{"component": "clause", "props": {"groups": [{"snippet_links": [{"key": "subject-to-agreement", "type": "clause", "offset": [16, 36]}, {"key": "acceptance-by-buyer", "type": "clause", "offset": [46, 65]}, {"key": "other-securities", "type": "definition", "offset": [78, 94]}, {"key": "to-buyer", "type": "definition", "offset": [169, 177]}, {"key": "to-seller", "type": "definition", "offset": [216, 225]}, {"key": "substituted-securities", "type": "definition", "offset": [280, 302]}, {"key": "the-parties", "type": "clause", "offset": [424, 435]}, {"key": "buyer-shall", "type": "clause", "offset": [457, 468]}, {"key": "for-purposes-of", "type": "clause", "offset": [480, 495]}, {"key": "agreed-to-and-accepted", "type": "definition", "offset": [540, 562]}, {"key": "agreement-substitution", "type": "clause", "offset": [571, 593]}, {"key": "by-seller", "type": "clause", "offset": [594, 603]}, {"key": "market-value", "type": "clause", "offset": [709, 721]}, {"key": "at-least-equal-to", "type": "definition", "offset": [722, 739]}, {"key": "the-market", "type": "clause", "offset": [740, 750]}, {"key": "the-purchased-securities", "type": "clause", "offset": [760, 784]}], "size": 185, "snippet": "(a) Seller may, subject to agreement with and acceptance by Buyer, substitute other Securities for any Purchased Securities. Such substitution shall be made by transfer to Buyer of such other Securities and transfer to Seller of such Purchased Securities. After substitution, the substituted Securities shall be deemed to be Purchased Securities.\n(b) In Transactions in which Seller retains custody of Purchased Securities, the parties expressly agree that Buyer shall be deemed, for purposes of subparagraph (a) of this Paragraph, to have agreed to and accepted in this Agreement substitution by Seller of other Securities for Purchased Securities; provided, however, that such other Securities shall have a Market Value at least equal to the Market Value of the Purchased Securities for which they are substituted.", "samples": [{"hash": "2ntMk12bFFR", "uri": "/contracts/2ntMk12bFFR#substitution", "label": "Master Repurchase Agreement (United States Cellular Corp)", "score": 33.0848731995, "published": true}, {"hash": "lw4qm98059g", "uri": "/contracts/lw4qm98059g#substitution", "label": "Securities Transfer Agreement (loanDepot, Inc.)", "score": 32.8165626526, "published": true}, {"hash": "9VdccA6IyZa", "uri": "/contracts/9VdccA6IyZa#substitution", "label": "Master Repurchase Agreement (Angel Oak Mortgage, Inc.)", "score": 32.7234764099, "published": true}], "hash": "c8dd03bb6a2f96e6bfa07b80b5699f25", "id": 1}, {"snippet_links": [{"key": "in-the-event-of", "type": "clause", "offset": [0, 15]}, {"key": "indemnifying-party", "type": "definition", "offset": [39, 57]}, {"key": "the-parties-shall", "type": "clause", "offset": [149, 166]}, {"key": "for-any-reason", "type": "clause", "offset": [290, 304]}, {"key": "not-requested", "type": "clause", "offset": [311, 324]}, {"key": "the-action", "type": "definition", "offset": [391, 401]}, {"key": "section-45", "type": "clause", "offset": [418, 429]}, {"key": "section-46", "type": "clause", "offset": [439, 450]}, {"key": "costs-of", "type": "definition", "offset": [533, 541]}, {"key": "court-costs", "type": "definition", "offset": [574, 585]}, {"key": "external-expenses", "type": "definition", "offset": [661, 678]}, {"key": "cost-of", "type": "definition", "offset": [729, 736]}, {"key": "relating-to", "type": "definition", "offset": [763, 774]}], "size": 138, "snippet": "In the event of an Action in which the Indemnifying Party is not a named defendant, if either the Indemnitee or Indemnifying Party shall so request, the Parties shall endeavor to substitute the Indemnifying Party for the named defendant. If such substitution or addition cannot be achieved for any reason or is not requested, the named defendant shall allow the Indemnifying Party to manage the Action as set