Customer Responsibilities. (a) The Customer agrees to (i) promptly notify the Bank of any change that the Customer wishes to make to Exhibit B, (ii) promptly notify the Bank if any information contained in the Customer Information Sheet becomes inaccurate or untrue and (iii) indemnify the Bank for any losses resulting from the Customer's failure to adhere to the provisions of Subsection (a) of this Section 11. (b) The Customer agrees that, to the extent any loss arising out of investments of Cash Collateral results in a deficiency in the amount of Collateral available for return to a Borrower, the Customer shall pay to the Bank, on demand, cash in an amount equal to such deficiency. (c) The Customer acknowledges that the Bank is acting as an agent on the Customer's behalf in connection with the lending of the Customer's assets and the investment of cash received as Collateral for such Loans. The Customer understands that it bears certain risks of loss, including (i) any decline in value of Cash Collateral investments and (ii) subject to Section 12, loss resulting from any securities lending default by a Borrower. (d) The Customer acknowledges that it is responsible for paying any taxes that are incurred as a result of Loans made on behalf of the Customer, and the Customer agrees that it shall reimburse the Bank for any taxes paid on Customer's behalf by the Bank. (e) The Customer agrees to reimburse the Bank and to hold the Bank harmless from and against any and all costs, expenses, damages, liabilities or claims, including reasonable fees and expenses of counsel incurred by the Bank which the Bank may sustain or incur or which may be asserted against the Bank by reason of or as a result of any action taken or omitted by the Bank in connection with operating under this Agreement (including, but not limited to, actions or omissions related to the lending of Securities to Borrowers or the holding or investment of Collateral or resulting from the Customer's failure to comply with its obligations under Section 11(a) hereof), other than those costs, expenses, damages, liabilities or claims arising out of the Bank's gross negligence, bad faith or willful misconduct, as adjudicated by a court of competent jurisdiction. The foregoing shall be a continuing obligation of the Customer and the Customer's successors and assigns, notwithstanding the termination of any Loans hereunder or of this Agreement. The Bank may charge any amounts to which it is entitled hereunder against the account in which the Customer's Securities are held.
Appears in 4 contracts
Samples: Securities Lending Agreement (Manager Directed Portfolios), Securities Lending Agreement (Manager Directed Portfolios), Securities Lending Agreement (Manager Directed Portfolios)
Customer Responsibilities. (a) The Customer agrees to (i) promptly notify the Bank of any change that the Customer wishes to make to Exhibit BA, (ii) promptly notify the Bank if any information contained in the Customer Information Sheet becomes inaccurate or untrue and (iii) indemnify the Bank for any losses resulting from the Customer's failure to adhere to the provisions of Subsection (a) of this Section 11.
(b) The Customer agrees that, to the extent any loss arising out of investments of Cash Collateral in the Selected Series results in a deficiency in the amount of Collateral available for return to a Borrower, the Customer shall pay to the Bank, on demand, cash in an amount equal to such deficiency.
(c) The Customer acknowledges that the Bank is acting as an agent on the Customer's behalf in connection with the lending of the Customer's assets and the investment of cash received as Collateral for such Loans. The Customer understands that it bears certain the risks of investment loss, including (i) any decline in value of Cash Collateral investments investment and (ii) subject to Section 12, loss resulting from any securities lending default by a Borrower.
(d) The Customer acknowledges that it is responsible for paying any taxes that are incurred as a result of Loans made on behalf of the Customer, and the Customer agrees that it shall reimburse the Bank for any taxes paid on Customer's behalf by the Bank.
(e) The Customer agrees to reimburse the Bank and to hold the Bank harmless from and against any and all costs, expenses, damages, liabilities or claims, including reasonable fees and expenses of counsel incurred by the Bank which the Bank may sustain or incur or which may be asserted against the Bank by reason of or as a result of any action taken or omitted by the Bank in connection with operating under this Agreement (including, but not limited to, actions or omissions related to the lending of Securities to Borrowers or the holding or investment of Collateral or resulting from the Customer's failure to comply with its obligations under Section 11(a) hereof), ) other than those costs, expenses, damages, liabilities or claims arising out of the Bank's gross negligence, bad faith or willful misconductmisfeasance, as adjudicated by a court of competent jurisdiction. The foregoing shall be a continuing obligation of the Customer and the Customer's successors and assigns, notwithstanding the termination of any Loans hereunder or of this Agreement. The Bank may charge any amounts to which it is entitled hereunder against the account in which the Customer's Securities are held.
Appears in 3 contracts
Samples: Securities Lending Agreement (First American Investment Funds Inc), Securities Lending Agreement (First American Funds Inc), Securities Lending Agreement (First American Funds Inc)
Customer Responsibilities. (a) The Each Customer agrees to (i) promptly notify the Bank of any change that the Customer wishes to make to Exhibit BA, (ii) promptly notify the Bank if any information contained in the Customer Information Sheet relating to such Customer becomes inaccurate or untrue and (iii) indemnify the Bank for any losses resulting from the such Customer's failure to adhere to the provisions of Subsection (a) of this Section 11.
