Substitution Notice definition

Substitution Notice has the meaning specified in Section 2.17 (Substitution of Lenders).

Substitution Notice means, with respect to any transfer of Substitute Contracts to the Trust pursuant to Section 2.04 (and the applicable Financing Originator's corresponding conveyance and assignment of such Substitute Contracts), a notice, which shall be given at least five days prior to the related Substitution Transfer Date, identifying the Substitute Contracts to be transferred, the Contract Principal Balance of such Substitute Contracts and the related Substitution Event (with respect to an identified Contract or Contracts then in the Contract Pool, which will upon such substitution become a Replaced Contract) to which such Substitute Contract relates, with such notice to be signed both by the Depositor and the applicable Financing Originator[s].

Substitution Notice shall have the meaning provided in Section 2.3.5(c).

Examples of Substitution Notice in a sentence

• Upon effective delivery of a valid Substitution Notice to the Disposal Agent, the Disposal Agent shall Liquidate the Substituted Original Collateral and the Issuer shall use such net proceeds of Liquidation to purchase the Replacement Collateral Obligations.

• The net proceeds of Liquidation of the Substituted Original Collateral may not be sufficient to purchase the nominal amount of Replacement Collateral Obligations specified in the relevant Substitution Notice, and in such a case the aggregate nominal amount of Original Collateral after such substitution may be more or less than the aggregate nominal amount of Original Collateral prior to such substitution.

• No envelope shall be substituted unless the corresponding Substitution Notice contains a valid authorization to request the substitution and is read out and recorded at bid opening.

• Substitution Price Bid will remain unopened in accordance with ITB Sub-Clause 25.1. No envelope shall be substituted unless the corresponding Substitution Notice contains a valid authorization to request the substitution and is read out and recorded at bid opening.

• In the event that Party A has delivered a Substitution Notice pursuant to Condition 4(b)(i) (Substitution at direction of Counterparty) giving notice to Party B of its intention to substitute cash comprising the Charged Assets with certain Eligible Bonds (such Eligible Bonds as specified in the Substitution Notice, the "Replacement Collateral Securities"), Party A shall, on the date specified for such substitution in the Substitution Notice, transfer the Replacement Collateral Securities to Party B.

More Definitions of Substitution Notice

Substitution Notice has the meaning given to it in Section 5.01.

Substitution Notice means a notice substantially in the form of Exhibit "D" given by the Borrower to the Agent for the purposes of requesting a Substitution.

Substitution Notice as defined in Section 2.16(a).

Substitution Notice means a substitution notice in substantially the form of Schedule 1 (Form of Substitution Notice) to the Substitution Undertaking;

Substitution Notice has the meaning set forth in Section 2.5(f).

Substitution Notice means a notice substantially in the form of the specimen notice attached to this Agreement as Exhibit C.

Substitution Notice has the meaning given in Clause 12.3.7;