forth in Section 4.5 and this Section 4.6, and the Indemnifying Party shall fully indemnify the named defendant against all costs of defending the Action (including court costs, sanctions imposed by a court, attorneys\u2019 fees, experts fees and all other external expenses), the costs of any judgment or settlement and the cost of any interest or penalties relating to any judgment or settlement.", "samples": [{"hash": "4pQaUDNCiw8", "uri": "/contracts/4pQaUDNCiw8#substitution", "label": "Separation and Distribution Agreement (Curbline Properties Corp.)", "score": 35.7488021851, "published": true}, {"hash": "alENYDJVAyU", "uri": "/contracts/alENYDJVAyU#substitution", "label": "Separation and Distribution Agreement (Curbline Properties Corp.)", "score": 35.6721420288, "published": true}, {"hash": "hu5NqibGczK", "uri": "/contracts/hu5NqibGczK#substitution", "label": "Separation and Distribution Agreement (Istar Inc.)", "score": 34.2539367676, "published": true}], "hash": "18e80844dcf3df83af9b823c67c7a462", "id": 2}, {"snippet_links": [{"key": "consent-of-the", "type": "clause", "offset": [29, 43]}, {"key": "subject-to-the", "type": "definition", "offset": [69, 83]}, {"key": "prior-consent", "type": "clause", "offset": [84, 97]}, {"key": "authorised-participant", "type": "definition", "offset": [106, 128]}, {"key": "margin-loan-provider", "type": "definition", "offset": [137, 157]}, {"key": "agree-to", "type": "clause", "offset": [159, 167]}, {"key": "place-of", "type": "clause", "offset": [189, 197]}, {"key": "the-principal", "type": "definition", "offset": [244, 257]}, {"key": "the-security-documents", "type": "clause", "offset": [271, 293]}, {"key": "programme-documents", "type": "clause", "offset": [305, 324]}, {"key": "a-party", "type": "clause", "offset": [340, 347]}, {"key": "etp-securities", "type": "definition", "offset": [356, 370]}, {"key": "other-company", "type": "definition", "offset": [394, 407]}, {"key": "any-jurisdiction", "type": "definition", "offset": [425, 441]}, {"key": "substituted-obligor", "type": "definition", "offset": [483, 502]}, {"key": "provided-that", "type": "clause", "offset": [506, 519]}, {"key": "to-the-trustee", "type": "clause", "offset": [592, 606]}, {"key": "form-and-manner", "type": "clause", "offset": [611, 626]}, {"key": "consequential-amendments", "type": "clause", "offset": [752, 776]}, {"key": "all-rights", "type": "clause", "offset": [992, 1002]}, {"key": "obligations-and-liabilities", "type": "clause", "offset": [1004, 1031]}, {"key": "in-relation-to", "type": "clause", "offset": [1032, 1046]}, {"key": "secured-property", "type": "definition", "offset": [1051, 1067]}, {"key": "pursuant-to-the-security", "type": "clause", "offset": [1122, 1146]}, {"key": "valid-charge", "type": "definition", "offset": [1245, 1257]}, {"key": "other-security-interest", "type": "definition", "offset": [1269, 1292]}, {"key": "by-the-issuer", "type": "clause", "offset": [1345, 1358]}, {"key": "obligations-of-the", "type": "clause", "offset": [1367, 1385]}, {"key": "director-of", "type": "clause", "offset": [1418, 1429]}, {"key": "have-regard-to", "type": "definition", "offset": [1546, 1560]}, {"key": "financial-condition", "type": "clause", "offset": [1587, 1606]}, {"key": "reference-to", "type": "clause", "offset": [1725, 1737]}, {"key": "legal-opinions", "type": "clause", "offset": [1738, 1752]}, {"key": "regulatory-approvals-and-consents", "type": "clause", "offset": [1794, 1827]}, {"key": "necessary-for", "type": "definition", "offset": [1828, 1841]}, {"key": "in-connection-with", "type": "clause", "offset": [1845, 1863]}, {"key": "assumption-by", "type": "clause", "offset": [1868, 1881]}, {"key": "liability-as-principal-debtor", "type": "clause", "offset": [1909, 1938]}, {"key": "in-respect-of", "type": "clause", "offset": [1939, 1952]}, {"key": "at-the-time", "type": "definition", "offset": [2104, 2115]}, {"key": "full-force-and-effect", "type": "clause", "offset": [2135, 