Substitution of Collateral. A Fund may substitute securities for any securities identified as Collateral by delivery to the Custodian of a Pledge Certificate executed by such Fund on behalf of the applicable Portfolio, indicating the securities pledged as Collateral.
Substitution of Collateral. To the extent the Client’s Board of Directors/Trustees permits the use of Non-Cash Collateral, the Client acknowledges and agrees that, pursuant to any SLA, the Lending Agent may permit an Approved Borrower to substitute Collateral of any type specified in Section 4 hereof during the term of any loan so long as the required margin in respect of such loan continues to be satisfied at the time of such substitution.
Substitution of Collateral. The Pledgor may substitute Collateral in accordance with the following provisions:
Substitution of Collateral. The Fund acknowledges and agrees that, pursuant to any SLA, BBH&Co. may permit an Approved Borrower to substitute Collateral, which is of the type specified in Section 5 hereto, during the term of any loan so long as the required margin in respect of such loan continues to be satisfied at the time of such substitution.
Substitution of Collateral. Upon the Bank's prior written approval, the Borrower may substitute collateral originally provided for the Revolving Credit Loan for collateral of equal value but such substituted collateral must be acceptable to the Bank and the acceptance thereof is solely within the discretion of the Bank.
Substitution of Collateral. Notwithstanding anything to the contrary herein, the Pledgor may, in the Pledgor’s sole discretion, add additional collateral to the Collateral and/or may substitute Collateral as the Pledgor deems fit, provided that the fair market value of the substituted Collateral may not be less than the aggregate principal balance of the Notes as of the date of any such substitution. Pledgor, as Company’s attorney-in-fact, shall be authorized to file a UCC Financing Statement Amendment (Form UCC3) with respect to each applicable Financing Statement to reflect such substitution of Collateral. Any portion of the Collateral replaced by the substituted Collateral that is held by or on behalf of Company shall be returned to the Pledgor within five (5) business days of Pledgor’s written notice of substitution, and Company shall timely execute and deliver to the Pledgor, and file and/or record, as necessary, all such documents as the Pledgor shall reasonably request to evidence such substitution of Collateral.
Substitution of Collateral. (a) Provided that no Event of Default has occurred and is continuing, the Company shall have the right (and, under the terms of the Indenture, in certain circumstances the obligation) to substitute promissory notes or other similar instruments or investment property that meet the terms and conditions of Section 4.9 of the Indenture ("Substituted Notes") for Notes previously pledged as Collateral ("Released Notes").
Substitution of Collateral. So long as an Obligor is not in default in respect of his obligation to furnish additional Collateral pursuant to Section 7.03 hereof or to purchase the Shares covered by any of such Obligor's Collateralized Equity Contracts on the Purchase Date, such Obligor may obtain release of his Collateral (including the cash proceeds of such Collateral) from the security interest and pledge granted in the Collateral Agreement to the Equity Contract Agent on behalf of the Corporation by delivering to the Equity Contract Agent in substitution therefor Collateral of the kind and value required by Section 7.01 equal to the value (as so determined) of the Collateral (including the amount of any cash proceeds thereof) to be released. Upon receipt of such substitute Collateral, the Equity Contract Agent shall make a notation of each substitution on the Collateral Agreement pursuant to which the collateral to be released was pledged and shall return the Collateral (including any cash proceeds thereof) released as a result of such substitution. No service charge will be made by the Equity Contract Agent for any substitution of Collateral. So long as an Obligor is not in default in respect of his obligation to furnish additional Collateral pursuant to Section 7.03 hereof or to purchase the Shares covered by any such Obligor's Collateralized Equity Contracts on the Purchase Date, the amount of any cash at any time included in this Collateral resulting from payment at maturity of any Eligible Government Obligations, shall, pursuant to written instructions received by the Equity Contract Agent from such Obligor accompanied by reasonable transaction fees and other expenses as determined by the Equity Contract Agent, be invested, to the extent reasonably practicable, by the Equity Contract Agent in one or more other Eligible Government Obligations, as specified by such Obligor in said instructions. Notwithstanding the provisions of Section 7.02, in the event any such cash shall be so invested, after the Equity Contract Agent shall have purchased such obligations for such Obligor, the Equity Contract Agent promptly shall remit to the Obligor any excess cash Collateral held by the Equity Contract Agent as collateral security for such Obligor's Collateralized Equity Contracts.
Substitution of Collateral. During the Term, if Borrower proposes to sell a parcel (the “Substituted Parcel”) which is part of the Property to a bona fide third party purchaser, then as limited below, Borrower will be permitted to substitute (a “Substitution”) a property (the “Substitution New Parcel”) and obtain a release from Lender’s lien for the Substituted Parcel subject to the satisfaction of the following conditions and limitations, satisfaction to be determined by Lender in its reasonable discretion except as otherwise expressly stated:
Substitution of Collateral. Each Participating Fund acknowledges and agrees that, pursuant to any MSLA, Lending Agent may permit a Borrower to substitute Collateral of the type specified in this Section 6 during the term of any loan, so long as the required margin in respect of such loan continues to be satisfied at the time of such substitution.
