Contractual Currency. 16.1 Borrower and Lender agree that (a) any payment in respect of a Distribution under Section 8 shall be made in the currency in which the underlying Distribution of cash was made, (b) any return of cash shall be made in the currency in which the underlying transfer of cash was made, and (c) any other payment of cash in connection with a Loan under this Agreement shall be in the currency agreed upon by Borrower and Lender in connection with such Loan (the currency established under clause (a), (b) or (c) hereinafter referred to as the “Contractual Currency”). Notwithstanding the foregoing, the payee of any such payment may, at its option, accept tender thereof in any other currency; provided, however, that, to the extent permitted by applicable law, the obligation of the payor to make such payment will be discharged only to the extent of the amount of Contractual Currency that such payee may, consistent with normal banking procedures, purchase with such other currency (after deduction of any premium and costs of exchange) on the banking day next succeeding its receipt of such currency. 16.2 If for any reason the amount in the Contractual Currency received under Section 16.1, including amounts received after conversion of any recovery under any judgment or order expressed in a currency other than the Contractual Currency, falls short of the amount in the Contractual Currency due in respect of this Agreement, the party required to make the payment will (unless a Default has occurred and such party is the non-defaulting party) as a separate and independent obligation and to the extent permitted by applicable law, immediately pay such additional amount in the Contractual Currency as may be necessary to compensate for the shortfall. 16.3 If for any reason the amount in the Contractual Currency received under Section 16.1 exceeds the amount in the Contractual Currency due in respect of this Agreement, then the party receiving the payment will (unless a Default has occurred and such party is the non-defaulting party) refund promptly the amount of such excess.
Appears in 14 contracts
Samples: Master Securities Loan Agreement, Master Securities Loan Agreement, Securities Lending Agreement
Contractual Currency. 16.1 Borrower and Lender agree that (a) any payment in respect of a Distribution under Section 8 shall be made in the currency in which the underlying Distribution of cash was made, (b) any return of cash shall be made in the currency in which the underlying transfer of cash was made, and (c) any other payment of cash in connection with a Loan under this Agreement shall be in the currency agreed upon by Borrower and Lender in connection with such Loan (the currency established under clause (a), (b) or (c) hereinafter referred to as the “"Contractual Currency”"). Notwithstanding the foregoing, the payee of any such payment may, at its option, accept tender thereof in any other currency; provided, however, that, to the extent permitted by applicable law, the obligation of the payor to make such payment will be discharged only to the extent of the amount of Contractual Currency that such payee may, consistent with normal banking procedures, purchase with such other currency (after deduction of any premium and costs of exchange) on the banking day next succeeding its receipt of such currency.
16.2 If for any reason the amount in the Contractual Currency received under Section 16.1, including amounts received after conversion of any recovery under any judgment or order expressed in a currency other than the Contractual Currency, falls short of the amount in the Contractual Currency due in respect of this Agreement, the party required to make the payment will (unless a Default has occurred and such party is the non-defaulting party) as a separate and independent obligation and to the extent permitted by applicable law, immediately pay such additional amount in the Contractual Currency as may be necessary to compensate for the shortfall.
16.3 If for any reason the amount in the Contractual Currency received under Section 16.1 exceeds the amount in the Contractual Currency due in respect of this Agreement, then the party receiving the payment will (unless a Default has occurred and such party is the non-defaulting party) refund promptly the amount of such excess.
Appears in 11 contracts
Samples: Master Securities Loan Agreement (iShares MSCI Russia Capped Index Fund, Inc.), Master Securities Loan Agreement (iSHARES INC), Master Securities Loan Agreement (iSHARES TRUST)
Contractual Currency. 16.1 17.1 Borrower and Lender agree that that: (a) any payment in respect of a Distribution distribution under Section 8 7 shall be made in the currency in which the underlying Distribution distribution of cash was made, ; (b) any return of cash shall be made in the currency in which the underlying transfer of cash was made, made and (c) any other payment of cash in connection with a Loan under this Agreement shall be in the currency agreed upon by Borrower and Lender in connection with such Loan (the currency established under clause (a), (b) or (c) hereinafter referred to as the “"Contractual Currency”"). Notwithstanding the foregoing, the payee of any such payment may, at its option, accept tender thereof in any other currency; provided, however, that, to the extent permitted by applicable law, the obligation of the payor to make such payment will be discharged only to the extent of the amount of Contractual Currency that such payee may, consistent with normal banking procedures, purchase with such other currency (after deduction of any premium and costs of exchange) on the banking day next succeeding its receipt of such currency.
16.2 17.2 If for any reason the amount in the Contractual Currency received under Section 16.117.1, including amounts received after conversion of any recovery under any judgment or order expressed in a currency other than the Contractual Currency, falls short of the amount in the Contractual Currency due in respect of this Agreement, the party required to make the payment will (unless a Default has occurred and such party is the non-defaulting party) as a separate and independent obligation and to the extent permitted by applicable law, immediately pay such additional amount in the Contractual Currency as may be necessary to compensate for the shortfall.
16.3 17.3 If for any reason the amount in the Contractual Currency received under Section 16.1 17.1 exceeds the amount in the Contractual Currency due in respect of this Agreement, then the party receiving the payment will (unless a Default has occurred and such party is the non-defaulting party) refund promptly the amount of such excess.
Appears in 6 contracts
Samples: Securities Lending Agency Agreement (Merrill Lynch Global Technology Fund Inc), Master Securities Loan Agreement (Cooper Industries Inc), Securities Loan Agreement (Amkor Technology Inc)
Contractual Currency. 16.1 Borrower and Lender agree that (a) any payment Unless otherwise mutually agreed, all funds transferred in respect of a Distribution under Section 8 shall be made the Purchase Price or the Repurchase Price in the currency in which the underlying Distribution of cash was made, (b) any return of cash shall be made in the currency in which the underlying transfer of cash was made, and (c) any other payment of cash in connection with a Loan under this Agreement International Transaction shall be in the currency agreed upon by Borrower and Lender in connection with such Loan (the currency established under clause (a), Contractual Currency.
(b) or Notwithstanding subparagraph (ca) hereinafter referred to as the “Contractual Currency”). Notwithstanding the foregoingof this Paragraph 3, the payee of any such payment may, at its option, accept tender thereof in any other currency; provided, however, that, to the extent permitted by applicable law, the obligation of the payor to make such payment will be discharged only to the extent of the amount of the Contractual Currency that such payee may, consistent with normal banking procedures, purchase with such other currency (after deduction of any premium and costs of exchange) on for delivery within the banking day next succeeding its receipt customary delivery period for spot transactions in respect of such the relevant currency.
16.2 (c) If for any reason the amount in the Contractual Currency received under Section 16.1so received, including amounts received after conversion of any recovery under any judgment or order expressed in a currency other than the Contractual Currency, falls short of the amount in the Contractual Currency due in respect of this the Agreement, the party required to make the payment will shall (unless a an Event of Default has occurred and such party is the non-defaulting nondefaulting party) as a separate and independent obligation (which shall not merge with any judgment or any payment or any partial payment or enforcement of payment) and to the extent permitted by applicable law, immediately pay such additional amount in the Contractual Currency as may be necessary to compensate for the shortfall.
16.3 (d) If for any reason the amount in of the Contractual Currency received under Section 16.1 by one party hereto exceeds the amount in the Contractual Currency due such party in respect of this the Agreement, then the party receiving the payment will (unless a an Event of Default has occurred and such party is the non-defaulting nondefaulting party) the party receiving the payment shall refund promptly the amount of such excess.
Appears in 6 contracts
Samples: Master Repurchase Agreement (Five Oaks Investment Corp.), Master Repurchase Agreement (Aether Systems Inc), Master Repurchase Agreement (Aether Systems Inc)
Contractual Currency. 16.1 Borrower and Lender agree that (a) any payment in respect of a Distribution under Section 8 shall be made in the currency in which the underlying Distribution of cash was made, (b) any return of cash shall be made in the currency in which the underlying transfer of cash was made, and (c) any other payment of cash in connection with a Loan under this Agreement shall be in the currency agreed upon by Borrower and Lender in connection with such Loan (the currency established under clause (a), (b) or (c) hereinafter referred to as the “Contractual Currency”). Notwithstanding the foregoing, the payee of any such payment may, at its option, accept tender thereof in any other currency; provided, however, that, to the extent permitted by applicable law, the obligation of the payor to make such payment will be discharged only to the extent of the amount of Contractual Currency that such payee may, consistent with normal banking 2000 Master Securities Loan Agreement• 11 procedures, purchase with such other currency (after deduction of any premium and costs of exchange) on the banking day next succeeding its receipt of such currency.
16.2 If for any reason the amount in the Contractual Currency received under Section 16.1, including amounts received after conversion of any recovery under any judgment or order expressed in a currency other than the Contractual Currency, falls short of the amount in the Contractual Currency due in respect of this Agreement, the party required to make the payment will (unless a Default has occurred and such party is the non-defaulting party) as a separate and independent obligation and to the extent permitted by applicable law, immediately pay such additional amount in the Contractual Currency as may be necessary to compensate for the shortfall.
16.3 If for any reason the amount in the Contractual Currency received under Section 16.1 exceeds the amount in the Contractual Currency due in respect of this Agreement, then the party receiving the payment will (unless a Default has occurred and such party is the non-defaulting party) refund promptly the amount of such excess.
Appears in 5 contracts
Samples: Master Securities Loan Agreement (Ralcorp Holdings Inc /Mo), Master Securities Loan Agreement (Ralcorp Holdings Inc /Mo), Master Securities Loan Agreement (Ralcorp Holdings Inc /Mo)
Contractual Currency. 16.1 14.1. Borrower and Lender agree that (a) any payment in respect of a Distribution under Section 8 shall be made in the currency in which the underlying Distribution of cash was made, (b) any return of cash shall be made in the currency in which the underlying transfer of cash was made, and (c) any other payment of cash in connection with a Loan under this Agreement shall be in the currency agreed upon by Borrower and Lender in connection with such Loan (the currency established under clause (a), (b) or (c) hereinafter referred to as the “Contractual Currency”). Notwithstanding the foregoing, the payee of any such payment may, at its option, accept tender thereof in any other currency; provided, however, that, to the extent permitted by applicable law, the obligation of the payor to make such payment will be discharged only to the extent of the amount of Contractual Currency that such payee may, consistent with normal banking procedures, purchase with such other currency (after deduction of any premium and costs of exchange) on the banking day next succeeding its receipt of such currency.
16.2 14.2. If for any reason the amount in the Contractual Currency received under Section 16.1, including amounts received after conversion of any recovery under any judgment or order expressed in a currency other than the Contractual Currency, falls short of the amount in the Contractual Currency due in respect of this Agreement, the party required to make the payment will (unless a Default has occurred and such party is the non-defaulting party) as a separate and independent obligation and to the extent permitted by applicable law, immediately pay such additional amount in the Contractual Currency as may be necessary to compensate for the shortfall.
16.3 14.3. If for any reason the amount in the Contractual Currency received under Section Section
16.1 exceeds the amount in the Contractual Currency due in respect of this Agreement, then the party receiving the payment will (unless a Default has occurred and such party is the non-defaulting party) refund promptly the amount of such excess.
Appears in 5 contracts
Samples: Master Securities Lending Agreement, Master Securities Lending Agreement, Master Securities Lending Agreement
Contractual Currency. 16.1 17.1 Borrower and Lender agree that that: (a) any payment in respect of a Distribution distribution under Section 8 7 shall be made in the currency in which the underlying Distribution distribution of cash was made, (b) any return of cash shall be made in the currency in which the underlying transfer of cash was made, made and (c) any other payment of cash in connection with a the Loan under this Agreement shall be in the currency agreed upon by Borrower and Lender in connection with such the Loan (the currency established under clause (a), (b) or (c) hereinafter referred to as the “Contractual Currency”"CONTRACTUAL CURRENCY"). Notwithstanding the foregoing, the payee of any such payment may, at its option, accept tender thereof in any other currency; provided, however, that, to the extent permitted by applicable law, the obligation of the payor to make such payment will be discharged only to the extent of the amount of Contractual Currency that such payee may, consistent with normal banking procedures, purchase with such other currency (after deduction of any premium and costs of exchange) on the banking day next succeeding its receipt of such currency.
16.2 17.2 If for any reason the amount in the Contractual Currency received under Section 16.117.1, including amounts received after conversion of any recovery under any judgment or order expressed in a currency other than the Contractual Currency, falls short of is less than the amount in the Contractual Currency due in respect of this Agreement, the party required to make the payment will (unless a Default has occurred and such party is the nonNon-defaulting party) Defaulting Party), as a separate and independent obligation and to the extent permitted by applicable law, immediately pay such additional amount in the Contractual Currency as may be necessary to compensate for the such shortfall.
16.3 17.3 If for any reason the amount in the Contractual Currency received under Section 16.1 17.1 exceeds the amount in the Contractual Currency due in respect of this Agreement, then the party receiving the payment will (unless a Default has occurred and such party is the nonNon-defaulting partyDefaulting Party) refund promptly the amount of such excessexcess to the party that made such payment.
Appears in 4 contracts
Samples: Securities Loan Agreement (UTi WORLDWIDE INC), Securities Loan Agreement (UTi WORLDWIDE INC), Securities Loan Agreement (UTi WORLDWIDE INC)
Contractual Currency. 16.1 15.1. Borrower and Lender agree that (a) any payment in respect of a Distribution under Section 8 shall be made in the currency in which the underlying Distribution of cash was made, (b) any return of cash shall be made in the currency in which the underlying transfer of cash was made, and (c) any other payment of cash in connection with a Loan under this Agreement shall be in the currency agreed upon by Borrower and Lender in connection with such Loan (the currency established under clause (a), (b) or (c) hereinafter referred to as the “Contractual Currency”). Notwithstanding the foregoing, the payee of any such payment may, at its option, accept tender thereof in any other currency; provided, however, that, to the extent permitted by applicable law, the obligation of the payor to make such payment will be discharged only to the extent of the amount of Contractual Currency that such payee may, consistent with normal banking procedures, purchase with such other currency (after deduction of any premium and costs of exchange) on the banking day next succeeding its receipt of such currency.
16.2 15.2. If for any reason the amount in the Contractual Currency received under Section 16.114.1, including amounts received after conversion of any recovery under any judgment or order expressed in a currency other than the Contractual Currency, falls short of the amount in the Contractual Currency due in respect of this Agreement, the party required to make the payment will (unless a Default has occurred and such party is the non-defaulting party) as a separate and independent obligation and to the extent permitted by applicable law, immediately pay such additional amount in the Contractual Currency as may be necessary to compensate for the shortfall.
16.3 15.3. If for any reason the amount in the Contractual Currency received under Section 16.1 14.1 exceeds the amount in the Contractual Currency due in respect of this Agreement, then the party receiving the payment will (unless a Default has occurred and such party is the non-defaulting party) refund promptly the amount of such excess.
Appears in 4 contracts
Samples: Master Securities Lending Agreement, Master Securities Lending Agreement, Master Securities Lending Agreement
Contractual Currency. 16.1 15.1. Borrower and Lender agree that (a) any payment in respect of a Distribution under Section 8 shall be made in the currency in which the underlying Distribution of cash was made, (b) any return of cash shall be made in the currency in which the underlying transfer of cash was made, and (c) any other payment of cash in connection with a Loan under this Agreement shall be in the currency agreed upon by Borrower and Lender in connection with such Loan (the currency established under clause (a), (b) or (c) hereinafter referred to as the “Contractual Currency”). Notwithstanding the foregoing, the payee of any such payment may, at its option, accept tender thereof in any other currency; provided, however, that, to the extent permitted by applicable law, the obligation of the payor to make such payment will be discharged only to the extent of the amount of Contractual Currency that such payee may, consistent with normal banking procedures, purchase with such other currency (after deduction of any premium and costs of exchange) on the banking day next succeeding its receipt of such currency.
16.2 15.2. If for any reason the amount in the Contractual Currency received under Section 16.114.1, including amounts received after conversion of any recovery under any judgment or order expressed in a currency other than the Contractual Currency, falls short of the amount in the Contractual Currency due in respect of this Agreement, the party required to make the payment will (unless a Default has occurred and such party is the non-defaulting party) as a separate and independent obligation and to the extent permitted by applicable law, immediately pay such additional amount in the Contractual Currency as may be necessary to compensate for the shortfall.
16.3 15.3. If for any reason the amount in the Contractual Currency received under Section 16.1 exceeds the amount in the Contractual Currency due in respect of this Agreement, then the party receiving the payment will (unless a Default has occurred and such party is the non-defaulting party) refund promptly the amount of such excess.14.1
Appears in 3 contracts
Samples: Master Securities Lending Agreement, Master Securities Lending Agreement, Master Securities Lending Agreement
Contractual Currency. 16.1 Borrower and Lender agree that (a) any payment Unless otherwise mutually agreed, all funds transferred in respect of a Distribution under Section 8 shall be made the Purchase Price or the Repurchase Price in the currency in which the underlying Distribution of cash was made, (b) any return of cash shall be made in the currency in which the underlying transfer of cash was made, and (c) any other payment of cash in connection with a Loan under this Agreement International Transaction shall be in the currency agreed upon by Borrower and Lender in connection with such Loan (the currency established under clause (a), Contractual Currency.
(b) or Notwithstanding subparagraph (ca) hereinafter referred to as the “Contractual Currency”). Notwithstanding the foregoingof this Paragraph 3, the payee of any such payment may, at its option, accept tender thereof in any other currency; provided, however, that, to the extent permitted by applicable law, the obligation of the payor to make such payment will be discharged only to the extent of the amount of the Contractual Currency that such payee may, consistent with normal banking procedures, purchase with such other currency (after deduction of any premium and costs of exchange) on for delivery within the banking day next succeeding its receipt customary delivery period for spot transactions in respect of such the relevant currency.
16.2 (c) If for any reason the amount in the Contractual Currency received under Section 16.1so received, including amounts received after conversion of any recovery under any judgment or order expressed in a currency other than the Contractual Currency, falls short of the amount in the Contractual Currency due in respect of this the Agreement, the party required to make the payment will shall (unless a an Event of Default has occurred and such party is the non-defaulting nondefaulting party) as a separate and independent obligation (which shall not merge with any judgment or any payment or any partial payment or enforcement of payment) and to the extent permitted by applicable law, immediately pay such additional amount in the Contractual Currency as may be necessary to compensate for the shortfall.
16.3 (d) If for any reason the amount in of the Contractual Currency received under Section 16.1 by one party hereto exceeds the amount in the Contractual Currency due such party in respect of this the Agreement, then the party receiving the payment will (unless a an Event of Default has occurred and such party is the non-defaulting nondefaulting party) the party receiving the payment shall refund promptly the amount of such excess.
Appears in 3 contracts
Samples: Master Repurchase Agreement (Aether Systems Inc), Master Repurchase Agreement (Aether Systems Inc), Master Repurchase Agreement (Aether Systems Inc)
Contractual Currency. 16.1 17.1 Borrower and Lender agree that that: (a) any payment in respect of a Distribution distribution under Section 8 7 shall be made in the currency in which the underlying Distribution distribution of cash was made, ; (b) any return of cash shall be made in the currency in which the underlying transfer of cash was made, made and (c) any other payment of cash in connection with a Loan under this Agreement shall be in the currency agreed upon by Borrower and Lender in connection with such Loan (the currency established under clause (a), (b) or (c) hereinafter referred to as the “"Contractual Currency”"). Notwithstanding the foregoing, the payee of any such payment may, at its option, accept tender thereof in any other currency; provided, however, that, to the extent permitted by applicable law, the obligation of the payor to make such payment will be discharged only to the extent of the amount of Contractual Currency that such payee may, consistent with normal banking procedures, purchase with such other currency (after deduction of any premium and costs of exchange) on the banking day next succeeding its receipt of such currency.. 12 - May 1993 - Master Securities Loan Agreement
16.2 17.2 If for any reason the amount in the Contractual Currency received under Section 16.117.1, including amounts received after conversion of any recovery under any judgment or order expressed in a currency other than the Contractual Currency, falls short of the amount in the Contractual Currency due in respect of this Agreement, the party required to make the payment will (unless a Default has occurred and such party is the non-defaulting party) as a separate and independent obligation and to the extent permitted by applicable law, immediately pay such additional amount in the Contractual Currency as may be necessary to compensate for the shortfall.
16.3 17.3 If for any reason the amount in the Contractual Currency received under Section 16.1 17.1 exceeds the amount in the Contractual Currency due in respect of this Agreement, then the party receiving the payment will (unless a Default has occurred and such party is the non-defaulting party) refund promptly the amount of such excess.
Appears in 3 contracts
Samples: Securities Lending Management Agreement (American Aadvantage Funds), Securities Lending Management Agreement (American Aadvantage Funds), Securities Lending Management Agreement (American Aadvantage Funds)
Contractual Currency. 16.1 Borrower and Lender agree that (a) any payment in respect of a Distribution under Section 8 shall be made in the currency in which the underlying Distribution of cash was made, (b) any return of cash shall be made in the currency in which the underlying transfer of cash was made, and (c) any other payment of cash in connection with a Loan under this Agreement shall be in the currency agreed upon by Borrower and Lender in connection with such Loan (the currency established under clause (a), (b) or (c) hereinafter referred to as the “Contractual Currency”). Notwithstanding the foregoing, the payee of any such payment may, at its option, accept tender thereof in any other currency; provided, however, that, to the extent permitted by applicable law, ,the obligation of the payor to make such payment will be discharged only to the extent of the amount of Contractual Currency that such payee may, consistent with normal banking procedures, purchase with such other currency (after deduction of any premium and costs of exchange) on the banking day next succeeding its receipt of such currency.
16.2 If for any reason the amount in the Contractual Currency received under Section 16.1, including amounts received after conversion of any recovery under any judgment or order expressed in a currency other than the Contractual Currency, falls short of the amount in the Contractual Currency due in respect of this Agreement, the party required to make the payment will (unless a Default has occurred and such party is the non-defaulting party) as a separate and independent obligation and to the extent permitted by applicable law, immediately pay such additional amount in the Contractual Currency as may be necessary to compensate for the shortfall.
16.3 If for any reason the amount in the Contractual Currency received under Section 16.1 exceeds the amount in the Contractual Currency due in respect of this Agreement, then the party receiving the payment will (unless a Default has occurred and such party is the non-defaulting party) refund promptly the amount of such excess.
Appears in 2 contracts
Samples: Securities Lending Agreement, Securities Lending Agreement
Contractual Currency. 16.1 17.1 Borrower and Lender agree that that: (a) any payment in respect of a Distribution distribution under Section 8 7 shall be made in the currency in which the underlying Distribution distribution of cash was made, ; (b) any return of cash shall be made in the currency in which the underlying transfer of cash was made, made and (c) any other payment of cash in connection with a Loan under this Agreement shall be in the currency agreed upon by Borrower and Lender in connection with such Loan (the currency established under clause (a), (b) or (c) hereinafter referred to as the “"Contractual Currency”"). Notwithstanding the foregoing, the payee of any such payment may, at its option, accept tender thereof in any other currency; provided, however, that, to the extent permitted by applicable law, the obligation of the payor to make such payment will be discharged only to the extent of the amount of Contractual Currency that such payee may, consistent with normal banking procedures, purchase with such other currency (after deduction of any premium and costs of exchange) on the banking day next succeeding its receipt of such currency.
16.2 17.2 If for any reason the amount in the Contractual Currency received under Section 16.117.1, including amounts received after conversion of any recovery under any judgment or order expressed in a currency other than the Contractual Currency, falls short of the amount in the Contractual Currency due in respect of this Agreement, the party required to make the payment will (unless a Default has occurred and such party is the non-defaulting party) as a separate and independent obligation and to the extent permitted by applicable law, immediately pay such additional amount in the Contractual Currency as may be necessary to compensate for the shortfall.
16.3 17.3 If for any reason the amount in the Contractual Currency received under Section 16.1 17.1 exceeds the amount in the Contractual Currency due in respect of this Agreement, then the party receiving the payment will (unless a Default has occurred and such party is the non-defaulting nondefaulting party) refund promptly the amount of such excess.
Appears in 2 contracts
Samples: Master Securities Loan Agreement (Tribune Co), Master Securities Loan Agreement (Tribune Co)
Contractual Currency. 16.1 Borrower and Lender agree that (a) any payment All the payments made in respect of a Distribution under Section 8 the Purchase Price or the Repurchase Price of any Transaction shall be made in the currency in which of the underlying Distribution of cash was made, (b) any return of cash shall be made in the currency in which the underlying transfer of cash was made, and (c) any other payment of cash in connection with a Loan under this Agreement shall be in the currency agreed upon by Borrower and Lender in connection with such Loan Purchase Price (the currency established under clause (a), (b) or (c) hereinafter referred to as the “"Contractual Currency”") save as provided in paragraph 10(c)(ii). Notwithstanding the foregoing, the payee of any such payment money may, at its option, accept tender thereof in any other currency; , provided, however, that, to the extent permitted by applicable law, the obligation of the payor payer to make pay such payment money will be discharged only to the extent of the amount of the Contractual Currency that such payee may, consistent with normal banking procedures, purchase with such other currency (after deduction of any premium and costs of exchange) on for delivery within the banking day next succeeding its receipt customary delivery period for spot transactions in respect of such the relevant currency.
16.2 (b) If for any reason the amount in the Contractual Currency received under Section 16.1by a party, including amounts received after conversion of any recovery under any judgment or THE BOND [LOGO] MARKET ASSOCIATION I S M A order expressed in a currency other than the Contractual Currency, falls short of the amount in the Contractual Currency due in respect of this Agreementand payable, the party required to make the payment will (unless a Default has occurred and such party is the non-defaulting party) will, as a separate and independent obligation and obligation, to the extent permitted by applicable law, immediately pay transfer such additional amount in the Contractual Currency as may be necessary to compensate for the shortfall.
16.3 (c) If for any reason the amount in the Contractual Currency received under Section 16.1 by a party exceeds the amount in of the Contractual Currency due in respect of this Agreementand payable, then the party receiving the payment transfer will (unless a Default has occurred and such party is the non-defaulting party) refund promptly the amount of such excess.
Appears in 2 contracts
Samples: Global Master Repurchase Agreement (New Century Financial Corp), Global Master Repurchase Agreement (New Century Financial Corp)
Contractual Currency. 16.1 Borrower and Lender agree that (a) any payment Unless otherwise mutually agreed, all funds transferred in respect of a Distribution under Section 8 shall be made the Purchase Price or the Repurchase Price in the currency in which the underlying Distribution of cash was made, (b) any return of cash shall be made in the currency in which the underlying transfer of cash was made, and (c) any other payment of cash in connection with a Loan under this Agreement International Transaction shall be in the currency agreed upon by Borrower and Lender in connection with such Loan (the currency established under clause (a), Contractual Currency.
(b) or Notwithstanding subparagraph (ca) hereinafter referred to as the “Contractual Currency”). Notwithstanding the foregoingof this Paragraph 3, the payee of any such payment may, at its option, accept tender thereof in any other currency; provided, however, that, to the extent permitted by applicable law, the obligation of the payor to make such payment will be discharged only to the extent of the amount of the Contractual Currency that such payee may, consistent with normal banking procedures, purchase with such other currency (after deduction of any premium and costs of exchange) on for delivery within the banking day next succeeding its receipt customary delivery period for spot transactions in respect of such the relevant currency.
16.2 (c) If for any reason the amount in the Contractual Currency received under Section 16.1so received, including amounts received after conversion of any recovery under any judgment or order expressed in a currency other than the Contractual Currency, falls short of the amount in the Contractual Currency due in respect of this the Agreement, the party required to make the payment will shall (unless a an Event of Default has occurred and such party is the non-defaulting nondefaulting party) as a separate and independent obligation (which shall not merge with any judgment or any payment or any partial payment or enforcement of payment) and to the extent permitted by applicable law, immediately pay such additional amount in the Contractual Currency as may be necessary to compensate for the shortfall.
16.3 (d) If for any reason the amount in of the Contractual Currency received under Section 16.1 by one party hereto exceeds the amount in the Contractual Currency due such party in respect of this the Agreement, then the party receiving the payment will (unless a an Event of Default has occurred and such party is the non-defaulting party) the party receiving the payment shall refund promptly the amount of such excess.
Appears in 2 contracts
Samples: Master Repurchase Agreement (GSC Capital Corp), Master Repurchase Agreement (Taberna Realty Finance Trust)
Contractual Currency. 16.1 15.1. Borrower and Lender agree that (a) any payment in respect of a Distribution under Section 8 shall be made in the currency in which the underlying Distribution of cash was made, (b) any return of cash shall be made in the currency in which the underlying transfer of cash was made, and (c) any other payment of cash in connection with a Loan under this Agreement shall be in the currency agreed upon by Borrower and Lender in connection with such Loan (the currency established under clause (a), (b) or (c) hereinafter referred to as the “Contractual Currency”). Notwithstanding the foregoing, the payee of any such payment may, at its option, accept tender thereof in any other currency; provided, however, that, to the extent permitted by applicable law, the obligation of the payor to make such payment will be discharged only to the extent of the amount of Contractual Currency that such payee may, consistent with normal banking procedures, purchase with such other currency (after deduction of any premium and costs of exchange) on the banking day next succeeding its receipt of such currency.
