Substitution Agreement definition

Substitution Agreement means the substitution agreement, substantially in the form set forth in the Schedules as entered into/ proposed to be entered into between the Authority, Developer, and the Lenders in relation to the substitution of the Developer with the Nominated Company in accordance with the Agreement;

Substitution Agreement shall have the meaning set forth in Clause 40.3;

Substitution Agreement is an agreement that may be executed between the Concessionaire, the Authority and the Lenders in the form set out in Schedule 8, pursuant to which, in case of Default by the Concessionaire including any Financial Default, Lenders (through its nominee) shall be allowed to take charge of the Concessionaire’s roles and responsibilities under this Agreement;

Examples of Substitution Agreement in a sentence

• The Substitution Agreement shall be construed and interpreted in accordance with and governed by the laws of India, and the courts in Bhopal shall have exclusive jurisdiction over matters arising out of or relating to this Substitution Agreement.

• The terms of this Substitution Agreement shall prevail in the event of any inconsistencies with the Project Agreements.

• UPPCL and the SPPD hereby irrevocably agree to substitute the SPD with a Selectee, selected by the Lenders in accordance with the provisions of this Substitution Agreement and approved by UPPCL and the SPPD, by amendment of the Project Agreements in favour of the Selectee for the purpose of securing the payments of the Lenders' Dues.

• Notices under this Substitution Agreement shall be sent to the addresses first hereinabove mentioned.

• The capitalised terms not defined herein shall have the meaning ascribed to them in the Project Agreements: Annex means annex to this Substitution Agreement.

More Definitions of Substitution Agreement

Substitution Agreement means the agreement set out in Schedule XI.

Substitution Agreement means the agreement substantially in the form set out at Appendix 3, to be entered into between the Concessioning Authority, the Concessionaire and the Senior Lenders.

Substitution Agreement means as defined in Article 27.3;

Substitution Agreement means the agreement substantially in the form set out at Appendix 3, to be entered into between the Concessioning Authority, the Concessionaire and the Lenders.

Substitution Agreement shall have the meaning set forth in Clause 36.3;“Suspension” shall have the meaning set forth in Clause 32.1;

Substitution Agreement has the meaning assigned to such term in Section 9.11.1.

Substitution Agreement has the meaning assigned to such term in SECTION 9.11.1.