Common use of Completion of Substitution Clause in Contracts

Completion of Substitution. Upon the execution of such documents and compliance with the said requirements, the Substituted Issuer shall be deemed to be named in the Security Documents, the Notes and the other Documents as the principal debtor in place of the Issuer (or of any previous substitute under this Clause) and the Security Documents, the Notes and the other Documents shall thereupon be deemed to be amended in such manner as shall be necessary to give effect to the substitution and without prejudice to the generality of the foregoing any references in the Security Documents, Notes and the other Documents to the Issuer shall be deemed to be references to the Substituted Issuer.