Common use of Addition and Removal of Accounts Clause in Contracts

Addition and Removal of Accounts. The Account which makes any particular Loan shall be determined in the sole discretion of the Trustee at the time such Loan is made and recorded in the Trustee’s books (which shall be conclusive). The Borrower agrees to accept any loan of securities requested by it from any Account or Accounts listed in Appendix A hereto (except that Borrower may delete one or more Accounts from Appendix A on not less than five Business Days prior notice to the Trustee), and the Trustee shall not be required to notify the Borrower at any time as to which of such Accounts has made or may make any Loan hereunder; provided, however, that the Trustee shall record with respect to each Loan the identity of the lending Account. The Trustee may at any time amend Appendix A hereto to add further trusts and accounts to the list of Accounts set forth therein and to remove Accounts from such list by delivering a copy of the amendment to Appendix A to the Borrower. Any such amendment shall become effective 10 Business Days after the receipt thereof by the Borrower unless the Trustee has theretofore received a written notice from the Borrower objecting to such amendment. Notwithstanding anything contained in this Agreement that may be to the contrary, information concerning both the addition and deletion by Trustee of Account(s) from Appendix A and the acceptance or objection by Borrower to the addition of Account(s) to Appendix A may in each case be communicated by e-mail (with a “return receipt” requested), which e-mail shall be sent (i) by a person who would otherwise be authorized to send the same if it were sent in writing, and (ii) to any person who would otherwise be authorized to receive the same if it were sent in writing.

Appears in 6 contracts

Samples: Securities Lending Agreement, Securities Lending Agreement (JPMorgan Institutional Trust), Securities Lending Agreement (Jpmorgan Trust Ii)

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Addition and Removal of Accounts. The Account which makes any particular Loan shall be determined in the sole discretion of the Trustee at the time such Loan is made and recorded in the Trustee’s 's books (which shall be conclusive). The Borrower agrees to accept any loan of securities requested by it from any Account or Accounts listed in Appendix A hereto (except that Borrower may delete one or more Accounts from Appendix A on not less than five Business Days prior notice to the Trustee), and the Trustee shall not be required to notify the Borrower at any time as to which of such Accounts has made or may make any Loan hereunder; provided, however, that the Trustee shall record with respect to each Loan the identity of the lending Account. The Trustee may at any time amend Appendix A hereto to add further trusts and accounts to the list of Accounts set forth therein and to remove Accounts from such list by delivering a copy of the amendment to Appendix A to the Borrower. Any such amendment shall become effective 10 Business Days after the receipt thereof by the Borrower unless the Trustee has theretofore received a written notice from the Borrower objecting to such amendment. Notwithstanding anything contained in this Agreement that may be to the contrary, information concerning both the addition and deletion by Trustee of Account(s) from Appendix A and the acceptance or objection by Borrower to the addition of Account(s) to Appendix A may in each case be communicated by e-mail (with a "return receipt" requested), which e-mail shall be sent (i) by a person who would otherwise be authorized to send the same if it were sent in writing, and (ii) to any person who would otherwise be authorized to receive the same if it were sent in writing.

Appears in 3 contracts

Samples: Securities Lending Agreement (Jp Morgan Fleming Mutual Fund Group Inc), Securities Lending Agreement (JPMorgan Trust I), Securities Lending Agreement (Jp Morgan Mutual Fund Investment Trust)

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