

Substitution Conditions shall have the meaning set forth in Schedule III of this Agreement.

Substitution Conditions means that the Release Amount of each Individual Property which is the subject of a substitution, when aggregated with the Release Amounts of all other Individual Properties which were previously, or are simultaneously therewith, the subject of a substitution, does not exceed one-third (33.333%) of the original principal balance of the Loan.

Examples of Substitution Conditions in a sentence

• Substitution Conditions: Substitution requests will be returned without action unless one of the following conditions is satisfied.

• Substitution Conditions has the meaning given in clause 18 of this deed.

• For the avoidance of doubt, if any Substitution does not comply with the Substitution Conditions, Buyer may effect a Replenishment in respect of the relevant Substitute Credit Agreement provided that all of the conditions set out in sub-sections (a)–(e) above are satisfied.

• If the conditions set out in sub-sections (a)–(e) above are not satisfied in respect of any Replenishment, save for the exemption from (b) in respect of Substitutions that comply with the Substitution Conditions, such Replenishment shall be deemed not to have occurred.

• Substitution Conditions has the meaning given in Condition 11.2. Successor has the meaning given in Condition 11.Successor Subordinated Deed Poll means a deed poll entered into by a Successor for the benefit of Subordinated Holders.

More Definitions of Substitution Conditions

Substitution Conditions has the meaning set forth in Section 3.6.1

Substitution Conditions means the conditions set out in paragraph 1 of Schedule 4 hereto;

Substitution Conditions means that all Properties released ----------------------- during the term of the Loan do not represent in the aggregate more than twenty- five (25%) percent of (i) the aggregate Net Operating Income of all of the Properties for the twelve (12) month period immediately preceding the Outside Closing Date or for the twelve (12) month period immediately preceding the date of substitution and (ii) the value of the Properties as of the Closing Date as set forth on Schedule VIII hereto. -------------

Substitution Conditions means that (x) Tenant is not in default hereunder, and (y) Tenant has not subleased in excess of fifty percent (50%) of the Premises (other than pursuant to a Permitted Transfer or to Approved Users). The foregoing limitations on Landlord's leasing activity shall not apply to (A) any Competitor occupying its premises directly or (as an assignee, sublessee, licensee or concessionaire) indirectly under a lease that was executed prior to the later to occur of (i) the execution of this Lease or (ii) the designation of such entity as a Competitor (a "Prior Lease") or to a renewal or extension of a Prior Lease, or (B) to the subleasing by, or assignment of any lease by, any occupant of the Buildings. Landlord also has the right to make such other changes to the Property and Building as Landlord deems appropriate, provided the changes do not materially affect Tenant's ability to use the Premises for the Permitted Use. Landlord shall also have the right (but not the obligation) to temporarily close the Building if Landlord reasonably determines that there is an imminent danger of significant damage to the Building or of personal injury to Landlord's employees or the occupants of the Building. The circumstances under which Landlord may temporarily close the Building shall include, without limitation, electrical interruptions, hurricanes and civil disturbances. A closure of the Building under such circumstances shall not constitute a constructive eviction nor entitle Tenant to an abatement or reduction of Rent.

Substitution Conditions means that the Release Amounts of all Property released during the term of the Loan do not represent in the aggregate more than one third (1/3) of the original aggregate of the Release Amounts for all of the Properties.

Substitution Conditions. The meaning specified in Section 12.5(a).

Substitution Conditions means, in connection with the replacement of a Collateral Store with a Substitute Store, that: