Substitute Item definition

Substitute Item means an item that is the exactly the same. It performs to the same specifications, or better, is the same chemical composition, or of the same physical material, etc. though may be supplied by a different manufacturer. Substitute items may only accepted if allowed for in the bidding documents and then agreed in the contract documents.
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Substitute Item or "Substitute Items" shall have the meaning assigned to such term in Section 4.7 of the Borrower Security Agreement.
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Substitute Item means an item of Pledged Property of substantially similar value and utility to the item of Pledged Property it is intended to replace.
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Examples of Substitute Item in a sentence

  • If in the sole discretion of the Engineer an item of material or equipment proposed by the Contractor does not qualify as an “or-equal” item, it will be considered a proposed Substitute Item.

  • Itemized comparison of the proposed Substitute Item with product specified.

  • Bidder understands that upon award of Contract, all items specified in the Bid Documents shall be furnished unless an "Or-Equal" or "Substitute Item" is accepted by Owner in accordance with the Bid Documents and Contract Documents.

  • Bidder understands that upon award of Contract, all items specified in the Bid Documents shall be furnished unless an "Or-Equal" or "Substitute Item" is accepted by Owner in accordance with Product Requirements and Substitution Procedures, respectively.

  • Proposed substitutions will not be considered unless the Contractor provides all of the required information within the 30 day period.B. Furnish a separate submittal for each proposed Substitute Item.

  • When the offered substitute is unacceptable, transmit a DI DYH SPR Substitute Item Rejection to the ICP.

  • AGREED: That the progress of the Internal Audit Plan of work for 2020/21 be noted.

  • During the term of this contract, Mitigation Services shall be required to pay FWC a minimum annual fee equal to the Base Fee, plus applicable sales tax, in advance on the effective date of the contract and on each subsequent anniversary of the Substitute Page Twenty-six ****************************************************************************** Substitute Item 9, cont.effective date of the contract.

  • The project was reviewed by DEP’s hydrographic engineer who determined that the project met the requisite 96 hour flushing time and on October 8, 2008 stated no objections to the project.2nd Substitute Page Four ****************************************************************************** 2nd Substitute Item 2, cont.NoticingDEP required Gulf Power to publish a “Notice of Application”.

  • No “Or Equal” or Substitute Item will be ordered, installed or utilized without ENGINEER’s prior written acceptance which will be evidenced by either a Change Order or an approved Shop Drawing.

Related to Substitute Item

  • Substitute Check means a paper reproduction of an Item that satisfies the requirements and definition of "substitute check" set forth in Regulation CC.

  • Substitute teacher means a person employed to perform the normal duties of a teacher who is absent.

  • Substitute Loan A mortgage loan substituted for a Deleted Loan pursuant to the terms of this Agreement which must, on the date of such substitution, (i) have an outstanding principal balance, after application of all scheduled payments of principal and interest due during or prior to the month of substitution, not in excess of the Scheduled Principal Balance of the Deleted Loan as of the Due Date in the calendar month during which the substitution occurs, (ii) have a Mortgage Interest Rate not less than (and not more than one percentage point in excess of) the Mortgage Interest Rate of the Deleted Loan, (iii) have a remaining term to maturity not greater than (and not more than one year less than) that of the Deleted Loan, (iv) have the same Due Date as the Due Date on the Deleted Loan, (v) have a Loan-to-Value Ratio as of the date of substitution equal to or lower than the Loan-to-Value Ratio of the Deleted Loan as of such date, (vi) have a risk grading at least equal to the risk grading assigned on the Deleted Loan, (vii) is a “qualified mortgage” as defined in the REMIC Provisions and (viii) conform to each representation and warranty set forth in Section 6 of the Mortgage Loan Purchase Agreement applicable to the Deleted Loan. In the event that one or more mortgage loans are substituted for one or more Deleted Loans, the amounts described in clause (i) hereof shall be determined on the basis of aggregate principal balances, the Mortgage Interest Rates described in clause (ii) hereof shall be determined on the basis of weighted average Mortgage Interest Rates, the terms described in clause (iii) hereof shall be determined on the basis of weighted average remaining term to maturity, the Loan-to-Value Ratios described in clause (v) hereof shall be satisfied as to each such Substitute Loan, the risk gradings described in clause (vi) hereof shall be satisfied as to each such Substitute Loan and, except to the extent otherwise provided in this sentence, the representations and warranties described in clauses (vii) and (viii) hereof must be satisfied as to each Substitute Loan or in the aggregate, as the case may be.

  • Substitute Aircraft Has the meaning specified in the NPA.

  • Substitute care means the out-of-home placement of a child or young adult who is in the legal or physical custody and care of the Department.

  • Substitute Purchaser is defined in Section 21.

  • Substitute Improvements means the substitute or additional improvements of the Issuer described in Article V hereof.

  • Substitute Property shall have the meaning set forth in Section 2.6 hereof.

  • Substitute Lender has the meaning specified in Section 2.18(a).

  • Substitute ballots means replacement ballots provided by an election officer to

  • Substitution Event means, in respect of a Share, any Nationalization, Insolvency or Delisting in respect of such Share, or any Merger Event or Tender Offer in respect of such Share that is deemed by the Calculation Agent to be a Substitution Event, or an occurrence and continuation for at least eight consecutive applicable Exchange Business Days of a Market Disruption Event in respect of such Share.