(b) The Each Customer agrees that, to the extent any loss arising out of investments of Cash Collateral in the Selected Series results in a deficiency in the amount of Collateral available for return to a Borrower, the Customer shall pay to the Bank, on demand, cash in an amount equal to such deficiency.
(c) The Each Customer acknowledges that the Bank is acting as an agent on the Customer's behalf in connection with the lending of the Customer's assets and the investment of cash received as Collateral for such Loans. The Each Customer understands that it bears certain the risks of investment loss, including (i) any decline in value of Cash Collateral investments investment and (ii) subject to Section 12, loss resulting from any securities lending default by a Borrower.
(d) The Each Customer acknowledges that it is responsible for paying any taxes that are incurred as a result of Loans made on behalf of the Customer, and the each Customer agrees that it shall reimburse the Bank for any taxes paid on Customer's behalf by the Bank.
(e) The Each Customer agrees to reimburse the Bank and to hold the Bank harmless from and against any and all costs, expenses, damages, liabilities or claims, including reasonable fees and expenses of counsel incurred by the Bank which the Bank may sustain or incur or which may be asserted against the Bank by reason of or as a result of any action taken or omitted by the Bank in connection with operating under this Agreement (including, but not limited to, actions or omissions related to the lending of Securities to Borrowers or the holding or investment of Collateral or resulting from the Customer's failure to comply with its obligations under Section 11(a) hereof), ) other than those costs, expenses, damages, liabilities or claims arising out of the Bank's gross negligence, bad faith or willful misconductmisfeasance, as adjudicated by a court of competent jurisdiction. The foregoing shall be a continuing obligation of the each Customer and the each Customer's successors and assigns, notwithstanding the termination of any Loans hereunder or of this Agreement. The Bank may charge any amounts to which it is entitled hereunder against the account in which the Customer's Securities are held.
Appears in 2 contracts
Samples: Securities Lending Agreement (BB&T Variable Insurance Funds), Securities Lending Agreement (Bb&t Funds /)
Customer Responsibilities. (a) The Customer agrees to (i) promptly notify the Bank of any change that the Customer wishes to make to Exhibit B, (ii) promptly notify the Bank if any information contained in the Customer Information Sheet becomes inaccurate or untrue and (iii) indemnify the Bank for any losses resulting from the Customer's failure to adhere to the provisions of Subsection (a) of this Section 11.
(bc) The Customer agrees that, to the extent any loss arising out of investments of Cash Collateral results in a deficiency in the amount of Collateral available for return to a Borrower, the Customer shall pay to the Bank, on demand, cash in an amount equal to such deficiency.
(cd) The Customer acknowledges that the Bank is acting as an agent on the Customer's behalf in connection with the lending of the Customer's assets and the investment of cash received as Collateral for such Loans. The Customer understands that it bears certain the risks of investment loss, including (i) any decline in value of Cash Collateral investments and (ii) subject to Section 12, loss resulting from any securities lending default by a Borrower.
(de) The Customer acknowledges that it is responsible for paying any taxes that are incurred as a result of Loans made on behalf of the Customer, and the Customer agrees that it shall reimburse the Bank for any taxes paid on Customer's behalf by the Bank.
(ef) The Customer agrees to reimburse the Bank and to hold the Bank harmless from and against any and all costs, expenses, damages, liabilities or claims, including reasonable fees and expenses of counsel incurred by the Bank which the Bank may sustain or incur or which may be asserted against the Bank by reason of or as a result of any action taken or omitted by the Bank in connection with operating under this Agreement (including, but not limited to, actions or omissions related to the lending of Securities to Borrowers or the holding or investment of Collateral or resulting from the Customer's failure to comply with its obligations under Section 11(a) hereof), other than those costs, expenses, damages, liabilities or claims arising out of the Bank's gross negligence, bad faith or willful misconduct, as adjudicated by a court of competent jurisdiction. The foregoing shall be a continuing obligation of the Customer and the Customer's successors and assigns, notwithstanding the termination of any Loans hereunder or of this Agreement. The Bank may charge any amounts to which it is entitled hereunder against the account in which the Customer's Securities are held.
Appears in 2 contracts
Samples: Securities Lending Agreement (Professionally Managed Portfolios), Securities Lending Agreement (Professionally Managed Portfolios)
Customer Responsibilities. (a) The Customer agrees to (i) promptly notify the Bank of any change that the Customer wishes to make to Exhibit B, (ii) promptly notify the Bank if any information contained in the Customer Information Sheet becomes inaccurate or untrue and (iii) indemnify the Bank for any losses resulting from the Customer's failure to adhere to the provisions of Subsection (a) of this Section 11.