16.2 15.2. If for any reason the amount in the Contractual Currency received under Section 16.115.1, including amounts received after conversion of any recovery under any judgment or order expressed in a currency other than the Contractual Currency, falls short of the amount in the Contractual Currency due in respect of this Agreement, the party required to make the payment will (unless a Default has occurred and such party is the non-defaulting party) as a separate and independent obligation and to the extent permitted by applicable law, immediately pay such additional amount in the Contractual Currency as may be necessary to compensate for the shortfall.
16.3 15.3. If for any reason the amount in the Contractual Currency received under Section 16.1 Section
15.1 exceeds the amount in the Contractual Currency due in respect of this Agreement, then the party receiving the payment will (unless a Default has occurred and such party is the non-defaulting party) refund promptly the amount of such excess.
Appears in 2 contracts
Samples: Master Securities Lending Agreement, Master Securities Lending Agreement
Contractual Currency. 16.1 Borrower and Lender agree that (a) any payment in respect of a Distribution under Section 8 shall be made in the currency in which the underlying Distribution of cash was made, (b) any return of cash shall be made in the currency in which the underlying transfer of cash was made, and (c) any other payment of cash in connection with a Loan under this Agreement shall be in the currency agreed upon by Borrower and Lender in connection with such Loan (the currency established under clause (a), (b) or (c) hereinafter referred to as the “"Contractual Currency”"). Notwithstanding the foregoing, the payee of any such payment may, at its option, accept tender thereof in any other currency; provided, however, that, to the extent permitted by applicable law, the obligation of the payor to make such payment will be discharged only to the extent of the amount of Contractual Currency that such payee may, consistent with normal banking 2000 Master Securities Loan Agreement-11 procedures, purchase with such other currency (after deduction of any premium and costs of exchange) on the banking day next succeeding its receipt of such currency.
16.2 If for any reason the amount in the Contractual Currency received under Section 16.1, including amounts received after conversion of any recovery under any judgment or order expressed in a currency other than the Contractual Currency, falls short of the amount in the Contractual Currency due in respect of this Agreement, the party required to make the payment will (unless a Default has occurred and such party is the non-defaulting party) as a separate and independent obligation and to the extent permitted by applicable law, immediately pay such additional amount in the Contractual Currency as may be necessary to compensate for the shortfall.
16.3 If for any reason the amount in the Contractual Currency received under Section 16.1 exceeds the amount in the Contractual Currency due in respect of this Agreement, then the party receiving the payment will (unless a Default has occurred and such party is the non-defaulting party) refund promptly the amount of such excess.
Appears in 2 contracts
Samples: Securities Lending Agency Agreement (Barclays Global Investors Funds), Securities Lending Agency Agreement (Master Investment Portfolio)
Contractual Currency. 16.1 15.1. Borrower and Lender agree that (a) any payment in respect of a Distribution under Section 8 shall be made in the currency in which the underlying Distribution of cash was made, (b) any return of cash shall be made in the currency in which the underlying transfer of cash was made, and (c) any other payment of cash in connection with a Loan under this Agreement shall be in the currency agreed upon by Borrower and Lender in connection with such Loan (the currency established under clause (a), (b) or (c) hereinafter referred to as the “Contractual Currency”). Notwithstanding the foregoing, the payee of any such payment may, at its option, accept tender thereof in any other currency; provided, however, that, to the extent permitted by applicable law, the obligation of the payor to make such payment will be discharged only to the extent of the amount of Contractual Currency that such payee may, consistent with normal banking procedures, purchase with such other currency (after deduction of any premium and costs of exchange) on the banking day next succeeding its receipt of such currency.
16.2 15.2. If for any reason the amount in the Contractual Currency received under Section 16.114.1, including amounts received after conversion of any recovery under any judgment or order expressed in a currency other than the Contractual Currency, falls short of the amount in the Contractual Currency due in respect of this Agreement, the party required to make the payment will (unless a Default has occurred and such party is the non-defaulting party) as a separate and independent obligation and to the extent permitted by applicable law, immediately pay such additional amount in the Contractual Currency as may be necessary to compensate for the shortfall.
16.3 15.3. If for any reason the amount in the Contractual Currency received under Section 16.1 14.1 exceeds the amount in the Contractual Currency due in respect of this Agreement, then the party receiving the payment will (unless a Default has occurred and such party is the non-non- defaulting party) refund promptly the amount of such excess.
Appears in 2 contracts
Samples: Master Securities Lending Agreement, Master Securities Lending Agreement
Contractual Currency. 16.1 Borrower CF and Lender agree that (a) any payment in respect of a Distribution under Section 8 shall be made in the currency in which the underlying Distribution of cash was made, (b) any return of cash shall be made in the currency in which the underlying transfer of cash was made, and (c) any other payment of cash in connection with a Loan under this Agreement shall be in the currency agreed upon by Borrower CF and Lender in connection with such Loan (the currency established under clause (a), (b) or (c) hereinafter referred to as the “"Contractual Currency”"). Notwithstanding the foregoing, the payee Payee of any such payment may, at its option, accept tender thereof in any other currency; provided, however, that, to the extent permitted by applicable law, the obligation of the payor Payor to make such payment will be discharged only to the extent of the amount of Contractual Currency that such payee may, consistent with normal banking procedures, purchase with such other currency (after deduction of any premium and costs of exchange) on the banking day next succeeding its receipt of such currency.
16.2 If for any reason the amount in the Contractual Currency received under Section 16.1, including amounts received after conversion of any recovery under any judgment or order expressed in a currency other than the Contractual Currency, falls short of the amount in the Contractual Currency due in respect of this Agreement, the party required to make the payment will (unless a Default has occurred and such party is the non-defaulting party) as a separate and independent obligation and to the extent permitted by applicable law, immediately pay such additional amount in the Contractual Currency as may be necessary to compensate for the shortfall.
16.3 If for any reason the amount in the Contractual Currency received under Section 16.1 exceeds the amount in the Contractual Currency due in respect of this Agreement, then the party receiving the payment will (unless a Default has occurred and such party is the non-defaulting party) refund promptly the amount of such excess.
Appears in 2 contracts
Samples: Share Lending Agreement, Share Lending Agreement (Auris Medical Holding AG)
Contractual Currency. 16.1 17.1 Borrower and Lender Agent agree that that: (a) any payment in respect of a Distribution distribution under Section 8 7 shall be made in the currency in which the underlying Distribution distribution of cash was made, ; (b) any return of cash shall be made in the currency in which the underlying transfer of cash was made, ; and (c) any other payment of cash in connection with a Loan under this Agreement shall be in the currency agreed upon by Borrower and Lender Agent in connection with such Loan (the currency established under clause (a), (b) or (c) hereinafter referred to as the “"Contractual Currency”"). Notwithstanding the foregoing, the payee of any such payment may, at its option, accept tender thereof in any other currency; provided, however, however that, to the extent permitted by applicable law, the obligation of the payor to make such payment will be discharged only to the extent of the amount of Contractual Currency that such payee may, consistent with normal banking procedures, purchase with such other currency (after deduction of any premium and costs of exchange) on the banking day next succeeding its receipt of such currency.
16.2 17.2 If for any reason the amount in the Contractual Currency received under Section 16.117.1, including amounts received after conversion of any recovery under any judgment or order expressed in a currency other than the Contractual Currency, falls short of the amount in the Contractual Currency due in respect of this Agreement, the party required to make the payment will (unless a Default has occurred and such party is the non-defaulting party) as a separate and independent obligation and to the extent permitted by applicable law, immediately pay such additional amount in the Contractual Currency as may be necessary to compensate for the shortfall.
16.3 17.3 If for any reason the amount in the Contractual Currency received under Section 16.1 17.1 exceeds the amount in the Contractual Currency due in respect of this Agreement, then the party receiving the payment will (unless a Default has occurred and such party is the non-defaulting party) refund promptly the amount of such excess.
Appears in 2 contracts
Samples: Securities Lending Agency Agreement (Heartland Group Inc), Securities Lending Agency Agreement (Japan Fund Inc)
Contractual Currency. 16.1 Borrower and Lender agree that (a) any payment Unless otherwise mutually agreed, all funds transferred in respect of a Distribution under Section 8 shall be made the Purchase Price or the Repurchase Price in the currency in which the underlying Distribution of cash was made, (b) any return of cash shall be made in the currency in which the underlying transfer of cash was made, and (c) any other payment of cash in connection with a Loan under this Agreement International Transaction shall be in the currency agreed upon by Borrower and Lender in connection with such Loan (the currency established under clause (a), Contractual Currency.
(b) or Notwithstanding subparagraph (ca) hereinafter referred to as the “Contractual Currency”). Notwithstanding the foregoingof this Paragraph 3, the payee of any such payment may, at its option, accept tender thereof in any other currency; provided, however, that, to the extent permitted by applicable law, the obligation of the payor to make such payment will be discharged only to the extent of the amount of the Contractual Currency that such payee may, consistent with normal banking procedures, purchase with such other currency (after deduction of any premium and costs of exchange) on for delivery within the banking day next succeeding its receipt customary delivery period for spot transactions in respect of such the relevant currency.
16.2 (c) If for any reason the amount in the Contractual Currency received under Section 16.1so received, including amounts received after conversion of any recovery under any judgment or order expressed in a currency other than the Contractual Currency, falls short of the amount in the Contractual Currency due in respect of this the Agreement, the party required to make the payment will shall (unless a an Event of Default has occurred and such party is the non-defaulting nondefaulting party) as a separate and independent obligation (which shall not merge with any judgment or any payment or any partial payment or enforcement of payment) and to the extent permitted by September 1996 Master Repurchase Agreement 15 applicable law, immediately pay such additional amount in the Contractual Currency as may be necessary to compensate for the shortfall.
16.3 (d) If for any reason the amount in of the Contractual Currency received under Section 16.1 by one party hereto exceeds the amount in the Contractual Currency due such party in respect of this the Agreement, then the party receiving the payment will (unless a an Event of Default has occurred and such party is the non-defaulting nondefaulting party) the party receiving the payment shall refund promptly the amount of such excess.
Appears in 2 contracts
Samples: Master Repurchase Agreement (Taberna Realty Finance Trust), Master Repurchase Agreement (Taberna Realty Finance Trust)
Contractual Currency. 16.1 17.1 Borrower and Lender agree that that: (a) any payment in respect of a Distribution distribution under Section 8 7 shall be made in the currency in which the underlying Distribution distribution of cash was made, ; (b) any return of cash shall be made in the currency in which the underlying transfer of cash was made, made and (c) any other payment of cash in connection with a Loan under this Agreement shall be in the currency agreed upon by Borrower and Lender in connection with such Loan (the currency established under clause (a), (b) or (c) hereinafter referred to as the “"Contractual Currency”"). Notwithstanding the foregoing, the payee of any such payment may, at its option, accept tender thereof in any other currency; : provided, however, that, to the extent permitted by applicable law, . the obligation of the payor to make such payment will be discharged only to the extent of the amount of Contractual Currency that such payee may, consistent with normal banking procedures, purchase with such other currency (after deduction of any premium and costs of exchange) on the banking day next succeeding its receipt of such currency.
16.2 17.2 If for any reason the amount in the Contractual Currency received under Section 16.117.1, including amounts received after conversion of any recovery under any judgment or order expressed in a currency other than the Contractual Currency, falls short of the amount in the Contractual Currency due in respect of this Agreement, the party required to make the payment will (unless a Default has occurred and such party is the non-defaulting party) as a separate and independent obligation and to the extent permitted by applicable law, immediately pay such additional amount in the Contractual Currency as may be necessary to compensate for the shortfall.
16.3 17.3 If for any reason the amount in the Contractual Currency received under Section 16.1 17.1 exceeds the amount in the Contractual Currency due in respect of this Agreement, then the party receiving the payment will (unless a Default has occurred and such party is the non-defaulting party) refund promptly the amount of such excess.
Appears in 1 contract
Contractual Currency. 16.1 Borrower and Lender agree that (a) any payment in respect of a Distribution under Section 8 shall be made in the currency in which the underlying Distribution of cash was made, (b) any return of cash shall be made in the currency in which the underlying transfer of cash was made, and (c) any other payment of cash in connection with a Loan under this Agreement shall be in the currency agreed upon by Borrower and Lender in connection with such Loan (the currency established under clause (a), (b) or (c) hereinafter referred to as the “"Contractual Currency”"). Notwithstanding the foregoing, the payee of any such payment may, at its option, accept tender thereof in any other currency; provided, however, that, to the extent permitted by applicable law, the obligation of the payor to make such payment will be discharged only to the extent of the amount of Contractual Currency that such payee may, consistent with normal banking 12 procedures, purchase with such other currency (after deduction of any premium and costs of exchange) on the banking day next succeeding its receipt of such currency.
16.2 If for any reason the amount in the Contractual Currency received under Section 16.1, including amounts received after conversion of any recovery under any judgment or order expressed in a currency other than the Contractual Currency, falls short of the amount in the Contractual Currency due in respect of this Agreement, the party required to make the payment will (unless a Default has occurred and such party is the non-defaulting party) as a separate and independent obligation and to the extent permitted by applicable law, immediately pay such additional amount in the Contractual Currency as may be necessary to compensate for the shortfall.
16.3 If for any reason the amount in the Contractual Currency received under Section 16.1 exceeds the amount in the Contractual Currency due in respect of this Agreement, then the party receiving the payment will (unless a Default has occurred and such party is the non-defaulting party) refund promptly the amount of such excess.
Appears in 1 contract
Samples: Master Securities Loan Agreement (Thermo Electron Corp)
Contractual Currency. 16.1 15.1. Borrower and Lender agree that (a) any payment in respect of a Distribution under Section 8 shall be made in the currency in which the underlying Distribution of cash was made, (b) any return of cash shall be made in the currency in which the underlying transfer of cash was made, and (c) any other payment of cash in connection with a Loan under this Agreement shall be in the currency agreed upon by Borrower and Lender in connection with such Loan (the currency established under clause (a), (b) or (c) hereinafter referred to as the “Contractual Currency”). Notwithstanding the foregoing, the payee of any such payment may, at its option, accept tender thereof in any other currency; provided, however, that, to the extent permitted by applicable law, the obligation of the payor to make such payment will be discharged only to the extent of the amount of Contractual Currency that such payee may, consistent with normal banking procedures, purchase with such other currency (after deduction of any premium and costs of exchange) on the banking day next succeeding its receipt of such currency.
16.2 15.2. If for any reason the amount in the Contractual Currency received under Section 16.115.1, including amounts received after conversion of any recovery under any judgment or order expressed in a currency other than the Contractual Currency, falls short of the amount in the Contractual Currency due in respect of this Agreement, the party required to make the payment will (unless a Default has occurred and such party is the non-defaulting party) as a separate and independent obligation and to the extent permitted by applicable law, immediately pay such additional amount in the Contractual Currency as may be necessary to compensate for the shortfall.
16.3 15.3. If for any reason the amount in the Contractual Currency received under Section 16.1 15.1 exceeds the amount in the Contractual Currency due in respect of this Agreement, then the party receiving the payment will (unless a Default has occurred and such party is the non-defaulting party) refund promptly the amount of such excess.
Appears in 1 contract
Samples: Master Securities Lending Agreement
Contractual Currency. 16.1 Borrower and Lender agree that (a) any payment Unless otherwise mutually agreed, all funds transferred in respect of a Distribution under Section 8 shall be made the Purchase Price or the Repurchase Price in the currency in which the underlying Distribution of cash was made, (b) any return of cash shall be made in the currency in which the underlying transfer of cash was made, and (c) any other payment of cash in connection with a Loan under this Agreement International Transaction shall be in the currency agreed upon by Borrower and Lender in connection with such Loan (the currency established under clause (a), Contractual Currency.
(b) or Notwithstanding subparagraph (ca) hereinafter referred to as the “Contractual Currency”). Notwithstanding the foregoingof this Paragraph 3, the payee of any such payment may, at its option, accept tender thereof in any other currency; provided, however, that, to the extent permitted by applicable law, the obligation of the payor to make such payment will be discharged only to the extent of the amount of the Contractual Currency that such payee may, consistent with normal banking procedures, purchase with such other currency (after deduction of any premium and costs of exchange) on for delivery within the banking day next succeeding its receipt customary delivery period for spot transactions in respect of such the relevant currency.
16.2 (c) If for any reason the amount in the Contractual Currency received under Section 16.1so received, including amounts received after conversion of any recovery under any judgment or order expressed in a currency other than the Contractual Currency, falls short of the amount in the Contractual Currency due in respect of this the Agreement, the party required to make the payment will shall (unless a an Event of Default has occurred and such party is the non-defaulting nondefaulting party) as a separate and independent obligation (which shall not merge with any judgment or any payment or any partial payment or enforcement of payment) and to the extent permitted by applicable law, immediately pay such additional amount in the Contractual Currency as may be necessary to compensate for the shortfall.. 18 § September 1996 § Master Repurchase Agreement
16.3 (d) If for any reason the amount in of the Contractual Currency received under Section 16.1 by one party hereto exceeds the amount in the Contractual Currency due such party in respect of this the Agreement, then the party receiving the payment will (unless a an Event of Default has occurred and such party is the non-defaulting party) the party receiving the payment shall refund promptly the amount of such excess.
Appears in 1 contract
Samples: Master Repurchase Agreement (Provident Mortgage Capital Associates, Inc.)
Contractual Currency. 16.1 Borrower and Lender agree that (a) any payment Unless otherwise mutually agreed, all funds transferred in respect of a Distribution under Section 8 shall be made the Purchase Price or the Repurchase Price in the currency in which the underlying Distribution of cash was made, (b) any return of cash shall be made in the currency in which the underlying transfer of cash was made, and (c) any other payment of cash in connection with a Loan under this Agreement International Transaction shall be in the currency agreed upon by Borrower and Lender in connection with such Loan (the currency established under clause (a), Contractual Currency.
(b) or Notwithstanding subparagraph (ca) hereinafter referred to as the “Contractual Currency”). Notwithstanding the foregoingof this Paragraph 3, the payee of any such payment may, at its option, accept tender thereof in any other currency; provided, however, that, to the extent permitted by applicable law, the obligation of the payor to make such payment will be discharged only to the extent of the amount of the Contractual Currency that such payee may, consistent with normal banking procedures, purchase with such other currency curren- cy (after deduction of any premium and costs of exchange) on for delivery within the banking day next succeeding its receipt cus- tomary delivery period for spot transactions in respect of such the relevant currency.
16.2 (c) If for any reason the amount in the Contractual Currency received under Section 16.1so received, including amounts received after conversion of any recovery under any judgment or order expressed in a currency other than the Contractual Currency, falls short of the amount in the Contractual Currency due in respect of this the Agreement, the party required to make the payment will shall (unless a an Event of Default has occurred and such party is the non-defaulting nondefault- ing party) as a separate and independent obligation (which shall not merge with any judgment or any payment or any partial payment or enforcement of payment) and to the extent permitted by applicable law, immediately pay such additional amount in the Contractual Currency as may be necessary to compensate for the shortfall.
16.3 (d) If for any reason the amount in of the Contractual Currency received under Section 16.1 by one party hereto exceeds the amount in the Contractual Currency due such party in respect of this the Agreement, then the party receiving the payment will (unless a an Event of Default has occurred and such party is the non-defaulting nonde- faulting party) the party receiving the payment shall refund promptly the amount of such s uch excess.
Appears in 1 contract
Samples: Master Repurchase Agreement
Contractual Currency. 16.1 Borrower and Lender agree that (a) any payment Unless otherwise mutually agreed, all funds transferred in respect of a Distribution under Section 8 shall be made the Purchase Price or the Repurchase Price in the currency in which the underlying Distribution of cash was made, (b) any return of cash shall be made in the currency in which the underlying transfer of cash was made, and (c) any other payment of cash in connection with a Loan under this Agreement International Transaction shall be in the currency agreed upon by Borrower and Lender in connection with such Loan (the currency established under clause (a), Contractual Currency.
(b) or Notwithstanding subparagraph (ca) hereinafter referred to as the “Contractual Currency”). Notwithstanding the foregoingof this Paragraph 3, the payee of any such payment may, at its option, accept tender thereof in any other currency; provided, however, that, to the extent permitted by applicable law, the obligation of the payor to make such payment will be discharged only to the extent of the amount of the Contractual Currency that such payee may, consistent with normal banking procedures, purchase with such other currency curren- cy (after deduction of any premium and costs of exchange) on for delivery within the banking day next succeeding its receipt cus- tomary delivery period for spot transactions in respect of such the relevant currency.
16.2 (c) If for any reason the amount in the Contractual Currency received under Section 16.1so received, including amounts received after conversion of any recovery under any judgment or order expressed in a currency other than the Contractual Currency, falls short of the amount in the Contractual Currency due in respect of this the Agreement, the party required to make the payment will shall (unless a an Event of Default has occurred and such party is the non-defaulting nondefault- ing party) as a separate and independent obligation (which shall not merge with any judgment or any payment or any partial payment or enforcement of payment) and to the extent permitted by applicable law, immediately pay such additional amount in the Contractual Currency as may be necessary to compensate for the shortfall.
16.3 (d) If for any reason the amount in of the Contractual Currency received under Section 16.1 by one party hereto exceeds the amount in the Contractual Currency due such party in respect of this the Agreement, then the party receiving the payment will (unless a an Event of Default has occurred and such party is the non-defaulting nonde- faulting party) the party receiving the payment shall refund promptly the amount of such excess.
Appears in 1 contract
Samples: Master Repurchase Agreement
Contractual Currency. 16.1 17.1 Borrower and Lender agree that that: (a) any payment in respect of a Distribution distribution under Section 8 7 shall be made in the currency in which the underlying Distribution distribution of cash was made, ; (b) any return of cash shall be made in the currency in which the underlying transfer of cash was made, made and (c) any other payment of cash in connection with a Loan under this Agreement shall be in the currency agreed upon by Borrower and Lender in connection with such Loan (the currency established under clause (a), (b) or (c) hereinafter referred to as the “"Contractual Currency”"). Notwithstanding the foregoing, the payee of any such payment may, at its option, accept tender thereof in any other currency; provided, however, that, to the extent permitted by applicable law, the obligation of the payor to make such payment will be discharged only to the extent of the amount of Contractual Currency that such payee may, consistent with normal banking procedures, purchase with such other currency (after deduction of any premium and costs of exchange) on the banking day next succeeding its receipt of such currency.. May 1993 Master Securities Loan Agreement 12
16.2 17.2 If for any reason the amount in the Contractual Currency received under Section 16.117.1, including amounts received after conversion of any recovery under any judgment or order expressed in a currency other than the Contractual Currency, falls short of the amount in the Contractual Currency due in respect of this Agreement, the party required to make the payment will (unless a Default has occurred and such party is the non-defaulting party) as a separate and independent obligation and to the extent permitted by applicable law, immediately pay such additional amount in the Contractual Currency as may be necessary to compensate for the shortfall.
16.3 17.3 If for any reason the amount in the Contractual Currency received under Section 16.1 17.1 exceeds the amount in the Contractual Currency due in respect of this Agreement, then the party receiving the payment will (unless a Default has occurred and such party is the non-defaulting party) refund promptly the amount of such excess.
Appears in 1 contract
Samples: Securities Lending Agency Agreement (Merrill Lynch Ready Assets Trust)
Contractual Currency. 16.1 1. Borrower and Lender agree that (a) any payment in respect of a Distribution under Section 8 shall be made in the currency in which the underlying Distribution of cash was made, (b) any return of cash shall be made in the currency in which the underlying transfer of cash was made, and (c) any other payment of cash in connection with a Loan under this Agreement shall be in the currency agreed upon by Borrower and Lender in connection with such Loan (the currency established under clause (a), (b) or (c) hereinafter referred to as the “"Contractual Currency”"). Notwithstanding the foregoing, the payee of any such payment may, at its option, accept tender thereof in any other currency; provided, however, that, to the extent permitted by applicable law, the obligation of the payor to make such payment will be discharged only to the extent of the amount of Contractual Currency that such payee may, consistent with normal banking procedures, purchase with such other currency (after deduction of any premium and costs of exchange) on the banking day next succeeding its receipt of such currency.
16.2 2. If for any reason the amount in the Contractual Currency received under Section 16.114.1, including amounts received after conversion of any recovery under any judgment or order expressed in a currency other than the Contractual Currency, falls short of the amount in the Contractual Currency due in respect of this Agreement, the party required to make the payment will (unless a Default has occurred and such party is the non-defaulting party) as a separate and independent obligation and to the extent permitted by applicable law, immediately pay such additional amount in the Contractual Currency as may be necessary to compensate for the shortfall.
16.3 3. If for any reason the amount in the Contractual Currency received under Section 16.1 Section
14.1 exceeds the amount in the Contractual Currency due in respect of this Agreement, then the party receiving the payment will (unless a Default has occurred and such party is the non-non- defaulting party) refund promptly the amount of such excess.
Appears in 1 contract
Samples: Master Securities Lending Agreement
Contractual Currency. 16.1 17.1 Borrower and Lender agree that that: (a) any payment in respect of a Distribution distribution under Section 8 7 shall be made in the currency in which the underlying Distribution distribution of cash was made, ; (b) any return of cash shall be made in the currency in which the underlying transfer of cash was made, made and (c) any other payment of cash in connection with a Loan under this Agreement shall be in the currency agreed upon by Borrower and Lender in connection with such Loan (the currency established under clause (a), (b) or (c) hereinafter referred to as the “"Contractual Currency”"). Notwithstanding the foregoing, the payee of any such payment may, at its option, accept tender thereof in any other currency; provided, however, that, to the extent permitted by applicable law, the obligation of the payor to make such payment will be discharged only to the extent of the amount of Contractual Currency that such payee may, consistent with normal banking procedures, purchase with such other currency (after deduction of any premium and costs of exchange) on the banking day next succeeding its receipt of such currency.
16.2 17.2 If for any reason the amount in the Contractual Currency received under Section 16.117.1, including amounts received after conversion of any recovery under any judgment or order expressed in a currency other than the Contractual Currency, falls short of the amount in the Contractual Currency due in respect of this Agreement, the party required to make the payment will (unless a Default has occurred and such party is the non-defaulting party) as a separate and independent obligation and to the extent permitted by applicable law, immediately pay such additional amount in the Contractual Currency as may be necessary to compensate for the shortfall.
16.3 17.3 If for any reason the amount in the Contractual Currency received under Section 16.1 17.1 exceeds the amount in the Contractual Currency due in respect of this Agreement, then the party receiving the payment will (unless a Default has occurred and such party is the non-defaulting party) refund promptly the amount of such excess.. May 1993 - Master Securities Loan Agreement - 13
Appears in 1 contract
Samples: Master Securities Loan Agreement (Pain Therapeutics Inc)
Contractual Currency. 16.1 1. Borrower and Lender agree that (a) any payment in respect of a Distribution under Section 8 shall be made in the currency in which the underlying Distribution of cash was made, (b) any return of cash shall be made in the currency in which the underlying transfer of cash was made, and (c) any other payment of cash in connection with a Loan under this Agreement shall be in the currency agreed upon by Borrower and Lender in connection with such Loan (the currency established under clause (a), (b) or (c) hereinafter referred to as the “"Contractual Currency”"). Notwithstanding the foregoing, the payee of any such payment may, at its option, accept tender thereof in any other currency; provided, however, that, to the extent permitted by applicable law, the obligation of the payor to make such payment will be discharged only to the extent of the amount of Contractual Currency that such payee may, consistent with normal banking procedures, purchase with such other currency (after deduction of any premium and costs of exchange) on the banking day next succeeding its receipt of such currency.
16.2 2. If for any reason the amount in the Contractual Currency received under Section 16.1, including amounts received after conversion of any recovery under any judgment or order expressed in a currency other than the Contractual Currency, falls short of the amount in the Contractual Currency due in respect of this Agreement, the party required to make the payment will (unless a Default has occurred and such party is the non-defaulting party) as a separate and independent obligation and to the extent permitted by applicable law, immediately pay such additional amount in the Contractual Currency as may be necessary to compensate for the shortfall.
16.3 3. If for any reason the amount in the Contractual Currency received under Section 16.1 exceeds the amount in the Contractual Currency due in respect of this Agreement, then the party receiving the payment will (unless a Default has occurred and such party is the non-defaulting party) refund promptly the amount of such excess.
Appears in 1 contract
Samples: Master Securities Lending Agreement
Contractual Currency. 16.1 16.1. Borrower and Lender agree that (a) any payment in respect of a Distribution under Section 8 shall be made in the currency in which the underlying Distribution of cash was made, (b) any return of cash shall be made in the currency in which the underlying transfer of cash was made, and (c) any other payment of cash in connection with a Loan under this Agreement MSLA shall be in the currency agreed upon by Borrower and Lender in connection with such Loan (the currency established under clause (aclause(a), (b) or (c) hereinafter referred to as the “"Contractual Currency”"). Notwithstanding the foregoing, the payee of any such payment may, at its option, accept tender thereof in any other currency; provided, however, that, to the extent permitted by applicable law, the obligation of the payor to make such payment will be discharged only to the extent of the amount of Contractual Currency that such payee may, consistent with normal banking procedures, purchase with such other currency (after deduction of any premium and costs of exchange) on the banking day next succeeding its receipt of such currency.
16.2 16.2. If for any reason the amount in the Contractual Currency received under Section 16.1, including amounts received after conversion of any recovery under any judgment or order expressed in a currency other than the Contractual Currency, falls short of the amount in the Contractual Currency due in respect of this AgreementMSLA, the party required to make the payment will (unless a Default has occurred and such party is the non-non- defaulting party) as a separate and independent obligation and to the extent permitted by applicable law, immediately pay such additional amount in the Contractual Currency as may be necessary to compensate for the shortfall.