2156]}, {"key": "programme-party", "type": "definition", "offset": [2287, 2302]}, {"key": "documents-and-instruments", "type": "clause", "offset": [2334, 2359]}, {"key": "fully-effective", "type": "clause", "offset": [2431, 2446]}, {"key": "comply-with", "type": "definition", "offset": [2451, 2462]}, {"key": "other-requirements", "type": "definition", "offset": [2468, 2486]}, {"key": "the-interests", "type": "clause", "offset": [2490, 2503]}, {"key": "substitution-of-the-issuer", "type": "clause", "offset": [2594, 2620]}, {"key": "holders-of", "type": "clause", "offset": [2666, 2676]}, {"key": "a-change-of", "type": "definition", "offset": [2706, 2717]}, {"key": "the-law", "type": "clause", "offset": [2718, 2725]}, {"key": "from-time-to-time", "type": "clause", "offset": [2726, 2743]}, {"key": "supplemental-trust-deed", "type": "definition", "offset": [2785, 2808]}, {"key": "change-of-law", "type": "definition", "offset": [2859, 2872]}, {"key": "an-agreement", "type": "clause", "offset": [3239, 3251]}, {"key": "by-the-trustee", "type": "clause", "offset": [3252, 3266]}, {"key": "obligations-under-the", "type": "clause", "offset": [3418, 3439]}, {"key": "notice-of-the", "type": "clause", "offset": [3558, 3571]}, {"key": "calendar-days", "type": "clause", "offset": [3622, 3635]}, {"key": "the-execution", "type": "clause", "offset": [3639, 3652]}, {"key": "compliance-with", "type": "clause", "offset": [3675, 3690]}, {"key": "completion-of-the", "type": "clause", "offset": [3713, 3730]}, {"key": "set-out", "type": "definition", "offset": [3743, 3750]}, {"key": "these-conditions", "type": "clause", "offset": [3857, 3873]}, {"key": "give-effect-to", "type": "definition", "offset": [4176, 4190]}], "size": 120, "snippet": "The Trustee may, without the consent of the ETP Securityholders, but subject to the prior consent of each Authorised Participant and the Margin Loan Provider, agree to the substitution, in place of the Issuer (or of any previous substitute) as the principal debtor under the Security Documents, the other Programme Documents to which it is a party and the ETP Securities of each Series, of any other company (incorporated in any jurisdiction) (any such substitute company being the \"Substituted Obligor\"), provided that:\n(A) a deed is executed or undertaking given by the Substituted Obligor to the Trustee, in form and manner satisfactory to the Trustee, agreeing to be bound by the Security Documents and the ETP Securities of each Series (with such consequential amendments as the Trustee may deem appropriate) as if the Substituted Obligor had been named in the Security Documents and the ETP Securities as the principal debtor in place of the Issuer;\n(B) the Substituted Obligor assumes all rights, obligations and liabilities in relation to the Secured Property, acknowledges the Security created in respect thereof pursuant to the Security Documents and takes all such action as the Trustee may require so that the Security constitutes a valid charge, pledge or other security interest over the Secured Property as was originally created by the Issuer for the obligations of the Substituted Obligor;\n(C) if any director of the Substituted Obligor certifies that it will be solvent immediately after such substitution, the Trustee need not have regard to the Substituted Obligor\u2019s financial condition, profits or prospects or compare them with those of the Issuer;\n(D) the Trustee will be satisfied (if it requires, by reference to legal opinions) that (a) all necessary governmental and regulatory approvals and consents necessary for or in connection with the assumption by the Substituted Obligor of liability as principal debtor in respect of, and of its obligations under, the ETP Securities of each Series and any Programme Document have been obtained and (b) such approvals and consents are at the time of substitution in full force and effect;\n(E) the Issuer and the