Common use of Collateral for Securities Loans Clause in Contracts

Collateral for Securities Loans. If IBIE initiates a Securities Loan, it will transfer collateral in the form of cash (“Cash Collateral”) to your account with IBIE prior to the close of business on the day that IBIE borrows the Loaned Securities. The amount of Cash Collateral that IBIE will provide upon the initiation of any Securities Loan will be at least equal to the Market Value, based on the prior trading day’s closing price, of the Loaned Securities. On each day during the term of a Securities Loan, IBIE will adjust the amount of Cash Collateral deposited in your account (by withdrawing cash from or transferring cash to your account with IBIE) to ensure that the amount of Cash Collateral therein is not less than the Market Value of the Loaned Securities (valued at the prior trading day’s closing price). If there is more than one Securities Loan outstanding on any day, IBIE will determine the required amount of Cash Collateral on an aggregated or net basis, taking into account the aggregate Market Value of all Loaned Securities and the value of all of the Cash Collateral that it has provided.

Collateral for Securities Loans. If IBIE initiates a Securities Loan, it will transfer collateral in the form of cash (“Cash Collateral”) to your account with IBIE prior to the close of business on the day that IBIE borrows the Loaned Securities. The amount of Cash Collateral that IBIE will provide upon the initiation of any Securities Loan will be at least equal to the Market Value, based on the prior trading day’s closing price, of the Loaned Securities. On each day during the term of a Securities Loan, IBIE will adjust the amount of Cash Collateral deposited in your account (by withdrawing cash from or transferring cash to your account with IBIE) to ensure that the amount of Cash Collateral therein is not less than the Market Value of the Loaned Securities (valued at the prior trading day’s closing price). If there is more than one Securities Loan outstanding on any day, IBIE will determine the required amount of Cash Collateral to be deposited or withdrawn on an aggregated or net basis, taking into account the aggregate Market Value of all Loaned Securities and the value of all of the Cash Collateral that it has provided.