Replacement Policy. If a Credit Enhancer Default occurs or if the claims-paying ability rating of the Credit Enhancer is downgraded, the Depositor may substitute new surety bonds for the existing Policy so long as (i) the new rating of the Notes would be an improvement over their then current rating, (ii) the new surety bond will qualify as a "similar commercially available credit enhancement contract" within the meaning of Treas. Reg. ss. 1.1001-3(e)(4)(iv)(B), and (iii) the Rating Agency Condition is satisfied. No new credit enhancement may be substituted, however, unless the Indenture Trustee receives a legal opinion, acceptable in form and substance to the Indenture Trustee, from counsel to the provider of the new credit enhancement with respect to its enforceability and any other matters the Indenture Trustee reasonably requires. Within five Business Days after the Indenture Trustee takes physical possession of the new credit enhancement and the opinion of counsel, it will deliver the replaced Policy to the Credit Enhancer. Any other form of credit enhancement may also be substituted for the Policy after a Credit Enhancer Default or downgrade if the new rating of the Notes would be an improvement over their then current rating and the Indenture Trustee receives an Opinion of Counsel to the effect that the substitution will not be treated as a significant modification within the meaning of Treas. Reg. ss. 1.1001-3.
Replacement Policy. If a Credit Enhancer Default occurs, the Depositor may substitute new surety bonds for the existing Policy so long as (i) the new rating of the Notes would be an improvement over their then current rating, (ii) the new surety bond will qualify as a "similar commercially available credit enhancement contract" within the meaning of Treas. Reg. ss. 1.1001-3(e)(4)(iv)(B), and (iii) the Rating Agency Condition is satisfied. No new credit enhancement may be substituted, however, unless the Indenture Trustee receives a legal opinion, acceptable in form and substance to the Indenture Trustee, from counsel to the provider of the new credit enhancement with respect to its enforceability and any other matters the Indenture Trustee reasonably requires. Within five Business Days after the Indenture Trustee takes physical possession of the new credit enhancement and the opinion of counsel, it will deliver the replaced Policy to the Credit Enhancer. Any other form of credit enhancement may also be substituted for the Policy after a Credit Enhancer Default if the new rating of the Notes would be an improvement over their then current rating and the Indenture Trustee receives an Opinion of Counsel to the effect that the substitution will not be treated as a significant modification within the meaning of Treas. Reg. ss. 1.1001-3.
Replacement Policy. If a Credit Enhancer Default occurs, the Depositor may substitute a new insurance policy for the existing Policy so long as (i) the new rating of the Insured Notes would be an improvement over their then current rating, (ii) the new insurance policy will qualify as a "similar commercially available credit enhancement contract" within the meaning of Treas. Reg. ss. 1.1001-3(e)(4)(iv)(B), (iii) the Credit Enhancer shall have failed to cure such Credit Enhancer Default within 10 Business Days following its receipt of written notice of such Credit Enhancer Default, and (iv) the Rating Agency Condition is satisfied. No new credit enhancement may be substituted, however, unless the Indenture Trustee receives a legal opinion, acceptable in form and substance to the Indenture Trustee, from counsel to the provider of the new credit enhancement with respect to its enforceability and any other matters the Indenture Trustee reasonably requires. Within five Business Days after the Indenture Trustee takes physical possession of the new credit enhancement and the opinion of counsel, it will deliver the replaced Policy to the Credit Enhancer. Any other form of credit enhancement may also be substituted for the Policy after a Credit Enhancer Default if the new rating of the Insured Notes would be an improvement over their then current rating and the Indenture Trustee receives an Opinion of Counsel to the effect that the substitution will not be treated as a significant modification within the meaning of Treas. Reg. ss. 1.1001-3 and provided that the requirements of clauses (iii) and (iv) of this Section 8.06 are met. Notwithstanding the foregoing, the substitution of new credit enhancement shall not affect the rights of the Credit Enhancer to receive payments of any amounts due to it or reimbursement for any draws made on the Policy or any other amounts owed to the Credit Enhancer, in each case pursuant to this Indenture and the Insurance Agreement.
Replacement Policy. In the event of a Credit Enhancer ------------------ Default or if the claims paying ability rating of the Credit Enhancer is downgraded and such downgrade results in a downgrading of the then current rating of the Investor Certificates (in each case, a "Replacement Event"), the ----------------- Depositor may, in accordance with and upon satisfaction of the conditions set forth in the Policy, including, without limitation, payment in full of all amounts owed to the Credit Enhancer, but shall not be required to, substitute a new surety bond or surety bonds for the existing Policy, provided, however, -------- ------- that in each case the Investor Certificates shall be rated no lower than the rating assigned by each Rating Agency to the Investor Certificates immediately prior to such Replacement Event and that such new surety bond will qualify as a "similar commercially available credit enhancement contract" within the meaning of Treas. Reg. ss. 1.1001-3(e)(4)(iv)(B). It shall be a condition to substitution of any new credit enhancement that there be delivered to the Trustee a legal opinion, acceptable in form and substance to the Trustee, from counsel to the provider of such new credit enhancement with respect to the enforceability thereof and such other matters as the Trustee may require. Upon receipt of the items referred to above and the taking of physical possession of the new credit enhancement, the Trustee shall, within five Business Days following receipt of such items and such taking of physical possession, deliver the replaced Policy to the Credit Enhancer. Any other form of credit enhancement may also be substituted for the Policy upon the occurrence of a Replacement Event, provided, however, that the Trustee receives an Opinion of -------- ------- Counsel to the effect that such substitution will not be treated as a significant modification within the meaning of Treas. Reg. ss. 1.1001-3.