Substituted Obligor will execute and the Issuer shall procure that the Margin Loan Provider and any other Programme Party will execute such other deeds, documents and instruments (if any) as the Trustee may require in order that such substitution is fully effective and comply with such other requirements in the interests of the ETP Securityholders as the Trustee may direct;\n(F) in connection with any proposed substitution of the Issuer, the Trustee may, without the consent of the holders of the ETP Securities, agree to a change of the law from time to time governing such ETP Securities and/or the Supplemental Trust Deed and/or the Security Documents, provided that such change of law, in the opinion of the Trustee, would not be materially prejudicial to the interests of such ETP Securityholders;\n(G) the Issuer and the Substituted Obligor comply with such other requirements as the Trustee may direct in the interests of the ETP Securityholders; and\n(H) a legal opinion satisfactory to the Trustee is provided concerning any proposed substitution. An agreement by the Trustee pursuant to this Condition 14.3 and the Security Documents will, if so expressed, release the Issuer (or a previous substitute) from any or all of its obligations under the Security Documents, the ETP Securities and the other relevant Programme Documents. The Substituted Obligor shall give notice of the substitution to the ETP Securityholders within 14 calendar days of the execution of such documents and compliance with such requirements. On completion of the formalities set out in this Condition 14.3 and the Security Documents, the Substituted Obligor shall be deemed to be named in these Conditions, the Security Documents, the other Programme Documents and the ETP Securities as the principal debtor in place of the Issuer (or of any previous substitute) and these Conditions, the Security Documents, the other Programme Documents and the ETP Securities shall be deemed to be amended as necessary to give effect to the substitution.", "samples": [{"hash": "iDNPxBEmJqX", "uri": "/contracts/iDNPxBEmJqX#substitution", "label": "Supplemental Trust Deed", "score": 33.1916313171, "published": true}, {"hash": "fhxsAiXjdVJ", "uri": "/contracts/fhxsAiXjdVJ#substitution", "label": "Supplemental Trust Deed", "score": 32.1160392761, "published": true}, {"hash": "8yEBWDCOhNz", "uri": "/contracts/8yEBWDCOhNz#substitution", "label": "Supplemental Trust Deed", "score": 30.5352668762, "published": true}], "hash": "c654c9f5aa5d58226c20a20f6e1a5a81", "id": 3}, {"snippet_links": [{"key": "in-lieu-of", "type": "clause", "offset": [0, 10]}, {"key": "article-vi", "type": "clause", "offset": [61, 71]}, {"key": "eligible-loans", "type": "clause", "offset": [115, 129]}, {"key": "arrange-for", "type": "clause", "offset": [133, 144]}, {"key": "substantially-similar", "type": "definition", "offset": [190, 211]}, {"key": "aggregate-basis", "type": "clause", "offset": [218, 233]}, {"key": "date-of", "type": "clause", "offset": [244, 251]}, {"key": "the-trust-student-loans", "type": "clause", "offset": [268, 291]}, {"key": "with-respect-to", "type": "clause", "offset": [329, 344]}, {"key": "program-type", "type": "definition", "offset": [455, 467]}, {"key": "total-return", "type": "definition", "offset": [559, 571]}, {"key": "principal-balance", "type": "clause", "offset": [577, 594]}, {"key": "term-to-maturity", "type": "clause", "offset": [615, 631]}, {"key": "in-addition", "type": "clause", "offset": [633, 644]}, {"key": "the-representations-and-warranties", "type": "clause", "offset": [734, 768]}, {"key": "loans-to", "type": "clause", "offset": [806, 814]}, {"key": "the-seller-shall", "type": "clause", "offset": [859, 875]}, {"key": "reasonable-determination", "type": "definition", "offset": [883, 907]}, {"key": "the-noteholders", "type": "clause", "offset": [993, 1008]}, {"key": "in-connection-with", "type": "clause", "offset": [1010, 1028]}, {"key": "sale-agreement", "type": "clause", "offset": [1050, 1064]}, {"key": "substituted-loans", "type": "definition", "offset": [1105, 1122]}, {"key": "executed-and-delivered", "type": "clause", "offset": [1131, 1153]}, {"key": "applicable-parties", "type": "clause", "offset": [1161, 1179]}, {"key": "in-the-event", "type": "clause", "offset": [1181, 1193]}, {"key": "seller-will", "type": "clause", "offset": [1279, 1290]}, {"key": "to-the-administrator", "type": "clause", "offset": [1297, 1317]}, {"key": "purchase-amount", "type": "clause", "offset": [1358, 1373]}, {"key": "of-the-trust", "type": "clause", "offset": [1432, 1444]}, {"key": "equal-to", "type": "definition", "offset": [1556, 1564]}, {"key": "interest-amounts", "type": "clause", "offset": [1569, 1585]}, {"key": "administration-agreement", "type": "clause", "offset": [1672, 1696]}, {"key": "sole-remedy", "type": "definition", "offset": [1702, 1713]}, {"key": "of-the-purchaser", "type": "clause", "offset": [1714, 1730]}, {"key": "the-trustee", "type": "clause", "offset": [1732, 1743]}, {"key": "breach-by-the-seller", "type": "clause", "offset": [1806, 1826]}, {"key": "pursuant-to-article", "type": "clause", "offset": [1827, 1846]}, {"key": "require-the", "type": "clause", "offset": [1868, 1879]}, {"key": "to-reimburse", "type": "definition", "offset": [1920, 1932]}, {"key": "trustee-shall", "type": "definition", "offset": [2025, 2038]}, {"key": "no-duty", "type": "clause", "offset": [2044, 2051]}, {"key": "purchase-of", "type": "clause", "offset": [2145, 2156]}, {"key": "interest-penalty", "type": "clause", "offset": [2209, 2225]}], "size": 71, "snippet": "In lieu of repurchasing Trust Student Loans pursuant to this Article VI, the Seller may, at its option, substitute Eligible Loans or arrange for the substitution of Eligible Loans which are substantially similar on an aggregate basis as of the date of substitution to the Trust Student Loans for which they are being substituted with respect to the following characteristics:\n(i) status (i.e., in-school, grace, deferment, forbearance or repayment);\n(ii) Program type (i.e., MEDLOANS, LAW Loans, MBA Loans or Signature Student Loans);\n(iii) school type;\n(iv) total return;\n(v) principal balance; and\n(vi) remaining term to maturity. In addition, each substituted Eligible Loan will comply, as of the date of substitution, with all of the representations and warranties made hereunder. In choosing Eligible Loans to be substituted pursuant to this Article VI, the Seller shall make a reasonable determination that the Eligible Loans to be substituted will not have a material adverse effect on the Noteholders. In connection with each substitution, a Sale Agreement and related \u2587\u2587\u2587\u2587 of Sale regarding such substituted Loans will be executed and delivered by the applicable parties. In the event that the Seller elects to substitute Eligible Loans pursuant to this Article VI, the Seller will remit to the Administrator the amount of any shortfall between the Purchase Amount of the substituted Eligible Loans and the Purchase Amount of the Trust Student Loans for which they are being substituted. The Seller shall also remit to the Administrator an amount equal to all interest amounts with respect to the Trust Student Loans in the manner provided in Section 2.06 of the Administration Agreement. The sole remedy of the Purchaser, the Trustee, the Noteholders and the Certificateholders with respect to a breach by the Seller pursuant to Article V hereof shall be to require the Seller to purchase Trust Student Loans, to reimburse the Purchaser as provided above or to substitute Student Loans pursuant to this Article VI. Trustee shall have no duty to conduct any affirmative investigation as to the occurrence of any condition requiring the purchase of any Trust Student Loan or the reimbursement for any interest penalty pursuant to this Article VI.", "samples": [{"hash": "igFFhTbzbHg", "uri": "/contracts/igFFhTbzbHg#substitution", "label": "Sale Agreement (SLM Private Credit Student Loan Trust 2005-A)", "score": 21.0, "published": true}, {"hash": "hKVBXce39eL", "uri": "/contracts/hKVBXce39eL#substitution", "label": "Sale Agreement (SLM Private Credit Student Loan Trust 2005-B)", "score": 21.0, "published": true}, {"hash": "dGl38nSjXAe", "uri": "/contracts/dGl38nSjXAe#substitution", "label": "Sale Agreement (SLM Private Credit Student Loan Trust 2006-A)", "score": 21.0, "published": true}], "hash": "b3bce4c0d4311b7b5d566790c1d4edf9", "id": 5}, {"snippet_links": [{"key": "receipt-by-the-corporation", "type": "clause", "offset": [5, 31]}, {"key": "exercise-of", "type": "clause", "offset": [65, 76]}, {"key": "reasonable-discretion", "type": "definition", "offset": [77, 98]}, {"key": "ownership-of", "type": "clause", "offset": [113, 125]}, {"key": "the-warrant", "type": "clause", "offset": [178, 189]}, {"key": "in-the-case", "type": "clause", "offset": [196, 207]}, {"key": "surrender-and-cancellation", "type": "clause", "offset": [356, 382]}, {"key": "in-lieu", "type": "clause", "offset": [432, 439]}, {"key": "new-warrant", "type": "clause", "offset": [451, 462]}, {"key": "like-tenor", "type": "clause", "offset": [466, 476]}], "size": 61, "snippet": "Upon receipt by the Corporation of evidence satisfactory (in the exercise of reasonable discretion) to it of the ownership of and the loss, theft or destruction or mutilation of the Warrant, and (in the case or loss, theft or destruction) of indemnity satisfactory (in the exercise of reasonable discretion) to it, and (in the case of mutilation) upon the surrender and cancellation thereof, the Corporation will issue and deliver, in lieu thereof, a new Warrant of like tenor.", "samples": [{"hash": "eyaWQmxx6aZ", "uri": "/contracts/eyaWQmxx6aZ#substitution", "label": "Warrant Agreement (Innovative Payment Solutions, Inc.)", "score": 29.1540050507, "published": true}, {"hash": "c5J7aZUpPrQ", "uri": "/contracts/c5J7aZUpPrQ#substitution", "label": "Warrant Agreement (Youngevity International, Inc.)", "score": 29.1485290527, "published": true}, {"hash": "ds39fxUwFv7", "uri": "/contracts/ds39fxUwFv7#substitution", "label": "Warrant Agreement (Youngevity International, Inc.)", "score": 29.1430530548, "published": true}], "hash": "7a53afc6fa618b75d2f1252fdd3733e0", "id": 7}, {"snippet_links": [{"key": "in-the-event-of", "type": "clause", "offset": [0, 15]}, {"key": "indemnifying-party", "type": "definition", "offset": [39, 57]}, {"key": "the-parties-shall", "type": "clause", "offset": [153, 170]}, {"key": "for-any-reason", "type": "clause", "offset": [294, 308]}, {"key": "not-requested", "type": "clause", "offset": [315, 328]}, {"key": "the-rights-and-obligations-of-the-parties", "type": "clause", "offset": [330, 371]}, {"key": "management-of-the", "type": "clause", "offset": [406, 423]}, {"key": "defense-of-claims", "type": "clause", "offset": [424, 441]}, {"key": "article-i", "type": "definition", "offset": [463, 472]}], "size": 109, "snippet": "In the event of an Action in which the Indemnifying Party is not a named defendant, if either the Indemnitee or the Indemnifying Party shall so request, the parties shall endeavor to substitute the Indemnifying Party for the named defendant. If such substitution or addition cannot be achieved for any reason or is not requested, the rights and obligations of the parties regarding indemnification and the management of the defense of claims as set forth in this Article I shall not be altered.", "samples": [{"hash": "4BDYpoJxuQ2", "uri": "/contracts/4BDYpoJxuQ2#substitution", "label": "Indemnification and Insurance Matters Agreement (Palmsource Inc)", "score": 21.0, "published": true}, {"hash": "tQuuJm9uwt", "uri": "/contracts/tQuuJm9uwt#substitution", "label": "Indemnification and Insurance Matters Agreement (Optical Access Inc)", "score": 