Substitute Property. If, while any of the Restricted Shares remain subject to forfeiture, there occurs a merger, reclassification, recapitalization, stock split, stock dividend or other similar event or transaction resulting in new, substituted or additional securities being issued or delivered to the Grantee by reason of the Grantee’s ownership of the Restricted Shares, such securities will constitute “Restricted Shares” for all purposes of this Agreement and any certificate issued to evidence such securities will immediately be deposited with the secretary of the Company (or his or her designee) and subject to the escrow described in Section 3, above.
Substitute Property. Each Property Substitution shall be subject to the satisfaction of the following conditions precedent (collectively, the “Substitution Requirements”):
Substitute Property. If, while any of the Restricted Units remain subject to a Restricted Period, there occurs a merger, reclassification, recapitalization, stock split, stock dividend or other similar event or transaction resulting in new, substituted or additional securities being issued or delivered to the Participant by reason of the Participant’s ownership of the Restricted Units, such securities will constitute “Restricted Units” for all purposes of this Agreement.
Substitute Property. Provided that the Substitution Conditions (as defined below) are satisfied in all respects, Borrower shall be entitled, either simultaneously or after the Bank issues any Partial Release in accordance with the terms and conditions of Subsections 18(a) and (b) herein above, to substitute, or add properties owned by the Borrower or any of its subsidiaries (each such property a “Substitute Property”) to the Property securing the Credit Loan, thereby increasing the Credit Loan (and the Bank’s commitment to fund the Credit Loan) to an amount which shall not exceed the lesser of (i) $12,500,000.00; or (ii) 65.00% of the then current aggregate appraised fair market value of the Property and each Substitute Property, on a “leased fee interest” basis, as determined by the Bank in its sole discretion (the “Modified Credit Loan”).
Substitute Property. (a) The Authority may propose, in writing, a Substitute Property in place of any of the Properties in Schedule 1.
Substitute Property. 2.01(f) Survey.....................................................................................................2.01(b) Surveys....................................................................................................2.01(b) Surviving Obligations.........................................................................................1.06
Substitute Property. (a) The Authority may propose, in writing, a Substitute Property in place of any of the Housing Assets (including Nominated Properties) at any time during the term of this Deed.
Substitute Property. Borrower may elect to substitute property for the Purchase Option Property. If Borrower so elects, Borrower shall:
Substitute Property any parcel of Real Estate, the Fixtures and Equipment located thereon and the Leases and Rents arising therefrom which do not comprise a Mortgaged Property as of the Closing Date.
Substitute Property. 82 45. CONFIDENTIALITY................................................................... 88
