Substitute Asset. On any day, an Eligible Asset that meets each of the conditions for substitution set forth in Section 2.18.
Substitute Asset means an issue of multifamily housing revenue bonds, or senior custodial receipts evidencing a senior ownership interests in such bonds, substituted for an issue of Enhanced Bonds or Enhanced Custodial Receipts pursuant to Section 3.19.
Substitute Asset means any Aircraft Engine or Airframe that is to be substituted for any Removed Asset (as defined in the Asset Purchase Agreement).
Examples of Substitute Asset in a sentence
For example, property received by Controlled in exchange for Relevant Property in a transaction qualifying under section 1031 is a Substitute Asset.
In addition, stock received by Distributing in a distribution qualifying under section 305(a) or section 355(a) on Relevant Stock is a Substitute Asset.
Party A Substitute Asset Payments: Capitalised terms used in this "Party A Substitute Asset Payments" section but not otherwise defined in this Confirmation will have the meanings given to them in the Related Transaction.
Party A Substitute Asset Payment Date: The relevant Substitution Date (as defined in the Related Transaction).
Party B Substitute Asset Payment Date: The relevant Substitution Date (as defined in the Related Transaction).
More Definitions of Substitute Asset
Substitute Asset provided that no such replacement shall occur unless each of the following conditions is satisfied as of the date of such replacement and substitution:
Substitute Asset. Any Asset conveyed, assigned and transferred by the Trust Depositor to the Trust pursuant to Section 2.7 of the Sale and Servicing Agreement or in connection with an Upgrade (and has been acquired by the Trust Depositor from a Seller pursuant to the Sale and Contribution Agreement).
Substitute Asset in relation to any asset, means any other asset capable of performing substantially the same function in relation to a service, hydrocarbon stream or utility, taking into account the asset’s physical capabilities, location and existing uses, the duration and nature of the lease or contract pursuant to which the relevant party to an Interface Agreement (or member of its group) has access (where applicable), and the relevant party’s ability to control the use to which such asset is put;
Substitute Asset shall have the meaning set forth in Section 4.8.
Substitute Asset means (A) cash, (B) a security, loan, or other obligation that is issued, owed, or fully guaranteed by the United States of America or by any political subdivision, agency, or instrumentality of the United States of America whose obligations are fully guaranteed by the United States of America, (C) a federal funds obligation, a certificate of deposit or other time deposit, a bankers acceptance, or an obligation under a repurchase agreement that, in each case, has a maturity not longer than 365 days and is due from a bank whose short-term debt obligations are rated in the highest category by at least one nationally recognized statistical rating organization, (D) a demand deposit that is fully insured by the FDIC, (E) commercial paper that has a maturity not longer than 365 days and that is rated at the time of acquisition in the highest category by at least one nationally recognized statistical rating organization, or (F) an obligation that is due from a money market fund and that is rated at the time of acquisition in the highest category by at least one nationally recognized statistical rating organization.
Substitute Asset. ' means any new Asset delivered in substitution for an existing Asset in accordance with Section 3.10 of the Series CertiÑcate Agreement on a Substitution Date.
Substitute Asset means any 2007-B Equipment, any 2007-B Contract subject thereto and any other Related Assets transferred to the Trust in exchange for an item of 2007-B Equipment, any 2007-B Contract subject thereto and the other Related Assets pursuant to Section 4.2(b) of the Trust Agreement and Section 3.04 of the related Transfer Agreement.