Substitution definition

Substitution or “substitute” shall mean materials, products, equipment, assemblies, or installation methods deviating in at least one characteristic (physical, functional, or aesthetic) from those specified, but which in the opinion of the bidder would improve competition and/or enhance the finished installation. Acceptance of substitution is subject to the approval of the Designer and owner.

Substitution has the meaning set forth in Section 1.08.

Substitution. The meaning specified in Section 2.14(b).

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.

More Definitions of Substitution

Substitution has the meaning set forth in Section 2.2(a).

Substitution means a replacement for or alternative to an item of material or item identified in the Construction Documents which is proposed by the Trade Contractor and approved in writing by Authority.

Substitution shall have the meaning set forth in Section 3.05(a).

Substitution has the meaning specified in Section 6.2(a).

Substitution means the dispensing of a drug or a brand of drug other than the drug or brand of drug ordered or prescribed.

Substitution has the meaning assigned to that term in Section 2.07(a).

Substitution or “substitute” shall mean materials, products, equipment, assemblies, or installation methods deviating in at least one characteristic (physical, functional, or aesthetic) from those specified, but which in the opinion of the bidder would improve competition and/or enhance the finished installation.