16.3 16.3. If for any reason the amount in the Contractual Currency received under Section 16.1 exceeds the amount in the Contractual Currency due in respect of this AgreementMSLA, then the party receiving the payment will (unless a Default has occurred and such party is the non-defaulting party) refund promptly the amount of such excess.
Appears in 1 contract
Samples: Master Securities Lending Agreement
Contractual Currency. 16.1 17.1 Borrower and Lender agree that that: (a) any payment in respect of a Distribution distribution under Section 8 7 shall be made in the currency in which the underlying Distribution distribution of cash was made, ; (b) any return of cash shall be made in the currency in which the underlying transfer of cash was made, made and (c) any other payment of cash in connection with a Loan under this Agreement shall be in the currency agreed upon by Borrower and Lender in connection with such Loan (the currency established under clause (a), (b) or (c) hereinafter referred to as the “"Contractual Currency”"). Notwithstanding the foregoing, the payee of any such payment may, at its option, accept tender thereof in any other currency; provided, however, that, to the extent permitted by applicable law, the -------- ------- obligation of the payor to make such payment will be discharged only to the extent of the amount of Contractual Currency that such payee may, consistent with normal banking procedures, purchase with such other currency (after deduction of any premium and costs of exchange) on the banking day next succeeding its receipt of such currency.
16.2 17.2 If for any reason the amount in the Contractual Currency received under Section 16.117.1, including amounts received after conversion of any recovery under any judgment or order expressed in a currency other than the Contractual Currency, falls short of the amount in the Contractual Currency due in respect of this Agreement, the party required to make the payment will (unless a Default has occurred and such party is the non-defaulting party) as a separate and independent obligation and to the extent permitted by applicable law, immediately pay such additional amount in the Contractual Currency as may be necessary to compensate for the shortfall.
16.3 17.3 If for any reason the amount in the Contractual Currency received under Section 16.1 17.1 exceeds the amount in the Contractual Currency due in respect of this Agreement, then the party receiving the payment will (unless a Default has occurred and such party is the non-defaulting party) refund promptly the amount of such excess.
Appears in 1 contract
Samples: Master Securities Loan Agreement (Artisan Components Inc)
Contractual Currency. 16.1 Borrower and Lender agree that (a) any payment Unless otherwise mutually agreed, all funds transferred in respect of a Distribution under Section 8 shall be made the Purchase Price or the Repurchase Price in the currency in which the underlying Distribution of cash was made, (b) any return of cash shall be made in the currency in which the underlying transfer of cash was made, and (c) any other payment of cash in connection with a Loan under this Agreement International Transaction shall be in the currency agreed upon by Borrower and Lender in connection with such Loan (the currency established under clause (a), Contractual Currency.
(b) or Nothwithstanding subparagraph (ca) hereinafter referred to as the “Contractual Currency”). Notwithstanding the foregoingof this Paragraph 3, the payee of any such payment may, at its option, accept tender thereof in any other currency; provided, however, that, to the extent permitted by applicable law, the obligation of the payor to make such payment will be discharged discharge only to the extent of the amount of the Contractual Currency that such payee may, consistent with normal banking procedures, purchase with such other currency (after deduction of any premium and costs of exchange) on for delivery within the banking day next succeeding its receipt customary delivery period for spot transactions in respect of such the relevant currency.
16.2 (c) If for any reason the amount in the Contractual Currency received under Section 16.1so received, including amounts received after conversion of any recovery under any judgment or order expressed in a currency other than the Contractual Currency, falls short of the amount in the Contractual Currency due in respect of this the Agreement, the party required to make the payment will shall (unless a an Event of Default has occurred and such party is the non-defaulting nondefaulting party) as a separate and independent obligation (which shall not merge with any judgment or any payment or any partial payment or enforcement of payment) and to the extent permitted by applicable law, immediately pay such additional amount in the Contractual Currency as may be necessary to compensate for the shortfall.
16.3 (d) If for any reason the amount in of the Contractual Currency received under Section 16.1 by one party hereto exceeds the amount in the Contractual Currency due such party in respect of this the Agreement, then the party receiving the payment will (unless a an Event of Default has occurred and such party is the non-defaulting nondefaulting party) the party receiving the payment shall refund promptly the amount of such excess.
Appears in 1 contract
Samples: Supplement and Amendment to Annex 1 a of the Master Repurchase Agreement (LNR Property Corp)
Contractual Currency. 16.1 Borrower and Lender Lenders agree that (a) any payment in respect of a Distribution under Section 8 shall be made in the currency in which the underlying Distribution of cash was made, (b) any return of cash shall be made in the currency in which the underlying transfer of cash was made, and (c) any other payment of cash in connection with a Loan under this Agreement shall be in the currency agreed upon by Borrower and Lender Lenders in connection with such Loan (the currency established under clause (a), (b) or (c) hereinafter referred to as the “Contractual Currency”). Notwithstanding the foregoing, the payee of any such payment may, at its option, accept tender thereof in any other currency; provided, however, that, to the extent permitted by applicable law, the obligation of the payor to make such payment will be discharged only to the extent of the amount of Contractual Currency that such payee may, consistent with normal banking procedures, purchase with such other currency (after deduction of any premium and costs of exchange) on the banking day next succeeding its receipt of such currency.
16.2 If for any reason the amount in the Contractual Currency received under Section 16.1, including amounts received after conversion of any recovery under any judgment or order expressed in a currency other than the Contractual Currency, falls short of the amount in the Contractual Currency due in respect of this Agreement, the party required to make the payment will (unless a Default has occurred and such party is the non-defaulting party) as a separate and independent obligation and to the extent permitted by applicable law, immediately pay such additional amount in the Contractual Currency as may be necessary to compensate for the shortfall.
16.3 If for any reason the amount in the Contractual Currency received under Section 16.1 exceeds the amount in the Contractual Currency due in respect of this Agreement, then the party receiving the payment will (unless a Default has occurred and such party is the non-defaulting party) refund promptly the amount of such excess.
Appears in 1 contract
Samples: Master Securities Loan Agreement (Nova Biosource Fuels, Inc.)
Contractual Currency. 16.1 Borrower and Lender agree that (a) any payment Unless otherwise mutually agreed, all funds transferred in respect of a Distribution under Section 8 shall be made the Purchase Price or the Repurchase Price in the currency in which the underlying Distribution of cash was made, (b) any return of cash shall be made in the currency in which the underlying transfer of cash was made, and (c) any other payment of cash in connection with a Loan under this Agreement International Transaction shall be in the currency agreed upon by Borrower and Lender in connection with such Loan (the currency established under clause (a), Contractual Currency.
(b) or Notwithstanding subparagraph (ca) hereinafter referred to as the “Contractual Currency”). Notwithstanding the foregoingof this Paragraph 3, the payee of any such payment may, at its option, accept tender thereof in any other currency; provided, however, that, to the extent permitted by applicable law, the obligation of the payor to make such payment will be discharged discharge only to the extent of the amount of the Contractual Currency that such payee may, consistent with normal banking procedures, purchase with such other currency (after deduction of any premium and costs of exchange) on for delivery within the banking day next succeeding its receipt customary delivery period for spot transactions in respect of such the relevant currency.
16.2 (c) If for any reason the amount in the Contractual Currency received under Section 16.1so received, including amounts received after conversion of any recovery under any judgment or order expressed in a currency other than the Contractual Currency, falls short of the amount in the Contractual Currency due in respect of this the Agreement, the party required to make the payment will shall (unless a an Event of Default has occurred and such party is the non-defaulting nondefaulting party) as a separate and independent obligation (which shall not merge with any judgment or any payment or any partial payment or enforcement of payment) and to the extent permitted by applicable law, immediately pay such additional amount in the Contractual Currency as may be necessary to compensate for the shortfall.
16.3 (d) If for any reason the amount in of the Contractual Currency received under Section 16.1 by one party hereto exceeds the amount in the Contractual Currency due such party in respect of this the Agreement, then the party receiving the payment will (unless a an Event of Default has occurred and such party is the non-defaulting nondefaulting party) the party receiving the payment shall refund promptly the amount of such excess.
Appears in 1 contract
Samples: Master Repurchase Agreement (Amresco Capital Trust)
Contractual Currency. 16.1 Borrower Wedbush and Lender you agree that (a) any payment in respect of a Distribution distribution under Section 8 this Agreement shall be made in the currency in which the underlying Distribution distribution of cash was made, (b) any return of cash shall be made in the currency in which the underlying transfer of cash was made, and (c) any other payment of cash in connection with a Loan loan under this Agreement shall be in the currency agreed upon by Borrower Wedbush and Lender you in connection with such Loan loan (the currency established under clause (a), (b) or (c) hereinafter referred to as the “Contractual Currency”). Notwithstanding the foregoing, the payee of any such payment may, at its option, accept tender thereof in any other currency; provided, however, that, to the extent permitted by applicable law, the obligation of the payor to make such payment will be discharged only to the extent of the amount of Contractual Currency that such payee may, consistent with normal banking procedures, purchase with such other currency (after deduction of any premium and costs of exchange) on the banking day next succeeding its receipt of such currency.
16.2 . If for any reason the amount in the Contractual Currency received under Section 16.1received, including amounts received after conversion of any recovery under any judgment or order expressed in a currency other than the Contractual Currency, falls short of the amount in the Contractual Currency due in respect of this Agreement, the party required to make the payment will (unless a Default has occurred and such party is the non-defaulting party) as a separate and independent obligation and to the extent permitted by applicable law, immediately pay such additional amount in the Contractual Currency as may be necessary to compensate for the shortfall.
16.3 . If for any reason the amount in the Contractual Currency received under Section 16.1 exceeds the amount in the Contractual Currency due in respect of this Agreement, then the party receiving the payment will (unless a Default has occurred and such party is the non-defaulting party) refund promptly the amount of such excess.
Appears in 1 contract
Samples: Fully Paid Securities Lending Agreement (ETF Managers Trust)
Contractual Currency. 16.1 Borrower and Lender agree that (a) any payment in respect of a Distribution under Section 8 shall be made in the currency in which the underlying Distribution of cash was made, (b) any return of cash shall be made in the currency in which the underlying transfer of cash was made, and (c) any other payment of cash in connection with a Loan under this Agreement shall be in the currency agreed upon by Borrower and Lender in connection with such Loan (the currency established under clause (a), (b) or (c) hereinafter referred to as the “"Contractual Currency”"). Notwithstanding the foregoing, the payee of any such payment may, at its option, accept tender thereof in any other currency; , provided, however, that, to the extent permitted by applicable law, the obligation of the payor to make such payment will be discharged only to the extent of the amount of Contractual Currency that such payee may, consistent with normal banking procedures, purchase with such other currency (after deduction of any premium and costs of exchange) on the banking day next succeeding its receipt of such currency.
16.2 If for any reason the amount in the Contractual Currency received under Section 16.1, including amounts received after conversion of any recovery under any judgment or order expressed in a currency other than the Contractual Currency, falls short of the amount in the Contractual Currency due in respect of this Agreement, the party required to make the payment will (unless a Default has occurred and such party is the non-defaulting party) as a separate and independent obligation and to the extent permitted by applicable law, immediately pay such additional amount in the Contractual Currency as may be necessary to compensate for the shortfall.
16.3 If for any reason the amount in the Contractual Currency received under Section 16.1 exceeds the amount in the Contractual Currency due in respect of this Agreement, then the party receiving the payment will (unless a Default has occurred and such party is the non-defaulting party) refund promptly the amount of such excess.
Appears in 1 contract
Samples: Master Securities Loan Agreement (Thermo Electron Corp)
Contractual Currency. 16.1 16.1. Borrower and Lender agree that (a) any payment in respect of a Distribution under Section 8 shall be made in the currency in which the underlying Distribution of cash was made, (b) any return of cash shall be made in the currency in which the underlying transfer of cash was made, and (c) any other payment of cash in connection with a Loan under this Agreement shall be in the currency agreed upon by Borrower and Lender in connection with such Loan (the currency established under clause (a), (b) or (c) hereinafter referred to as the “"Contractual Currency”"). Notwithstanding the foregoing, the payee of any such payment may, at its option, accept tender thereof in any other currency; provided, however, that, to the extent permitted by applicable law, the obligation of the payor to make such payment will be discharged only to the extent of the amount of Contractual Currency that such payee may, consistent with normal banking procedures, purchase with such other currency (after deduction of any premium and costs of exchange) on the banking day next succeeding its receipt of such currency.
16.2 16.2. If for any reason the amount in the Contractual Currency received under Section 16.1, including amounts received after conversion of any recovery under any judgment or order expressed in a currency other than the Contractual Currency, falls short of the amount in the Contractual Currency due in respect of this Agreement, the party required to make the payment will (unless a Default has occurred and such party is the non-defaulting nondefaulting party) as a separate and independent obligation and to the extent permitted by applicable law, immediately pay such additional amount in the Contractual Currency as may be necessary to compensate for the shortfall.
16.3 16.3. If for any reason the amount in the Contractual Currency received under Section 16.1 exceeds the amount in the Contractual Currency due in respect of this Agreement, then the party receiving the payment will (unless a Default has occurred and such party is the non-defaulting party) refund promptly the amount of such excess.
Appears in 1 contract
Samples: Master Securities Lending Agreement
Contractual Currency. 16.1 Borrower and Lender agree that (a) any payment in respect of a Distribution under Section 8 shall be made in the currency in which the underlying Distribution of cash was made, (b) any return of cash shall be made in the currency in which the underlying transfer of cash was made, and (c) any other payment of cash in connection with a Loan under this Agreement shall be in the currency agreed upon by Borrower and Lender in connection with such Loan (the currency established under clause (a), (b) or (c) hereinafter referred to as the “Contractual Currency”). Notwithstanding the foregoing, the payee of any such payment may, at its option, accept tender thereof in any other currency; provided, however, that, to the extent permitted by applicable law, the obligation of the payor to make such payment will be discharged only to the extent of the amount of Contractual Currency that such payee may, consistent with normal banking procedures, purchase with such other currency (after deduction of any premium and costs of exchange) on the banking day next succeeding its receipt of such currency.
. 16.2 If for any reason the amount in the Contractual Currency received under Section 16.1, including amounts received after conversion of any recovery under any judgment or order expressed in a currency other than the Contractual Currency, falls short of the amount in the Contractual Currency due in respect of this Agreement, the party required to make the payment will (unless a Default has occurred and such party is the non-non- defaulting party) as a separate and independent obligation and to the extent permitted by applicable law, immediately pay such additional amount in the Contractual Currency as may be necessary to compensate for the shortfall.