Replacement Policy. If the puppy does not pass the required examination, develops any genetic or hereditary disorders, or has undescended testicles within one year of purchase, it will be eligible for a replacement. • The buyer will be required to provide documentation from at least two licensed veterinarians including: written documentation & diagnosis, test results, & any other information as requested by the seller. The buyer will continue to remain financially responsible for all veterinary expenses. • Upon replacement, the puppy will need to return with all FKC registration documents in order to return full ownership to the seller. • If a genetic condition should cause the puppy to die within one year of purchase, it will be eligible for replacement. • A necropsy will need to be performed & formal report must be issued by a licensed veterinarian. Once the seller has received this report, it will be thoroughly reviewed before making a final decision. The buyer will be financially responsible for all veterinarian expenses during this time. • If the seller finds the necropsy report to reflect the cause of death was due to a genetic condition, the seller will agree to replace the puppy. The replacement puppy will be taken from a future litter & will be of the same sex & value of the original puppy. Cash refunds, in part or full, will not be given under any circumstances. BUYER’s DETAILS FULL Name: Address: City/State: Phone Number: Email: BY SIGNING THIS DOCUMENT, THE BUYER SHOWS THAT THEY BOTH UNDERSTAND & AGREE TO THE ABOVE TERMS. DATE: SELLER’s SIGNATURE DATE:
Replacement Policy. In the interest of fiscal responsibility, uniforms will not be replaced strictly on a time schedule, but on proof of wear. Work boots will be replaced on a minimum interval schedule of once per year. Winter outerwear will be replaced on a minimum interval of once per three years. Once these milestones are achieved, an employee may request replacement on the basis of excessive wear and true need. Determination of excessive wear and the need for replacement will be at the discretion of the Public Works Director, or his/her designee and will always be based on common reasonability. Old uniform items which have been replaced must be returned to the Village. Employees are encouraged to keep one extra set of winter gear and safety shoes in their locker in case they forget to bring such equipment to work. VILLAGE OF XXXXXXX
Replacement Policy. A. For the duration of the Agreement, the Employer will provide each sworn employee a six hundred twenty-five dollars ($625.00) per year for uniform replacements.
Replacement Policy. If the puppy does not pass the required examination, develops any genetic or hereditary disorders, or has undescended testicles within one year of purchase, it will be eligible for a replacement. • The buyer will be required to provide documentation from at least two licensed veterinarians including: written documentation and diagnosis, test results, and any other information as requested by the seller. The buyer will continue to remain financially responsible for all veterinary expenses. • Upon replacement, the puppy will need to return with all registration documents in order to return full ownership to the seller. If a genetic condition should cause the puppy to die within one year of purchase, it will be eligible for replacement. • A necropsy will need to be performed and a formal report must be issued by a licensed veterinarian. Once the seller has received this report, it will be thoroughly reviewed before making a final decision. The buyer will be financially responsible for all veterinary expenses during this time. If the seller finds the necropsy report to reflect that the cause of death was due to a genetic condition, the seller will agree to replace the puppy. The replacement puppy will be taken from a future litter and will be of the same sex and value of the original puppy. Cash refunds, in part or full, will not be given under any circumstances. The buyer will need to pay the balance and pick up the puppy within 10 days of the arranged pick up date, unless special arrangements have been made. If the buyer fails to pick up the puppy within this time period, the puppy will be resold and the buyer's deposit will be forfeited. Puppy Details Terms of Sale Name: Color: black and brown Sex: Shipping: Buyer is responsible for shipping Fee Pick Up Date/ Delivery Date: Total:$ BUYER'S DETAILS Full Name: Email: Address: City: State: zIp-code: Phone Number: BY SIGNING THIS DOCUMENT, THE BUYER SHOWS THAT THEY BOTH UNDERSTAND AND AGREE TO THE ABOVE TERMS. Xxxx@xxxxxxxxxxxxxxxxxxx.xxx
Replacement Policy. If a Credit Enhancer Default occurs or if the claims-paying ability rating of the Credit Enhancer is downgraded, the Depositor may acquire new surety bonds in addition to the existing Policy so long as the new rating of the Notes would be an improvement over their then current rating and that the new surety bond will qualify as a "similar commercially available credit enhancement contract" within the meaning of Treas. Reg. ss. 1.1001-3(e)(4)(iv)(B). However, no new credit enhancement may be added unless the Indenture Trustee receives a legal opinion, acceptable in form and substance to the Indenture Trustee, from counsel to the provider of the new credit enhancement with respect to its enforceability and any other matters the Indenture Trustee reasonably requires. Any other form of credit enhancement may also be added after a Credit Enhancer Default or downgrade if the new rating of the Notes would be an improvement over their then current rating and the Indenture Trustee receives an Opinion of Counsel to the effect that the addition will not be treated as a significant modification within the meaning of Treas. Reg. ss. 1.1001-3.
Replacement Policy. The Replacement Policy shall have been obtained and shall, upon the Closing, be in full force and effect.
