Examples of Substitution in a sentence
The Collateral Manager may direct the Trustee to sell any Collateral Obligation to ORBDCC at any time in connection with an optional purchase or substitution of such Collateral Obligation pursuant to Section 12.3, it being understood that such sales will be subject to the Purchase and Substitution Limit.
In addition to the right to substitute for any Collateral Obligations that become subject to a Substitution Event, ORBDCC shall have the right, but not the obligation, to purchase from the Issuer any Collateral Obligation subject to the Purchase and Substitution Limit at a cash purchase price at least equal to the Fair Market Value of such Collateral Obligation (or applicable portion thereof) as of the date of such purchase, which the Trustee shall deposit into the Collection Account upon receipt.