Examples of Substitution Event in a sentence
To the extent any cash or other property received by the Issuer from the Transferor in connection with a Substitution Event set forth in Section 2.8 hereof and Section 12.3(a) of the Indenture exceeds the fair market value of the replaced Collateral Obligation, such excess shall be deemed a capital contribution from the Transferor to the Issuer.
In addition to the right to substitute for any Collateral Obligations that become subject to a Substitution Event, the Seller 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.