Common use of Substitution of the Issuer Clause in Contracts

Substitution of the Issuer. (a) Notwithstanding any other provision contained in this Indenture, (i) the Issuer may, without the consent of the holders of the Notes, be replaced and substituted by (i) the Guarantor or (ii) any Wholly-Owned Subsidiary of the Guarantor as principal debtor (in such capacity, the ―Substituted Debtor‖) in respect of the Notes provided that:

Substitution of the Issuer. (a) Notwithstanding any other provision contained in this Indenture, (i) the Issuer may, without the consent of the holders of the Notes, be replaced and substituted by (i) the Guarantor Guarantor, (ii) Odebrecht S.A. or (iiiii) any Wholly-Owned Subsidiary of the Guarantor or Odebrecht S.A. as principal debtor (in such capacity, the ―Substituted Debtor‖“Substituted Debtor”) in respect of the Notes provided that:

Substitution of the Issuer. (a) Notwithstanding any other provision contained in this the Indenture, (i) the Issuer may, without the consent of the holders of the Notes, be replaced and substituted by (i) the Guarantor Guarantor, (ii) Odebrecht S.A. or (iiiii) any Wholly-Owned Subsidiary of the Guarantor or Odebrecht S.A. as principal debtor (in such capacity, the ―Substituted Debtor‖“Substituted Debtor”) in respect of the Notes provided that:

Substitution of the Issuer. (a) Notwithstanding any other provision contained in this the Indenture, (i) the Issuer may, without the consent of the holders of the Notes, be replaced and substituted by (i) the Guarantor or (ii) any Wholly-Wholly Owned Subsidiary of the Guarantor as principal debtor (in such capacity, the ―Substituted Debtor‖) in respect of the Notes provided that: