Substitute Contract definition

Substitute Contract means a Contract that is (a) transferred to the Issuer under Section 2.04 with respect to which a related Substitution Event has occurred with respect to a Contract or Contracts then held in the Contracts Pool and identified in the related Addition Notice and (b) becomes part of the Contracts Pool.
Substitute Contract shall have the meaning set forth in Section 3.04(b) hereof.

Examples of Substitute Contract in a sentence

  • In connection with the substitution of a Contract, if the Discounted Contract Balance of such Substitute Contract is less than the Discounted Contract Balance of the Predecessor Contract, the Contributor shall, on the date of substitution, deposit an amount equal to such difference into the Collection Account.

  • August 22, 2005 – Present 650,000 Ronnie Bozzer (2) (3) (4) Director British Columbia, Canada Mr. Bozzer's legal practice encompasses general commercial law, corporate finance, mergers & acquisitions, project finance and public private partnerships.

  • No proceeds of the sale of any Initial Contract or Substitute Contract hereunder received by the Originator will be used by the Originator to purchase or carry any "margin stock" as such term is defined in Regulation G, T, U or X of the Board of Governors of the Federal Reserve System.

  • As a precondition to any Permitted Substitution, Lender shall have the right to verify the existence and terms of such Substitute Contract with the applicable End-User.

  • All provisions of the Per Diem Substitute Contract apply to building substitutes.


More Definitions of Substitute Contract

Substitute Contract. A Contract substituted by the Depositor or the related Servicer for a Deleted Contract which must, on the date of such substitution, (i) have an outstanding Principal Balance, after deduction of the principal portion of the monthly payment due in the month of substitution (or in the case of a substitution of more than one Contract for a Deleted Contract, an aggregate Principal Balance), not in excess of the Principal Balance of the Deleted Contract [and not less than __% of Principal Balance of the Deleted Contract] (the amount of any shortage will be deposited by the Depositor or the Servicer in the Certificate Account and distributed by the Master Servicer to Certificateholders in the month of substitution); (ii) have an APR not less than the APR of the Deleted Contract but not greater than __% in excess of the APR of the Deleted Contract; (iii) have a remaining term to maturity not greater than ___ years and not more than ___ years less than the remaining term of the Deleted Contract; and (iv) comply with each representation and warranty set forth in Section 2.04 or in the related Warranty Servicing Agreement.
Substitute Contract has the meaning specified in Section 4.02(a) of the Indenture.
Substitute Contract. On any day, an Eligible Contract which meets each of the conditions for substitution set forth in Schedule IV hereto.
Substitute Contract means an Eligible Contract that is added to the pool of Eligible Contracts by the Borrower as a substitute for a Replaceable Contract, in accordance with Sections 11.01(b) and (c) of this Loan Agreement.
Substitute Contract. A Contract substituted by the Servicer in replacement of one or more Contracts of the Issuer pursuant to the terms and provisions of the Transaction Documents.
Substitute Contract. The meaning specified in the Receivables Purchase Agreement.