Substituted Entity definition

Substituted Entity means any person or entity selected by Lenders and approved by TxDOT in accordance with Section 2.6 of the Lenders’ Direct Agreement to perform Developer’s obligations and succeed to Developer’s rights hereunder after any such Lender has acquired the Developer’s Interest by foreclosure or other lawful means or has otherwise assumed possession and control of the Project.
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Substituted Entity has the meaning given to it in the Agreement.
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Substituted Entity means any person or entity selected by Lenders and approved by TxDOT in accordance with Section 2.6 of the Direct Agreement to perform Developer’s obligations and succeed to Developer’s rights hereunder after any such Lender has acquired the Developer’s Interest by foreclosure or other lawful means or has otherwise assumed possession and control of the Project.
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Examples of Substituted Entity in a sentence

  • If the Step-in Party giving the Step-out Notice is a Substituted Entity that is not a Lender, then such Step-in Party shall be released from all obligations under this Direct Agreement arising from and after the effective date contained in the Step-out Notice and its relinquishment of possession and control of the Project.

  • The foregoing does not affect the obligation to obtain approval of persons or entities as Substituted Entities pursuant to Section 21.6 (and the definition of Substituted Entity).

  • The Department shall have no obligation to recognize any claim to Developer’s Interest by any person or entity that has acquired Developer’s Interest by, through, or under any Security Document or whose acquisition shall have been derived immediately from any holder thereof, unless such person or entity is a Substituted Entity reasonably approved by the Department.

  • IFA shall have no obligation to recognize any claim to the Developer’s Interest by any person or entity that has acquired the Developer’s Interest by, through, or under any Security Document or whose acquisition shall have been derived immediately from any holder thereof, unless such person or entity is a Substituted Entity.

  • The Lender shall have the right (but not the obligation) to remedy such Developer Default or cause the same to be remedied by its Substituted Entity as provided in the Direct Agreement; and IFA shall accept such performance by or at the instigation of the Lender or Substituted Entity as if Developer had done the same.

  • The Lenders shall have the right (but not the obligation) to remedy such Developer Default or cause the same to be remedied by a Substituted Entity; and the Department shall deem such performance by or at the instigation of the Lender or Substituted Entity as if the same had been done by Developer as provided in the Direct Agreement.

  • The Department shall permit the Collateral Agent and its Substituted Entity the same access to the Project and Project Right of Way as is permitted to Developer hereunder.

  • The foregoing shall not, however, excuse the Collateral Agent or its Substituted Entity from any obligation to cure prior uncured breaches or failures to perform under the PPA Documents, and except for determination of Persistent Developer Default shall not affect any rights and remedies available to IFA respecting uncured breaches or failures to perform.

  • LAWA shall have no obligation to recognize any claim to Developer’s Interest by any person or entity that has acquired Developer’s Interest by, through, or under any Security Document or whose acquisition shall have been derived immediately from any holder thereof, unless such person or entity is a Substituted Entity reasonably approved by LAWA in accordance with this Section 12.

  • IFA shall permit the Collateral Agent and its Substituted Entity the same access to the Project and Project Right of Way as is permitted to Developer hereunder.


More Definitions of Substituted Entity

Substituted Entity means any Person selected by the Implementing Authority or the Lenders to replace the Concessionaire in this Concession Contract and who has entered into the requisite agreements, all in accordance with Clauses 20.4 or 20.5 hereof;
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Substituted Entity shall have the meaning ascribed to it in Article 3.4;
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Substituted Entity means any Person that is substituted for GEOVIC in its rights and obligations pursuant to this Convention. A Substituted Entity shall be designated and controlled by the Lender, pursuant to its agreements with GEOVIC.
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Substituted Entity has the meaning
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Substituted Entity means any person or entity selected by a Lender to perform the Lender’s or the Association’s obligations and rights after any such Lender has exercised its rights or remedies under the License Agreement or applicable law, which person or entity is subject to SCDOT approval, provided that such approval shall not be unreasonably withheld or delayed after Lender has provided reasonable documentation to SCDOT that such proposed person or entity has the resources and experience reasonably necessary to timely perform Association’s obligations under this License Agreement, which foregoing documentation requirement shall be deemed satisfied if SCDOT is provided with the firm resume or C.V. materials for a reputable, experienced toll operator.
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Substituted Entity means any Person selected by ▇▇▇▇▇▇▇ and approved by MDOT in accordance with the Agreement to perform all or a portion of Project Company’s obligations and succeed to the Project Company’s rights under this Agreement.
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Related to Substituted Entity

  • Substituted Member means a Person that is admitted as a Member to the Company pursuant to Section 12.01.

  • Substituted Limited Partner means a Person who is admitted as a Limited Partner to the Partnership pursuant to Section 11.4.

  • Substituted Specimen means a specimen with laboratory values that are so diminished that they are not consistent with oral fluid and which shall be deemed a violation of this policy, and shall be processed as if the test results were positive.

  • Partnership Subsidiary means (i) any entity of which a majority of the outstanding voting stock or voting power is beneficially owned directly or indirectly by the Partnership, or (ii) any partnership or limited liability company of which 50% or more of the capital and profits interest is owned, directly or indirectly, by the Partnership or by one or more Partnership Subsidiaries or by the Partnership and one or more Partnership Subsidiaries.

  • Project Subsidiary means any Subsidiary of the Company held for the purpose of holding, constructing or acquiring power generation facilities or related or ancillary assets or properties and any Subsidiary of the Company whose assets consist primarily of equity interests in one or more other Project Subsidiaries; provided that a Subsidiary will cease to be a Project Subsidiary if it Guarantees any Indebtedness of the Company other than obligations of the Company related to Project Debt of one or more Project Subsidiaries.