Switch Notice definition
Examples of Switch Notice in a sentence
With effect from the Business Day following the date a Replacement Option Switch Notice is effective (such date, the "Substitution Effective Date"), the definitions of "Initial S&P Required Rating", "Subsequent S&P Required Rating" and "Credit Support Amount" (as defined in the Credit Support Annex) shall be deemed to be amended to the equivalent definitions set out below corresponding to the relevant Replacement Option elected.
As of the day that is the first Business Day after the day this notice becomes effective pursuant to Section12 (Notices) of the Agreement, Option [1/2/3/4] shall apply until the delivery of another Replacement Option Switch Notice.
This Replacement Option Switch Notice shall form part of the Agreement as of the date it becomes effective pursuant to Section12 (Notices) of the Agreement.
No modifications of this Agreement can be made except in writing signed by an authorized representative of each of the Company and the Pale Fire Parties.
The Parent, on behalf of the relevant Borrowers, may request that part or all of an outstanding Funding Portion be repaid at the end of its current Interest Period and that a replacement Funding Portion be drawn by a Borrower in another currency (as long as it is a Borrowing Currency for that Borrower), by giving a Switch Notice to the Facility Agent in accordance with this clause.
Subject to clause 28, in respect of any Switch this Contract shall terminate in part in relation to those Premises specified in the Switch Notice on the Switch Date save in respect of clause 13 (and any related provisions or schedules) which shall survive termination until all Charges owed by the Licensee in respect of such Premises have been paid.
This S&P Classification Switch Notice shall form part of the Agreement as of such date.
Party A may, upon not less than one Business Days' notice to Party B and S&P, in substantially the form set out in the Exhibit A to this Schedule (a "Replacement Option Switch Notice"), elect that (a) Option 1, Option 2, Option 3 or Option 4 shall apply or (b) if at the time of such notice Party A has previously elected that any of Option 1, Option 2, Option 3 or Option 4 applies, (i) that another option shall apply and (ii) that any previous election shall cease to apply.
Subject to clause 17.1, if the Licensee requires ▇▇▇ ▇▇▇▇▇▇▇▇▇▇ to cease supply to any Premises supplied under this Contract it shall notify ▇▇▇ ▇▇▇▇▇▇▇▇▇▇ in writing (a Switch Notice) of: the relevant Premises; and the planned Switch Date.
With effect from the Business Day following the date the S&P Option Switch Notice is effective (such date, the “Substitution Effective Date”), the definitions of “Initial S&P Required Rating”, “Subsequent S&P Required Rating” and “Credit Support Amount” (as defined in the Credit Support Annex) shall be deemed to have been amended to the equivalent definitions as set out below corresponding to the relevant option elected.