SUBSTITUTION AMOUNT Sample Clauses
The Substitution Amount clause defines the monetary value assigned when one party replaces an asset, obligation, or contract with another under the agreement. In practice, this clause specifies how the value of the substituted item is calculated, often referencing market value, agreed formulas, or third-party valuations, and applies in scenarios such as collateral replacement or novation of contracts. Its core function is to ensure both parties have a clear, agreed-upon method for valuing substitutions, thereby reducing disputes and providing certainty in the event of asset or obligation replacement.
SUBSTITUTION AMOUNT. Clause 2.1 - The amount of the substitution of the SUBSTITUTED INSTRUMENT by this INSTRUMENT OF AUTHORIZATION is R$9,000.00 (nine thousand reais). Sole Paragraph - Lack of payment of installments that are still pending, resulting from assumed commitments, related to the amounts due because of the Concession or Authorization of Cellular Mobile Service - SMC, will imply forfeiture of this Authorization, irrespective of other penalties provided.