Common use of Appointment of Lending Agent Clause in Contracts

Appointment of Lending Agent. The Client hereby authorizes and appoints the Lending Agent, as the exclusive agent for each Fund to lend U.S. Securities and Foreign Securities (each as hereinafter defined) held by each such Fund to such borrowers as may be selected by the Lending Agent and approved in writing by the Client, for the Program (each a “Borrower”). An entity shall cease to be a Borrower for all purposes upon delivery by Client to Lending Agent of a notice to that effect. In addition, Lending Agent may terminate a Borrower’s status as such at any time. The Lending Agent shall provide the Client with a list of the Borrowers in the Program on at least a quarterly basis; provided, however, that any changes in the status of Borrowers shall be reflected on a revised list of Borrowers which will be provided by Lending Agent to Client promptly upon request. Exhibit B attached hereto lists the Borrowers in the Program as of the date hereof. Lending Agent shall use reasonable efforts to monitor the financial condition of each Borrower.

Appointment of Lending Agent. The Client hereby authorizes and appoints the Lending Agent, as the exclusive agent for each Fund to lend U.S. Securities and Foreign Securities (each as hereinafter defined) held by each such Fund to such borrowers as may be selected by the Lending Agent and approved in writing by the Client, for the Program (each a “Borrower”). An entity shall cease to be a Borrower for all purposes upon delivery by Client to Lending Agent of a notice to that effect. In addition, Lending Agent may terminate a Borrower’s status as such at any time. The Lending Agent shall provide the Client with a list of the Borrowers in the Program on at least a quarterly basis; provided, however, that any changes in the status of Borrowers shall be reflected on a revised list of Borrowers which will be provided by Lending Agent to Client promptly upon request. Exhibit B A attached hereto lists the Borrowers in the Program as of the date hereof. Lending Agent shall use reasonable efforts to monitor the financial condition of each Borrower.