18.0, "published": true}, {"hash": "gi3pEBdwyy0", "uri": "/contracts/gi3pEBdwyy0#substitution", "label": "Indemnification Agreement (Maxtor Corp)", "score": 18.0, "published": true}], "hash": "0047458fe84c45a6102fb43de9d51e6a", "id": 4}, {"snippet_links": [{"key": "subject-to", "type": "definition", "offset": [48, 58]}, {"key": "security-interest", "type": "definition", "offset": [63, 80]}, {"key": "our-consent", "type": "clause", "offset": [89, 100]}], "size": 54, "snippet": "You may not withdraw or substitute any property subject to our security interest without our consent.", "samples": [{"hash": "iOQc8TlHGFS", "uri": "/contracts/iOQc8TlHGFS#substitution", "label": "Retail Client Terms of Business", "score": 35.9895515442, "published": true}, {"hash": "5Ig3zqvF7ox", "uri": "/contracts/5Ig3zqvF7ox#substitution", "label": "Professional Client Agreement", "score": 32.8428688049, "published": true}, {"hash": "5CdNBT0szzG", "uri": "/contracts/5CdNBT0szzG#substitution", "label": "Eligible Counterparty Agreement", "score": 32.1366271973, "published": true}], "hash": "639bde61b704d630f0d0127e0f9950ee", "id": 8}, {"snippet_links": [{"key": "other-liquidation", "type": "clause", "offset": [0, 17]}], "size": 70, "snippet": "Other Liquidation (Repurchases, etc.)", "samples": [{"hash": "hlM7dIWxTFL", "uri": "/contracts/hlM7dIWxTFL#substitution", "label": "Pooling and Servicing Agreement (ACE Securities Corp. Home Equity Loan Trust, Series 2006-Sd3)", "score": 21.0, "published": true}, {"hash": "gxQ4t3bgfO0", "uri": "/contracts/gxQ4t3bgfO0#substitution", "label": "Pooling and Servicing Agreement (Terwin Mortgage Trust Asset-Backed Certificates, Series TMTS 2005-6he)", "score": 21.0, "published": true}, {"hash": "dUg5Dh3ibdi", "uri": "/contracts/dUg5Dh3ibdi#substitution", "label": "Pooling and Servicing Agreement (Option One Mortgage Loan Trust 2007-4)", "score": 21.0, "published": true}], "hash": "906ee66d41aad91d4bae1a0ed4ed4b6b", "id": 6}, {"snippet_links": [{"key": "upon-a-change-in-control", "type": "clause", "offset": [59, 83]}, {"key": "the-committee", "type": "clause", "offset": [85, 98]}, {"key": "sole-discretion", "type": "clause", "offset": [107, 122]}, {"key": "in-lieu-of", "type": "clause", "offset": [129, 139]}, {"key": "common-stock", "type": "definition", "offset": [148, 160]}, {"key": "amount-payable", "type": "definition", "offset": [198, 212]}, {"key": "form-of", "type": 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"snippet": "(a) A Transaction may at any time between the Purchase Date and Repurchase Date, if Seller so requests and Buyer so agrees, be varied by the transfer by Buyer to Seller of Securities equivalent to the Purchased Securities, or to such of the Purchased Securities as shall be agreed, in exchange for the transfer by Seller to Buyer of other Securities of such amount and description as shall be agreed (\u201cNew Purchased Securities\u201d) (being Securities having a Market Value at the date of the variation at least equal to the Market Value of the Equivalent Securities transferred to Seller).\n(b) Any variation under sub paragraph (a) above shall be effected, subject to paragraph 6(d), by the simultaneous transfer of the Equivalent Securities and New Purchased Securities concerned.\n(c) A Transaction which is varied under sub paragraph (a) above shall thereafter continue in effect as though the Purchased Securities under that Transaction consisted of or included the New Purchased Securities instead of the Securities in respect of which Equivalent Securities have been transferred to Seller.