16.3 If for any reason the amount in the Contractual Currency received under Section 16.1 exceeds the amount in the Contractual Currency due in respect of this Agreement, then the party receiving the payment will (unless a Default has occurred and such party is the non-defaulting party) refund promptly the amount of such excess.
Appears in 1 contract
Samples: Client Agreement
Contractual Currency. 16.1 15.1. Borrower and Lender agree that (a) any payment in respect of a Distribution under Section 8 shall be made in the currency in which the underlying Distribution of cash was made, (b) any return of cash shall be made in the currency in which the underlying transfer of cash was made, and (c) any other payment of cash in connection with a Loan under this Agreement shall be in the currency agreed upon by Borrower and Lender in connection with such Loan (the currency established under clause (a), (b) or (c) hereinafter referred to as the “Contractual Currency”). Notwithstanding the foregoing, the payee of any such payment may, at its option, accept tender thereof in any other currency; provided, however, that, to the extent permitted by applicable law, the obligation of the payor to make such payment will be discharged only to the extent of the amount of Contractual Currency that such payee may, consistent with normal banking procedures, purchase with such other currency (after deduction of any premium and costs of exchange) on the banking day next succeeding its receipt of such currency.
16.2 15.2. If for any reason the amount in the Contractual Currency received under Section 16.114.1, including amounts received after conversion of any recovery under any judgment or order expressed in a currency other than the Contractual Currency, falls short of the amount in the Contractual Currency due in respect of this Agreement, the party required to make the payment will (unless a Default has occurred and such party is the non-defaulting party) as a separate and independent obligation and to the extent permitted by applicable law, immediately pay such additional amount in the Contractual Currency as may be necessary to compensate for the shortfall.the
16.3 15.3. If for any reason the amount in the Contractual Currency received under Section 16.1 14.1 exceeds the amount in the Contractual Currency due in respect of this Agreement, then the party receiving the payment will (unless a Default has occurred and such party is the non-defaulting party) refund promptly the amount of such excess.
Appears in 1 contract
Samples: Master Securities Lending Agreement
Contractual Currency. 16.1 17.1 Borrower and Lender agree that that: (a) any payment in respect of a Distribution distribution under Section 8 7 shall be made in the currency in which the underlying Distribution distribution of cash was made, ; (b) any return of cash shall be made in the currency in which the underlying transfer of cash was made, made and (c) any other payment of cash in connection with a Loan under this Agreement shall be in the currency agreed upon by Borrower and Lender in connection with such Loan (the currency established under clause (a), (b) or (c) hereinafter referred to as the “"Contractual Currency”"). Notwithstanding the foregoing, the payee of any such payment may, at its option, accept tender thereof in any other currency; providedPROVIDED, howeverHOWEVER, that, to the extent permitted by applicable law, the obligation of the payor to make such payment will be discharged only to the extent of the amount of Contractual Currency that such payee may, consistent with normal banking procedures, purchase with such other currency (after deduction of any premium and costs of exchange) on the banking day next succeeding its receipt of such currency.
16.2 17.2 If for any reason the amount in the Contractual Currency received under Section 16.117.1, including amounts received after conversion of any recovery under any judgment or order expressed in a currency other than the Contractual Currency, falls short of the amount in the Contractual Currency due in respect of this Agreement, the party required to make the payment will (unless a Default has occurred and such party is the non-defaulting party) as a separate and independent obligation and to the extent permitted by applicable law, immediately pay such additional amount in the Contractual Currency as may be necessary to compensate for the shortfall.
16.3 17.3 If for any reason the amount in the Contractual Currency received under Section 16.1 17.1 exceeds the amount in the Contractual Currency due in respect of this Agreement, then the party receiving the payment will (unless a Default has occurred and such party is the non-defaulting party) refund promptly the amount of such excess.
Appears in 1 contract
Samples: Securities Lending Agreement (One Group Investment Trust)
Contractual Currency. 16.1 Borrower and Lender agree that (a) any payment Unless otherwise mutually agreed, all funds transferred in respect of a Distribution under Section 8 shall be made the Purchase Price or the Repurchase Price in the currency in which the underlying Distribution of cash was made, (b) any return of cash shall be made in the currency in which the underlying transfer of cash was made, and (c) any other payment of cash in connection with a Loan under this Agreement International Transaction shall be in the currency agreed upon by Borrower and Lender in connection with such Loan (the currency established under clause (a), Contractual Currency.
(b) or Notwithstanding subparagraph (ca) hereinafter referred to as the “Contractual Currency”). Notwithstanding the foregoingof this Paragraph 3, the payee of any such payment may, at its option, accept tender thereof in any other currency; provided, however, that, to the extent permitted by applicable law, the obligation of the payor to make such payment will be discharged only to the extent of the amount of the Contractual Currency that such payee may, consistent with normal banking procedures, purchase with such other currency (after deduction of any premium and costs of exchange) on for delivery within the banking day next succeeding its receipt customary delivery period for spot transactions in respect of such the relevant currency.
16.2 (c) If for any reason the amount in the Contractual Currency received under Section 16.1so received, including amounts received after conversion of any recovery under any judgment or order expressed in a currency other than the Contractual Currency, falls short of the amount in the Contractual Currency due in respect of this the Agreement, the party required to make the payment will shall (unless a an Event of Default has occurred and such party is the non-defaulting nondefaulting party) as a separate and independent obligation (which shall not merge with any judgment or any payment or any partial payment or enforcement of payment) and to the extent permitted by applicable law, immediately pay such additional amount in the Contractual Currency as may be necessary to compensate for the shortfall.
16.3 (d) If for any reason the amount in of the Contractual Currency received under Section 16.1 by one party hereto exceeds the amount in the Contractual Currency due such party in respect of this the Agreement, then the party receiving the payment will (unless a an Event of Default has occurred and such party is the non-defaulting nondefaulting party) the party receiving the payment shall refund promptly the amount of such excess.
Appears in 1 contract
Samples: Master Repurchase Agreement (FBR Asset Investment Corp Md)
Contractual Currency. 16.1 17.1 Borrower and Lender Agent agree that that: (a) any payment in respect of a Distribution distribution under Section 8 7 shall be made in the currency in which the underlying Distribution distribution of cash was made, ; (b) any return of cash shall be made in the currency in which the underlying transfer of cash was made, ; and (c) any other payment of cash in connection with a Loan under this Agreement shall be in the currency agreed upon by Borrower and Lender Agent in connection with such Loan (the currency established under clause clause
(a), ) (b) or (c) hereinafter referred to as the “Contractual Currency”). Notwithstanding the foregoing, the payee of any such payment may, at its option, accept tender thereof in any other currency; provided, however, however that, to the extent permitted by applicable law, the obligation of the payor to make such payment will be discharged only to the extent of the amount of Contractual Currency that such payee may, consistent with normal banking procedures, purchase with such other currency (after deduction of any premium and costs of exchange) on the banking day next succeeding its receipt of such currency.
16.2 17.2 If for any reason the amount in the Contractual Currency received under Section 16.117.1, including amounts received after conversion of any recovery under any judgment or order expressed in a currency other than the Contractual Currency, falls short of the amount in the Contractual Currency due in respect of this Agreement, the party required to make the payment will (unless a Default has occurred and such party is the non-defaulting party) as a separate and independent obligation and to the extent permitted by applicable law, immediately pay such additional amount in the Contractual Currency as may be necessary to compensate for the shortfall.
16.3 17.3 If for any reason the amount in the Contractual Currency received under Section 16.1 17.1 exceeds the amount in the Contractual Currency due in respect of this Agreement, then the party receiving the payment will (unless a Default has occurred and such party is the non-defaulting party) refund promptly the amount of such excess.
Appears in 1 contract
Samples: Securities Lending Agency Agreement (American Beacon Funds)
Contractual Currency. 16.1 15.1. Borrower and Lender agree that (a) any payment in respect of a Distribution under Section 8 shall be made in the currency in which the underlying Distribution of cash was made, (b) any return of cash shall be made in the currency in which the underlying transfer of cash was made, and (c) any other payment of cash in connection with a Loan under this Agreement shall be in the currency agreed upon by Borrower and Lender in connection with such Loan (the currency established under clause (a), (b) or (c) hereinafter referred to as the “Contractual Currency”). Notwithstanding the foregoing, the payee of any such payment may, at its option, accept tender thereof in any other currency; provided, however, that, to the extent permitted by applicable law, the obligation of the payor to make such payment will be discharged only to the extent of the amount of Contractual Currency that such payee may, consistent with normal banking procedures, purchase with such other currency (after deduction of any premium and costs of exchange) on the banking day next succeeding its receipt of such currency.any
16.2 15.2. If for any reason the amount in the Contractual Currency received under Section 16.114.1, including amounts received after conversion of any recovery under any judgment or order expressed in a currency other than the Contractual Currency, falls short of the amount in the Contractual Currency due in respect of this Agreement, the party required to make the payment will (unless a Default has occurred and such party is the non-defaulting party) as a separate and independent obligation and to the extent permitted by applicable law, immediately pay such additional amount in the Contractual Currency as may be necessary to compensate for the shortfall.
16.3 15.3. If for any reason the amount in the Contractual Currency received under Section 16.1 14.1 exceeds the amount in the Contractual Currency due in respect of this Agreement, then the party receiving the payment will (unless a Default has occurred and such party is the non-defaulting party) refund promptly the amount of such excess.
Appears in 1 contract
Samples: Master Securities Lending Agreement
Contractual Currency. 16.1 17.1. Borrower and Lender agree that that: (a) any payment in respect of a Distribution distribution under Section 8 7 shall be made in the currency in which the underlying Distribution distribution of cash was made, ; (b) any return of cash shall be made in the currency in which the underlying transfer of cash was made, made and (c) any other payment of cash in connection with a Loan under this Agreement shall be in the currency agreed upon by Borrower and Lender in connection with such Loan (the currency established under clause (a), (b) or (c) hereinafter referred to as the “"Contractual Currency”"). Notwithstanding the foregoing, the payee of any such payment may, at its option, accept tender thereof in any other currency; provided, however, that, to the extent permitted by applicable law, the obligation of the payor to make such payment will be discharged only to the extent of the amount of Contractual Currency that such payee may, consistent with normal banking procedures, purchase with such other currency (after deduction of any premium and costs of exchange) on the banking day next succeeding its receipt of such currency.
16.2 17.2. If for any reason the amount in the Contractual Currency received under Section 16.117.1, including amounts received after conversion of any recovery under any judgment or order expressed in a currency other than the Contractual Currency, falls short of the amount in the Contractual Currency due in respect of this Agreement, the party required to make the payment will (unless a Default has occurred and such party is the non-defaulting party) as a separate and independent obligation and to the extent permitted by applicable law, immediately pay such additional amount in the Contractual Currency as may be necessary to compensate for the shortfall.
16.3 17.3. If for any reason the amount in the Contractual Currency received under Section 16.1 17.1 exceeds the amount in the Contractual Currency due in respect of this Agreement, then the party receiving the payment will (unless a Default has occurred and such party is the non-defaulting party) refund promptly the amount of such excess.
Appears in 1 contract
Samples: Master Securities Loan Agreement (Herbalife International Inc)
Contractual Currency. 16.1 Borrower and Lender agree that (a) any payment in respect of a Distribution under Section 8 shall be made in the currency in which the underlying Distribution of cash was made, (b) any return of cash shall be made in the currency in which the underlying transfer of cash was made, and (c) any other payment of cash in connection with a Loan under this Agreement shall be in the currency agreed upon by Borrower and Lender in connection with such Loan (the currency established under clause (a), (b) or (c) hereinafter referred to as the “"Contractual Currency”"). Notwithstanding the foregoing, the payee of any such payment may, at its option, accept tender thereof in any other currency; provided, however, that, to the extent permitted by applicable law, the obligation of the payor to make such payment will be discharged only to the extent of the amount of Contractual Currency that such payee may, consistent with normal banking dc-455557 -11 EX-99.(g)(2)(iii) procedures, purchase with such other currency (after deduction of any premium and costs of exchange) on the banking day next succeeding its receipt of such currency.
16.2 If for any reason the amount in the Contractual Currency received under Section 16.1, including amounts received after conversion of any recovery under any judgment or order expressed in a currency other than the Contractual Currency, falls short of the amount in the Contractual Currency due in respect of this Agreement, the party required to make the payment will (unless a Default has occurred and such party is the non-defaulting party) as a separate and independent obligation and to the extent permitted by applicable law, immediately pay such additional amount in the Contractual Currency as may be necessary to compensate for the shortfall.
16.3 If for any reason the amount in the Contractual Currency received under Section 16.1 exceeds the amount in the Contractual Currency due in respect of this Agreement, then the party receiving the payment will (unless a Default has occurred and such party is the non-defaulting party) refund promptly the amount of such excess.
Appears in 1 contract
Samples: Securities Lending Agency Agreement (Wells Fargo Variable Trust)
Contractual Currency. 16.1 17.1 Borrower and Lender agree that that: (a) any payment in respect of a Distribution distribution under Section 8 7 shall be made in the currency in which the underlying Distribution distribution of cash was made, ; (b) any return of cash shall be made in the currency in which the underlying transfer of cash was made, ; and (c) any other payment of cash in connection with a Loan under this Agreement shall be in the currency agreed upon by Borrower and Lender in connection with such Loan (the currency established under clause (a), (b) or (c) hereinafter referred to as the “"Contractual Currency”"). Notwithstanding the foregoing, the payee of any such payment may, at its option, accept tender thereof in any other currency; provided, however, that, to the extent permitted by applicable law, the obligation of the payor to make such payment will be discharged only to the extent of the amount of Contractual Currency that such payee may, consistent with normal banking procedures, purchase with such other currency (after deduction of any premium and costs of exchange) on the banking day next succeeding its receipt of such currency.
16.2 17.2 If for any reason the amount in the Contractual Currency received under Section 16.117.1, including amounts received after conversion of any recovery under any judgment or order expressed in a currency other than the Contractual Currency, falls short of the amount in the Contractual Currency due in respect of this Agreement, the party required to make the payment will (unless a Default has occurred and such party is the non-defaulting party) as a separate and independent obligation and to the extent permitted by applicable law, immediately pay such additional amount in the Contractual Currency as may be necessary to compensate for the shortfall.
16.3 17.3 If for any reason the amount in the Contractual Currency received under Section 16.1 17.1 exceeds the amount in the Contractual Currency due in respect of this Agreement, then the party receiving the payment will (unless a Default has occurred and such party is the non-defaulting party) refund promptly the amount of such excess.