  • Substitute Mortgage Loan A Mortgage Loan substituted by the Seller for a Deleted Mortgage Loan which must, on the date of such substitution, as confirmed in a Request for Release, substantially in the form of Exhibit L, (i) have a Stated Principal Balance, after deduction of the principal portion of the Scheduled Payment due in the month of substitution, not in excess of, and not more than 10% less than the Stated Principal Balance of the Deleted Mortgage Loan; (ii) have an Adjusted Net Mortgage Rate not lower than the Adjusted Net Mortgage Rate of the Deleted Mortgage Loan, provided that the Master Servicing Fee for the Substitute Mortgage Loan shall be equal to or greater than that of the Deleted Mortgage Loan; (iii) have a maximum mortgage rate not more than 1% per annum higher or lower than the maximum mortgage rate of the Deleted Mortgage Loan; (iv) have a minimum mortgage rate specified in its related Mortgage Note not more than 1% per annum higher or lower than the minimum mortgage rate of the Deleted Mortgage Loan; (v) have the same mortgage index, reset period and periodic rate as the Deleted Mortgage Loan and a gross margin not more than 1% per annum higher or lower than that of the Deleted Mortgage Loan (vi) be accruing interest at a rate no lower than and not more than 1% per annum higher than, that of the Deleted Mortgage Loan; (iv) have a Loan-to-Value Ratio no higher than that of the Deleted Mortgage Loan; (vii) have a remaining term to maturity no greater than (and not more than one year less than that of) the Deleted Mortgage Loan; (viii) not be a Cooperative Loan unless the Deleted Mortgage Loan was a Cooperative Loan and (ix) comply with each representation and warranty set forth in Section 2.3 hereof.

  • Substitute caregiver means any person other than the licensee, resident manager, floating resident manager, or shift caregiver who provides care and services in an adult foster home under the jurisdiction of the Department.

  • Substitute Limited Partner means any Person admitted to the Partnership as a Limited Partner pursuant to Section 9.03 hereof.

  • Substitute LOCKHEED XXXXXX Procurement Representative" for "Contracting Officer", "Administrative Contracting Officer", and "ACO" throughout this clause.

  • Replacement Airframe means any airframe substituted for the Airframe pursuant to Article IV of the Trust Indenture.

  • Substitute Rate shall have the meaning set forth in Section 2.2.3(b).

  • Substitute Servicing Agreement means a servicing agreement that contains servicing provisions which are the same as or more favorable to the Non-Lead Noteholders, in substance, to those in the Servicing Agreement (including, without limitation, all applicable provisions relating to delivery of information and reports necessary for any Non-Lead Securitization to comply with any applicable reporting requirements under the Securities Exchange Act of 1934, as amended) and all references herein to the “Servicing Agreement” shall mean such subsequent servicing agreement; provided, however, that if a Non-Lead Securitization Note is in a Securitization, then a Rating Agency Confirmation shall have been obtained from each Rating Agency with respect to such subsequent servicing agreement.

  • Eligible Substitute Mortgage Loan With respect to a Mortgage Loan substituted by the Transferor for a Deleted Mortgage Loan, a Mortgage Loan which must, on the date of such substitution, (i) have a Principal Balance, (or, in the case of a substitution of more than one mortgage loan for a Deleted Mortgage Loan, an aggregate Principal Balance), not in excess of, and not more than 10% less than the Principal Balance of the Deleted Mortgage Loan; (ii) be accruing interest at a rate no lower than and not more than 1% per annum higher than, that of the Deleted Mortgage Loan; (iii) have a Loan-to-Value Ratio no higher than that of the Deleted Mortgage Loan; (iv) have a remaining term to maturity no greater than (and not more than one year less than that of) the Deleted Mortgage Loan; (v) comply with each representation and warranty set forth in Section 2.03 hereof; (vi) be the same credit grade category as the Deleted Mortgage Loan; (vii) have the same prepayment penalty term; and (viii) not be a Cooperative Mortgage Loan unless the Deleted Mortgage Loan was a Cooperative Mortgage Loan.

  • Substitution Period shall have the meaning set forth in Section 11(a)(iii) hereof.

  • Substitute Basis has the meaning specified in Section 2.9(b).

  • Reconstructed vehicle means every vehicle of a type required to be registered under this title

  • Substitute Member means a Person who is admitted as a Member of the Company pursuant to Section 2.7 as a result of a Transfer of Shares to such Person.

  • Benchmark Replacement Adjustment means, with respect to any replacement of the then-current Benchmark with an Unadjusted Benchmark Replacement for any applicable Interest Period and Available Tenor for any setting of such Unadjusted Benchmark Replacement:

  • Substitute Common Stock means the common stock issued by the issuer of the Substitute Option upon exercise of the Substitute Option.

  • Replacement Price Section 1.51 is amended by (i) adding the phrase “for delivery” immediately before the phrase “at the Delivery Point” in the second line and (ii) deleting the phrase “at Buyer’s option” from the fifth line and replacing it with the phrase “absent a purchase”.