Common use of Completion of Substitution Clause in Contracts

Completion of Substitution. On completion of the formalities set out in Condition 14.3 and this Clause 15.3, the Substituted Obligor shall be deemed to be named in the Conditions, the relevant Trust Deed, the other Programme Documents and the ETP Securities as the principal debtor in place of the Issuer (or of any previous substitute) and the Conditions, the relevant Trust Deed, the other Programme Documents and the ETP Securities shall be deemed to be amended as necessary to give effect to the substitution.