Appears in 1 contract
Samples: Master Securities Loan Agreement (Western & Southern Life Insurance Co)
Contractual Currency. 16.1 Borrower and Lender agree that (a) any payment in respect of a Distribution under Section 8 shall be made in the currency in which the underlying Distribution of cash was made, (b) any return of cash shall be made in the currency in which the underlying transfer of cash was made, and (c) any other payment of cash in connection with a Loan under this Agreement shall be in the currency agreed upon by Borrower and Lender in connection with such Loan (the currency established under clause (a), (b) or (c) hereinafter referred to as the ““ Contractual Currency”). Notwithstanding the foregoing, the payee of any such payment may, at its option, accept tender thereof in any other currency; provided, however, that, to the extent permitted by applicable law, the obligation of the payor to make such payment will be discharged only to the extent of the amount of Contractual Currency that such payee may, consistent with normal banking procedures, purchase with such other currency (after deduction of any premium and costs of exchange) on the banking day next succeeding its receipt of such currency.
16.2 If for any reason the amount in the Contractual Currency received under Section 16.1, including amounts received after conversion of any recovery under any judgment or order expressed in a currency other than the Contractual Currency, falls short of the amount in the Contractual Currency due in respect of this Agreement, the party required to make the payment will (unless a Default has occurred and such party is the non-defaulting nondefaulting party) as a separate and independent obligation and to the extent permitted by applicable law, immediately pay such additional amount in the Contractual Currency as may be necessary to compensate for the shortfall.
16.3 If for any reason the amount in the Contractual Currency received under Section 16.1 exceeds the amount in the Contractual Currency due in respect of this Agreement, then the party receiving the payment will (unless a Default has occurred and such party is the non-defaulting nondefaulting party) refund promptly the amount of such excess.
Appears in 1 contract
Samples: Master Securities Loan Agreement
Contractual Currency. 16.1 Borrower and Lender agree that (a) any payment Unless otherwise mutually agreed, all funds t ransferred in respect of a Distribution under Section 8 shall be made the Purchase Price or the Repurchase Price in the currency in which the underlying Distribution of cash was made, (b) any return of cash shall be made in the currency in which the underlying transfer of cash was made, and (c) any other payment of cash in connection with a Loan under this Agreement International Transaction shall be in the currency agreed upon by Borrower and Lender in connection with such Loan (the currency established under clause (a), Contractual Currency.
(b) or Notwithstanding subparagraph (ca) hereinafter referred to as the “Contractual Currency”). Notwithstanding the foregoingof this Paragraph 3, the payee of any such payment may, at its option, accept tender thereof in any other currency; provided, however, that, to the extent permitted by applicable law, the obligation of the payor to make such payment will be discharged only to the extent of the amount of the Contractual Currency that such payee may, consistent with normal banking procedures, purchase with such other currency curren- cy (after deduction of any premium and costs of exchange) on for delivery within the banking day next succeeding its receipt cus- tomary delivery period for spot transactions in respect of such the relevant currency.
16.2 (c) If for any reason the amount in the Contractual Currency received under Section 16.1so received, including amounts received after conversion of any recovery under any judgment or order expressed in a currency other than the Contractual Currency, falls short of the amount in the Contractual Currency due in respect of this the Agreement, the party required to make the payment will shall (unless a an Event of Default has occurred and such party is the non-defaulting nondefault- ing party) as a separate and independent obligation (which shall not merge with any judgment or any payment or any partial payment or enforcement of payment) and to the extent permitted by applicable law, immediately pay such additional amount in the Contractual Currency as may be necessary to compensate for the shortfall.
16.3 (d) If for any reason the amount in of the Contractual Currency received under Section 16.1 by one party hereto exceeds the amount in the Contractual Currency due such party in respect of this the Agreement, then the party receiving the payment will (unless a an Event of Default has occurred and such party is the non-defaulting nonde- faulting party) the party receiving the payment shall refund promptly the amount of such excess.
Appears in 1 contract
Samples: Master Repurchase Agreement
Contractual Currency. 16.1 Borrower and Lender agree that (a) any payment Unless otherwise mutually agreed, all funds transferred in respect of a Distribution under Section 8 shall be made the Purchase Price or the Repurchase Price in the currency in which the underlying Distribution of cash was made, (b) any return of cash shall be made in the currency in which the underlying transfer of cash was made, and (c) any other payment of cash in connection with a Loan under this Agreement International Transaction shall be in the currency agreed upon by Borrower and Lender in connection with such Loan (the currency established under clause (a), Contractual Currency.
(b) or Notwithstanding subparagraph (ca) hereinafter referred to as the “Contractual Currency”). Notwithstanding the foregoingof this Paragraph 3, the payee of any such payment may, at its option, accept tender thereof in any other currency; provided, however, that, to the extent permitted by applicable law, the obligation of the payor to make such payment will be discharged only to the extent of the amount of the Contractual Currency that such payee may, consistent with normal banking procedures, purchase with such other currency (after deduction of any premium and costs of exchange) on for delivery within the banking day next succeeding its receipt customary delivery period for spot transactions in respect of such the relevant currency.
16.2 (c) If for any reason the amount in the Contractual Currency received under Section 16.1so received, including amounts received after conversion of any recovery under any judgment or order expressed in a currency other than the Contractual Currency, falls short of the amount in the Contractual Currency due in respect of this the Agreement, the party required to make the payment will shall (unless a an Event of Default has occurred and such party is the nonnondefault-defaulting ing party) as a separate and independent obligation (which shall not merge with any judgment or any payment or any partial payment or enforcement of payment) and to the extent permitted by applicable law, immediately pay such additional amount in the Contractual Currency as may be necessary to compensate for the shortfall.
16.3 (d) If for any reason the amount in of the Contractual Currency received under Section 16.1 by one party hereto exceeds the amount in the Contractual Currency due such party in respect of this the Agreement, then the party receiving the payment will (unless a an Event of Default has occurred and such party is the non-defaulting party) the party receiving the payment shall refund promptly the amount of such excess.
Appears in 1 contract
Contractual Currency. 16.1 17.1 Borrower and Lender agree that that: (a) any payment in respect of a Distribution distribution under Section 8 7 shall be made in the currency in which the underlying Distribution distribution of cash was made, ; (b) any return of cash shall be made in the currency in which the underlying transfer of cash was made, made and (c) any other payment of cash in connection with a Loan under this Agreement shall be in the currency agreed upon by Borrower and Lender in connection with such Loan (the currency established under clause (a), (b) or (c) hereinafter referred to as the “"Contractual Currency”"). Notwithstanding the foregoing, the payee of any such payment may, at its option, accept tender thereof in any other currency; provided, however, that, to the extent permitted by applicable law, the -------- ------- obligation of the payor to make such payment will be discharged only to the extent of the amount of Contractual Currency that such payee may, consistent with normal banking procedures, purchase with such other currency (after deduction of any premium and costs of exchange) on the banking day next succeeding its receipt of such currency.
16.2 17.2 If for any reason the amount in of the Contractual Currency received under Section 16.117.1, including amounts received after conversion of any recovery under any judgment or order expressed in a currency other than the Contractual Currency, falls short of the amount in the Contractual Currency due in respect of this Agreement, the party required to make the payment will (unless a Default has occurred and such party is the non-defaulting party) as a separate and independent obligation and to the extent permitted by applicable law, immediately pay such additional amount in the Contractual Currency as may be necessary to compensate for the shortfall.
16.3 17.3 If for any reason the amount in the Contractual Currency received under Section 16.1 17.1 exceeds the amount in the Contractual Currency due in respect of this Agreement, then the party receiving the payment will (unless a Default has occurred and such party is the non-defaulting party) refund promptly the amount of such excess.
Appears in 1 contract
Samples: Master Securities Loan Agreement (Peak International LTD)
Contractual Currency. 16.1 Borrower and Lender agree that (a) any payment in respect of a Distribution under Section 8 shall be made in the currency in which the underlying Distribution of cash was made, (b) any return of cash shall be made in the currency in which the underlying transfer of cash was made, and (c) any other payment of cash in connection with a Loan under this Agreement shall be in the currency agreed upon by Borrower and Lender in connection with such Loan (the currency established under clause (a), (b) or (c) hereinafter referred to as the “Contractual Currency”). Notwithstanding the foregoing, the payee of any such payment may, at its option, accept tender thereof in any other currency; provided, however, that, to the extent permitted by applicable law, the obligation of the payor to make such payment will be discharged only to the extent of the amount of Contractual Currency that such payee may, consistent with normal banking procedures, purchase with such other currency (after deduction of any premium and costs of exchange) on the banking day next succeeding its receipt of such currency.. 2000 Master Securities Loan Agreement n 11
16.2 If for any reason the amount in the Contractual Currency received under Section 16.1, including amounts received after conversion of any recovery under any judgment or order expressed in a currency other than the Contractual Currency, falls short of the amount in the Contractual Currency due in respect of this Agreement, the party required to make the payment will (unless a Default has occurred and such party is the non-defaulting party) as a separate and independent obligation and to the extent permitted by applicable law, immediately pay such additional amount in the Contractual Currency as may be necessary to compensate for the shortfall.
16.3 If for any reason the amount in the Contractual Currency received under Section 16.1 exceeds the amount in the Contractual Currency due in respect of this Agreement, then the party receiving the payment will (unless a Default has occurred and such party is the non-defaulting party) refund promptly the amount of such excess.
Appears in 1 contract
Contractual Currency. 16.1 16.1. Borrower and Lender agree that (a) any payment in respect of a Distribution under Section 8 shall be made in the currency in which the underlying Distribution of cash was made, (b) any return of cash shall be made in the currency in which the underlying transfer of cash was made, and (c) any other payment of cash in connection with a Loan under this Agreement shall be in the currency agreed upon by Borrower and Lender in connection with such Loan (the currency established under clause (a), (b) or (c) hereinafter referred to as the “Contractual Currency”). Notwithstanding the foregoing, the payee of any such payment may, at its option, accept tender thereof in any other currency; provided, however, that, to the extent permitted by applicable law, the obligation of the payor to make such payment will be discharged only to the extent of the amount of Contractual Currency that such payee may, consistent with normal banking procedures, purchase with such other currency (after deduction of any premium and costs of exchange) on the banking day next succeeding its receipt of such currency.
16.2 16.2. If for any reason the amount in the Contractual Currency received under Section 16.1, including amounts received after conversion of any recovery under any judgment or order expressed in a currency other than the Contractual Currency, falls short of the amount in the Contractual Currency due in respect of this Agreement, the party required to make the payment will (unless a Default has occurred and such party is the non-defaulting non‐defaulting party) as a separate and independent obligation and to the extent permitted by applicable law, immediately pay such additional amount in the Contractual Currency as may be necessary to compensate for the shortfall.
16.3 16.3. If for any reason the amount in the Contractual Currency received under Section 16.1 exceeds the amount in the Contractual Currency due in respect of this Agreement, then the party receiving the payment will (unless a Default has occurred occurred, and such party is the non-defaulting non‐defaulting party) refund promptly the amount of such excess.
Appears in 1 contract
Samples: Master Securities Lending Agreement
Contractual Currency. 16.1 Borrower and Lender agree that (a) any payment Unless otherwise mutually agreed, all funds transferred in respect of a Distribution under Section 8 shall be made the Purchase Price or the Repurchase Price in the currency in which the underlying Distribution of cash was made, (b) any return of cash shall be made in the currency in which the underlying transfer of cash was made, and (c) any other payment of cash in connection with a Loan under this Agreement International Transaction shall be in the currency agreed upon by Borrower and Lender in connection with such Loan (the currency established under clause (a), Contractual Currency.
(b) or Notwithstanding subparagraph (ca) hereinafter referred to as the “Contractual Currency”). Notwithstanding the foregoingof this Paragraph 3, the payee of any such payment may, at its option, accept tender thereof in any other currencyCurrency; provided, however, that, to the extent permitted by applicable law, the obligation of the payor to make such payment will be discharged only to the extent of the amount of the Contractual Currency that such payee may, consistent with normal banking procedures, purchase with such other currency (after deduction of any premium and costs of exchange) on for delivery within the banking day next succeeding its receipt customary delivery period for spot transactions in respect of such the relevant currency.
16.2 (c) If for any reason the amount in the Contractual Currency received under Section 16.1so received, including amounts received after conversion of any recovery under any judgment or order expressed in a currency other than the Contractual Currency, falls short of the amount in the Contractual Currency due in respect of this the Agreement, the party required to make the payment will shall (unless a an Event of Default has occurred and such party is the non-defaulting nondefaulting party) as a separate and independent obligation (which shall not merge with any 24 § September 1996 § Master Repurchase Agreement judgement or any payment or any partial payment or enforcement of payment) and to the extent permitted by applicable lawlaws, immediately pay such additional amount in the Contractual Currency as may be necessary to compensate for the shortfall.
16.3 (d) If for any reason the amount in of the Contractual Currency received under Section 16.1 by one party hereto exceeds the amount in the Contractual Currency due such party in respect of this the Agreement, then the party receiving the payment will (unless a an Event of Default has occurred and such party is the non-defaulting nondefaulting party) the party receiving the payment shall refund promptly the amount of such excess.
Appears in 1 contract
Samples: Master Repurchase Agreement (Provident Mortgage Capital Associates, Inc.)
Contractual Currency. 16.1 17.1 Borrower and Lender agree that that: (a) any payment in respect of a Distribution distribution under Section 8 7 shall be made in the currency in which the underlying Distribution distribution of cash was made, ; (b) any return of cash shall be made in the currency in which the underlying transfer of cash was made, made and (c) any other payment of cash in connection with a Loan under this Agreement shall be in the currency agreed upon by Borrower and Lender in connection with such Loan (the currency established under clause (a), (b) or (c) hereinafter here inafter referred to as the “Contractual Currency”). Notwithstanding the foregoing, the payee of any such payment may, at its option, accept tender thereof in any other currencyxxxxxx xx; provided, however, that, to the extent permitted by applicable law, the obligation of the payor to make such payment will be discharged only to the extent of the amount of Contractual Currency that such payee may, consistent with normal banking procedures, purchase with such other currency (after deduction ded uction of any premium and costs of exchange) on the banking day next succeeding its receipt of such currency.
16.2 17.2 If for any reason the amount in the Contractual Currency Curre ncy received under Section 16.117.1, including amounts received after conversion of any recovery under any judgment or order expressed in a currency other than the Contractual CurrencyCurre ncy, falls short of the amount in the Contractual Currency due in respect of this Agreement, the party required to make the payment will (unless a Default has occurred and such party is the non-defaulting party) as a separate and independent obligation and to the extent permitted by applicable law, immediately pay such additional amount in the Contractual Currency Curre ncy as may be necessary nec xxxxxx to compensate for the shortfall.
16.3 17.3 If for any reason the amount in the Contractual Currency Curre ncy received under Section 16.1 17.1 exceeds the amount in the Contractual Currency Curre ncy due in respect of this Agreement, then the party receiving the payment will (unless a Default has occurred and such party is the non-defaulting party) refund promptly p romptly the amount of o f such excess.
