Substitute Facilities definition
Examples of Substitute Facilities in a sentence
All such repairs, replacements, rebuilding, restoration, relocations and such acquisition of Substitute Facilities made pursuant to this Section, whether or not requiring the expenditure of the Company’s own money or moneys of any other person, shall automatically become a part of the Facility as if the same were specifically described herein.
If, contemporaneously with the Discharge of First Lien Obligations, the Borrower has Replaced one or more First Lien Debt Facilities with one or more First Lien Substitute Facilities in accordance with Section 7.5 then such Discharge of First Lien Obligations shall automatically be deemed not to have occurred for all purposes of this Agreement.
Title to the Substitute Facilities shall be held in the same manner as title to the facilities which they replace.
Following such substitution, the Substitute Facilities shall constitute the Real Property Collateral under the Agreement, and shall be subject to all of the terms, conditions and provisions of the Agreement (as amended hereby).
All such replacements, repairs, rebuilding, restoration, relocations and such acquisition of Substitute Facilities made pursuant to this Section, whether or not requiring the expenditure of the Institution's own money, shall automatically become a part of the Facility as if the same were specifically described herein.
All such replacements, repairs, rebuilding, restoration or relocation or such acquisition of Substitute Facilities made pursuant to this Section 5.3 shall automatically become a part of the Facility.
The further intent of this Section 8.3 is to ensure that facilities initially constructed to serve Export Water or Off-Site Water will, as necessary, be available for service to the L▇▇▇▇ Range if Substitute Facilities are constructed and dedicated to the Export Water or Off-Site Water user as outlined in Sections 8.3(a) and (b).
All such repairs, replacements, rebuilding, restoration, relocations and such acquisition of Substitute Facilities made pursuant to this Section, whether or not requiring the expenditure of the Company's own money or moneys of any other person, shall automatically become a part of the Facility as if the same were specifically described herein.
The Net Proceeds of any award in any Condemnation proceeding shall be paid to the Company and, if required, applied to the payment of the costs of such restoration of the Project Facility or the acquisition of Substitute Facilities.
In the event that such Net Proceeds are not sufficient to pay in full the costs of such restoration of the Equipment or such acquisition of Substitute Facilities, the Company shall be obligated to complete such restoration or acquisition, or to acquire such Substitute Facilities, as applicable, and shall pay from its own monies that portion of the costs thereof in excess of such Net Proceeds of any condemnation award.