\n(d) Where either party has transferred Margin Securities to the other party it may at any time before Equivalent Margin Securities are transferred to it under paragraph 4 request the other party to transfer Equivalent Margin Securities to it in exchange for the transfer to the other party of new Margin Securities having a Market Value at the time of transfer at least equal to that of such Equivalent Margin Securities. If the other party agrees to the request, the exchange shall be effected, subject to paragraph 6(d), by the simultaneous transfer of the Equivalent Margin Securities and new Margin Securities concerned. Where either or both of such transfers is or are effected through a settlement system in circumstances which under the rules and procedures of that settlement system give rise to a payment by or for the account of one party to or for the account of the other party, the parties shall cause such payment or payments to be made outside that settlement system, for value the same day as the payments made through that settlement system, as shall ensure that the exchange of Equivalent Margin Securities and new Margin Securities effected under this sub paragraph does not give rise to any net payment of cash by either party to the other.", "samples": [{"hash": "bZtBn0JW3Ab", "uri": "/contracts/bZtBn0JW3Ab#substitution", "label": "Global Master Repurchase Agreement", "score": 31.3408622742, "published": true}, {"hash": "2BddBWOCjOZ", "uri": "/contracts/2BddBWOCjOZ#substitution", "label": "Global Master Repurchase Agreement (FS Investment CORP)", "score": 22.315536499, "published": true}, {"hash": "1cV0SKHybGo", "uri": "/contracts/1cV0SKHybGo#substitution", "label": "Global Master Repurchase Agreement (FS Investment Corp II)", "score": 22.315536499, "published": true}], "hash": "3adfec4a97ef573b5735675a6a92aed5", "id": 10}], "next_curs": "ClUST2oVc35sYXdpbnNpZGVyY29udHJhY3RzcjELEhZDbGF1c2VTbmlwcGV0R3JvdXBfdjU2IhVzdWJzdGl0dXRpb24jMDAwMDAwMGEMogECZW4YACAA", "clause": {"parents": [["additional-matters", "Additional Matters"], ["definitions", "Definitions"], ["mutual-releases-indemnification", "Mutual Releases Indemnification"], ["miscellaneous", "Miscellaneous"], ["change-in-control", "Change in Control"]], "size": 4398, "children": [["consent", "Consent"], ["", ""], ["completion-of-substitution", "Completion of Substitution"], ["substitution-effective-date", "Substitution Effective Date"], ["substitution", "SUBSTITUTION"]], "title": "Substitution", "id": "substitution", "related": [["substitution-of-engines", "Substitution of Engines", "<strong>Substitution</strong> of Engines"], ["substitution-of-equipment", "Substitution of Equipment", "<strong>Substitution</strong> of Equipment"], ["replacement", "Replacement", "Replacement"], ["lost-stolen-or-mutilated-warrant", "Lost, Stolen or Mutilated Warrant", "Lost, Stolen or Mutilated Warrant"], ["substitution-of-receipts", "Substitution of Receipts", "<strong>Substitution</strong> of Receipts"]], "related_snippets": [], "updated": "2026-05-15T04:24:17+00:00", "also_ask": ["What are the key triggers and limits for invoking substitution under this clause?", "How can substitution rights be structured to maximize leverage or flexibility in negotiations?", "What are the essential drafting elements to prevent ambiguity or abuse in substitution?", "What are the most common legal pitfalls or unenforceability risks with substitution clauses?", "How does this substitution clause compare to industry standards or statutory requirements?"], "drafting_tip": "Specify conditions for substitution, require prior written consent, and define qualifications of substitutes to prevent disputes and ensure service quality.", "explanation": "The Substitution clause allows one party to replace a person, product, or service originally specified in the agreement with an alternative that meets agreed-upon standards or requirements. In practice, this might permit a contractor to assign a different qualified worker to a project or allow a supplier to provide a comparable product if the original is unavailable. The core function of this clause is to provide flexibility in fulfilling contractual obligations while ensuring that the substitute is acceptable to the other party, thereby minimizing disruptions and maintaining the integrity of the agreement."}, "json": true, "cursor": ""}}