Appears in 1 contract
Samples: Master Securities Loan Agreement
Contractual Currency. 16.1 Borrower 17.1 ETS and Lender agree that (a) any payment in respect of a Distribution under Section 8 9 shall be made in the currency in which the underlying Distribution of cash was made, (b) any return of cash shall be made in the currency in which the underlying transfer of cash was made, and (c) any other payment of cash in connection with a Loan under this Agreement shall be in the currency agreed upon by Borrower ETS and Lender in connection with such Loan (Loan; the currency established under clause (a), (b) ), or (c) in this Section 17.1 is hereinafter referred to as the “Contractual Currency”). .” Notwithstanding the foregoing, the payee of any such payment may, at its option, accept tender thereof in any other currency; , provided, however, that, that to the extent permitted by applicable law, law the obligation of the payor to make such payment will be discharged only to the extent of the amount of Contractual Currency that such payee may, consistent with normal banking procedures, purchase with such other currency (after deduction of any premium and costs of exchange) on the banking day next succeeding its receipt of such currency.
16.2 17.2 If for any reason the amount in the Contractual Currency received under Section 16.117.1, including amounts received after conversion of any recovery under any judgment or order expressed in a currency other than the Contractual Currency, falls short of the amount in the Contractual Currency due in respect of this Agreement, the party required to make the payment will (unless a Default has occurred and such party is the non-defaulting party) ), as a separate and independent obligation and to the extent permitted by applicable law, immediately pay such additional amount in the Contractual Currency as may be necessary to compensate for the shortfall.
16.3 17.3 If for any reason the amount in the Contractual Currency received under Section 16.1 17.1 exceeds the amount in the Contractual Currency due in respect of this Agreement, then the party receiving the payment will (unless a Default has occurred and such party is the non-defaulting party) refund promptly the amount of such excess.
Appears in 1 contract
Samples: Master Securities Lending Agreement
Contractual Currency. 16.1 Borrower and Lender agree that (a) any payment Unless otherwise mutually agreed, all funds transferred in respect of a Distribution under Section 8 shall be made the Purchase Price or the Repur- chase Price in the currency in which the underlying Distribution of cash was made, (b) any return of cash shall be made in the currency in which the underlying transfer of cash was made, and (c) any other payment of cash in connection with a Loan under this Agreement International Transaction shall be in the currency agreed upon by Borrower and Lender in connection with such Loan (the currency established under clause (a), Contractual Currency.
(b) or Notwithstanding subparagraph (ca) hereinafter referred to as the “Contractual Currency”). Notwithstanding the foregoingof this Paragraph 3, the payee of any such payment may, at its option, accept ac- cept tender thereof in any other currency; provided, however, that, to the extent permitted by applicable law, the obligation of the payor to make such payment will be discharged only to the extent of the amount of the Contractual Currency that such payee may, consistent with normal banking procedures, purchase with such other currency (after deduction of any premium and costs of exchange) on for delivery within the banking day next succeeding its receipt customary delivery period for spot transactions in respect of such the relevant currency.
16.2 (c) If for any reason the amount in the Contractual Currency received under Section 16.1so received, including amounts received after conversion of any recovery under any judgment or order expressed in a currency other than the Contractual CurrencyCur- rency, falls short of the amount in the Contractual Currency due in respect of this the Agreement, the party required to make the payment will shall (unless a an Event of Default has occurred and such party is the non-defaulting nondefaulting party) as a separate and independent obligation (which shall not merge with any judgment or any payment or any partial pay- ment or enforcement of payment) and to the extent permitted by applicable law, immediately pay such additional amount in the Contractual Currency as may be necessary to compensate for the shortfall.
16.3 (d) If for any reason the amount in of the Contractual Currency received under Section 16.1 by one party hereto exceeds the amount in the Contractual Currency due such party in respect of this the Agreement, then (unless an Event of Default has oc- curred and such party is the nondefaulting party) the party receiving the payment will (unless a Default has occurred and such party is the non-defaulting party) shall refund promptly the amount of such excess.
Appears in 1 contract
Samples: Master Repurchase Agreement
Contractual Currency. 16.1 17.1 Borrower and Lender agree that that: (a) any payment in respect of a Distribution distribution under Section 8 7 shall be made in the currency in which the underlying Distribution distribution of cash was made, ; (b) any return of cash shall be made in the currency in which the underlying transfer of cash was made, made and (c) any other payment of cash in connection with a Loan under this Agreement shall be in the currency agreed upon by Borrower and Lender in connection with such Loan (the currency established under clause (a), (b) or (c) hereinafter here- inafter referred to as the “Contractual Currency”). Notwithstanding the foregoing, the payee of any such payment may, at its option, accept tender thereof in any other currencycurren- cy; provided, however, that, to the extent permitted by applicable law, the obligation of the payor to make such payment will be discharged only to the extent of the amount of Contractual Currency that such payee may, consistent with normal banking procedures, purchase with such other currency (after deduction of any premium and costs of exchange) on the banking day next succeeding its receipt of such currency.
16.2 17.2 If for any reason the amount in the Contractual Currency received under Section 16.117.1, including amounts received after conversion of any recovery under any judgment or order expressed in a currency other than the Contractual Currency, falls short of the amount in the Contractual Currency due in respect of this Agreement, the party required to make the payment will (unless a Default has occurred and such party is the non-defaulting party) as a separate and independent obligation and to the extent permitted by applicable law, immediately pay such additional amount in the Contractual Currency as may be necessary nec- xxxxxx to compensate for the shortfall.
16.3 17.3 If for any reason the amount in the Contractual Currency received under Section 16.1 17.1 exceeds the amount in the Contractual Currency due in respect of this Agreement, then the party receiving the payment will (unless a Default has occurred and such party is the non-defaulting party) refund promptly the amount of such excess.
Appears in 1 contract
Samples: Master Securities Loan Agreement
Contractual Currency. 16.1 Borrower and Lender agree that (a) any payment in respect of a Distribution under Section 8 shall be made in the currency in which the underlying Distribution of cash was made, (b) any return of cash shall be made in the currency in which the underlying transfer of cash was made, and (c) any other payment of cash in connection with a Loan under this Agreement shall be in the currency agreed upon by Borrower and Lender in connection with such Loan (the currency established under clause (a), (b) or (c) hereinafter referred to as the “Contractual Currency”). Notwithstanding the foregoing, the payee of any such payment may, at its option, accept tender thereof in any other currency; provided, however, that, to the extent permitted by applicable law, the obligation of the payor to make such payment will be discharged only to the extent of the amount of Contractual Currency that such payee may, consistent with normal banking procedures, purchase with such other currency (after deduction of any premium and costs of exchange) on the banking day next succeeding its receipt of such currency... 2000 Master Securities Loan Agreement n 11
16.2 If for any reason the amount in the Contractual Currency received under Section 16.1, including amounts received after conversion of any recovery under any judgment or order expressed in a currency other than the Contractual Currency, falls short of the amount in the Contractual Currency due in respect of this Agreement, the party required to make the payment will (unless a Default has occurred and such party is the non-defaulting party) as a separate and independent obligation and to the extent permitted by applicable law, immediately pay such additional amount in the Contractual Currency as may be necessary to compensate for the shortfall.
16.3 If for any reason the amount in the Contractual Currency received under Section 16.1 exceeds the amount in the Contractual Currency due in respect of this Agreement, then the party receiving the payment will (unless a Default has occurred and such party is the non-defaulting party) refund promptly the amount of such excess.„
Appears in 1 contract
Samples: Securities Lending Agency Agreement (iSHARES TRUST)
Contractual Currency. 16.1 14.1 Borrower and Lender agree that (a) any payment in respect of a Distribution under Section 8 7 shall be made in the currency in which the underlying Distribution of cash was made, (b) any return of cash shall be made in the currency in which the underlying transfer of cash was made, and (c) any other payment of cash in connection with a the Loan under this Agreement shall be in the currency agreed upon by Borrower and Lender in connection with such the Loan (the currency established under clause (a), (b) or (c) hereinafter referred to as the “Contractual Currency”). Notwithstanding the foregoing, the payee of any such payment may, at its option, accept tender thereof in any other currency; provided, however, that, to the extent permitted by applicable law, the obligation of the payor to make such payment will be discharged only to the extent of the amount of Contractual Currency that such payee may, consistent with normal banking procedures, purchase with such other currency (after deduction of any premium and costs of exchange) on the banking day next succeeding its receipt of such currency.
16.2 14.2 If for any reason the amount in the Contractual Currency received under Section 16.114.1, including amounts received after conversion of any recovery under any judgment or order expressed in a currency other than the Contractual Currency, falls short of the amount in the Contractual Currency due in respect of this Agreement, the party required to make the payment will (unless a Default has occurred and such party is the non-defaulting party) as a separate and independent obligation and to the extent permitted by applicable law, immediately pay such additional amount in the Contractual Currency as may be necessary to compensate for the shortfall.
16.3 14.3 If for any reason the amount in the Contractual Currency received under Section 16.1 14.1 exceeds the amount in the Contractual Currency due in respect of this Agreement, then the party receiving the payment will (unless a Default has occurred and such party is the non-defaulting party) refund promptly the amount of such excess.
Appears in 1 contract
Samples: Loan Agreement (Lebow Bennett S)
Contractual Currency. 16.1 Borrower and Lender agree that (a) any payment in respect of a Distribution under Section 8 shall be made in the currency in which the underlying Distribution of cash was made, (b) any return of cash shall be made in the currency in which the underlying transfer of cash was made, and (c) any other payment of cash in connection with a Loan under this Agreement shall be in the currency agreed upon by Borrower and Lender in connection with such Loan (the currency established under clause (a), (b) or (c) hereinafter referred to as the “"Contractual Currency”"). Notwithstanding the foregoing, the payee of any such payment may, at its option, accept tender thereof in any other currency; provided, however, that, to the extent permitted by applicable law, the obligation of the payor to make such payment will be discharged only to the extent of the amount of Contractual Currency that such payee may, consistent with normal banking 2000 Master Securities Loan Agreement 11 procedures, purchase with such other currency (after deduction of any premium and costs of exchange) on the banking day next succeeding its receipt of such currency.
16.2 If for any reason the amount in the Contractual Currency received under Section 16.1, including amounts received after conversion of any recovery under any judgment or order expressed in a currency other than the Contractual Currency, falls short of the amount in the Contractual Currency due in respect of this Agreement, the party required to make the payment will (unless a Default has occurred and such party is the non-defaulting party) as a separate and independent obligation and to the extent permitted by applicable law, immediately pay such additional amount in the Contractual Currency as may be necessary to compensate for the shortfall.
16.3 If for any reason the amount in the Contractual Currency received under Section 16.1 exceeds the amount in the Contractual Currency due in respect of this Agreement, then the party receiving the payment will (unless a Default has occurred and such party is the non-defaulting party) refund promptly the amount of such excess.
Appears in 1 contract
Samples: Master Securities Loan Agreement (Cornerstone Progressive Return Fund)
Contractual Currency. 16.1 Borrower and Lender agree that (a) any payment Unless otherwise mutually agreed, all funds transferred in respect of a Distribution under Section 8 shall be made the premium or the exercise price in the currency in which the underlying Distribution of cash was made, (b) any return of cash shall be made in the currency in which the underlying transfer of cash was made, and (c) any other payment of cash in connection with a Loan under this Agreement International Transaction shall be in the currency agreed upon by Borrower and Lender in connection with such Loan (the currency established under clause (a), Contractual Currency.
(b) or Notwithstanding subparagraph (ca) hereinafter referred to as the “Contractual Currency”). Notwithstanding the foregoingof this Paragraph 3, the payee of any such payment may, at its option, accept tender thereof in any other currency; provided, however, that, to the extent permitted by applicable law, the obligation of the payor to make such payment will be discharged only to the extent of the amount of the Contractual Currency that such payee may, consistent with normal banking procedures, purchase with such other currency (after deduction of any premium and costs of exchange) on for delivery within the banking day next succeeding its receipt customary delivery period for spot transactions in respect of such the relevant currency.
16.2 (c) If for any reason the amount in the Contractual Currency received under Section 16.1so received, including amounts received after conversion of any recovery under any judgment or order expressed in a currency other than the Contractual Currency, falls short of the amount in the Contractual Currency due in respect of this the Agreement, the party required to make the payment will shall (unless a an Event of Default has occurred and such party is the non-defaulting nondefaulting party) as a separate and independent obligation (which shall not merge with any judgment or any payment or any partial payment or enforcement of payment) and to the extent permitted by applicable law, immediately pay such additional amount in the Contractual Currency as may be necessary to compensate for the shortfall.
16.3 (d) If for any reason the amount in of the Contractual Currency received under Section 16.1 by one party hereto exceeds the amount in the Contractual Currency due such party in respect of this the Agreement, then the party receiving the payment will (unless a an Event of Default has occurred and such party is the non-defaulting nondefaulting party) the party receiving the payment shall refund promptly the amount of such excess.
(e) For purposes of Paragraph 5(c) of the Agreement, references to $1 million in face amount of Underlying Securities or other securities shall be references to the equivalent face amount thereof in the Contractual Currency (calculated at the Spot Rate).
Appears in 1 contract
Samples: Master Otc Options Agreement
Contractual Currency. 16.1 17.1 Borrower and Lender agree that that: (a) any payment in respect of a Distribution distribution under Section 8 7 shall be made in the currency in which the underlying Distribution distribution of cash was made, ; (b) any return of cash shall be made in the currency in which the underlying transfer of cash was made, made and (c) -C- any other payment of cash in connection with a Loan under this Agreement shall be in the currency agreed upon by Borrower and Lender in connection with such Loan (the currency established under clause (a), (b) or (c) -C- hereinafter referred to as the “"Contractual Currency”"). Notwithstanding the foregoing, the payee of any such payment may, at its option, accept tender thereof in any other currency; provided, however, that, to the extent permitted by applicable law, the obligation of the payor to make such payment will be discharged only to the extent of the amount of Contractual Currency that such payee may, consistent with normal banking procedures, purchase with such other currency (after deduction of any premium and costs of exchange) on the banking day next succeeding its receipt of such currency.
16.2 17.2 If for any reason the amount in the Contractual Currency received under Section 16.117.1, including amounts received after conversion of any recovery under any judgment or order expressed in a currency other than the Contractual Currency, falls short of the amount in the Contractual Currency due in respect of this Agreement, the party required to make the payment will (unless a Default has occurred and such party is the non-defaulting party) as a separate and independent obligation and to the extent permitted by applicable law, immediately pay such additional amount in the Contractual Currency as may be necessary to compensate for the shortfall.
16.3 17.3 If for any reason the amount in the Contractual Currency received under Section 16.1 17.1 exceeds the amount in the Contractual Currency due in respect of this Agreement, then the party receiving the payment will (unless a Default has occurred and such party is the non-defaulting party) refund promptly the amount of such excess.
Appears in 1 contract
Samples: Master Securities Loan Agreement (Nicholas Applegate Institutional Funds)
