Common use of Action on Termination Clause in Contracts

Action on Termination. It is agreed that: (i) upon receipt of notice of termination, no further loans shall be made hereunder by Lending Agent; and (ii) Lending Agent shall, within a reasonable time after receipt of notice of termination of this Agreement, begin the process of terminating all outstanding loans so that all loaned securities shall be returned to the Participating Funds prior to the effective date of any such termination. The provisions hereof shall continue in full force and effect in all other respects until all loans have been terminated and all obligations satisfied as herein provided.

Action on Termination. It is agreed that: that (ia) upon receipt of notice of termination, no further loans shall be made hereunder by the Lending Agent; Agent and (iib) the Lending Agent shall, within a reasonable time as promptly as possible after receipt of notice of termination of this Agreement, begin the process of terminating terminate any and all outstanding loans so that all loaned securities shall be returned but continue to administer to any outstanding loans as necessary to affect their termination and remit and deliver to the Participating Funds prior Custody Account all securities, earnings and other items due to the effective date of any such terminationClient. The provisions hereof shall continue in full force and effect in all other respects until all loans have been terminated and all obligations satisfied as herein provided.