(b) The Customer agrees that, to the extent any loss arising out of investments of Cash Collateral results in a deficiency in the amount of Collateral available for return to a Borrower, the Customer shall pay to the Bank, on demand, cash in an amount equal to such deficiency.
(c) The Customer acknowledges that the Bank is acting as an agent on the Customer's behalf in connection with the lending of the Customer's assets and the investment of cash received as Collateral for such Loans. The Customer understands that it bears certain the risks of investment loss, including (i) any decline in value of Cash Collateral investments and (ii) subject to Section 12, loss resulting from any securities lending default by a Borrower.
(d) The Customer acknowledges that it is responsible for paying any taxes that are incurred as a result of Loans made on behalf of the Customer, and the Customer agrees that it shall reimburse the Bank for any taxes paid on Customer's behalf by the Bank.
(e) The Customer agrees to reimburse the Bank and to hold the Bank harmless from and against any and all costs, expenses, damages, liabilities or claims, including reasonable fees and expenses of counsel incurred by the Bank which the Bank may sustain or incur or which may be asserted against the Bank by reason of or as a result of any action taken or omitted by the Bank in connection with operating under this Agreement (including, but not limited to, actions or omissions related to the lending of Securities to Borrowers or the holding or investment of Collateral or resulting from the Customer's failure to comply with its obligations under Section 11(a) hereof), other than those costs, expenses, damages, liabilities or claims arising out of the Bank's gross negligence, bad faith or willful misconduct, as adjudicated by a court of competent jurisdiction. The foregoing shall be a continuing obligation of the Customer and the Customer's successors and assigns, notwithstanding the termination of any Loans hereunder or of this Agreement. The Bank may charge any amounts to which it is entitled hereunder against the account in which the Customer's Securities are held.
Appears in 1 contract
Samples: Securities Lending Agreement (Manager Directed Portfolios)
Customer Responsibilities. (a) The Customer agrees to (i) promptly notify the Bank of any change that the Customer wishes to make to Exhibit B, (ii) promptly notify the Bank if any information contained in the Customer Information Sheet attached hereto as Exhibit A and made a part hereof becomes inaccurate or untrue and (iii) indemnify the Bank for any losses resulting from the Customer's ’s failure to adhere to the provisions of Subsection (a) of this Section 11.
(b) The Customer acknowledges that the Bank is acting as an agent on the Customer’s behalf in connection with the lending of the Customer’s assets and the investment of cash received as Collateral for such Loans. The Customer understands that it bears the risks of investment loss, including (i) any decline in value of Cash Collateral investments and (ii) subject to Section 12, loss resulting from any securities lending default by a Borrower.
(c) The Customer agrees that, to the extent any loss arising out of investments of Cash Collateral results in a deficiency in the amount of Collateral available for return to a Borrower, the Customer shall pay to the Bank, on demand, cash in an amount equal to such deficiency.
(c) The Customer acknowledges that the Bank is acting as an agent on the Customer's behalf in connection with the lending of the Customer's assets and the investment of cash received as Collateral for such Loans. The Customer understands that it bears certain risks of loss, including (i) any decline in value of Cash Collateral investments and (ii) subject to Section 12, loss resulting from any securities lending default by a Borrower.
(d) The Customer acknowledges that it is responsible for paying any taxes that are incurred as a result of Loans made on behalf of the Customer, and the Customer agrees that it shall reimburse the Bank for any taxes paid on Customer's ’s behalf by the Bank.
(e) The In the event of any claims or litigation against the Bank that arise from operating under this Agreement, the Customer agrees to reimburse the Bank and to hold the Bank harmless from and against any and all losses, costs, expenses, damages, liabilities or claims, including reasonable fees and expenses of counsel incurred by the Bank which the Bank may sustain or incur or which may be asserted asse11ed against the Bank by reason of or as a result of any action taken or omitted by the Bank in connection with operating under this Agreement (including, but not limited to, actions or omissions related to the lending of Securities to Borrowers or the holding or investment of Collateral or resulting from the Customer's ’s failure to comply with its obligations under Section 11(a1l(a) hereof), ,) other than those losses, costs, expenses, damages, liabilities or claims arising out of the Bank's ’s gross negligence, bad faith or willful misconduct, as adjudicated by a court of competent jurisdiction. The foregoing shall be a continuing obligation of the Customer and the Customer's ’s successors and assigns, notwithstanding the termination of any Loans hereunder or of this Agreement. The Bank may charge any amounts to which it is entitled hereunder against the account in which the Customer's ’s Securities are held.
Appears in 1 contract
Customer Responsibilities. (a) The Customer agrees to (i) promptly notify the Bank of any change that the Customer wishes to make to Exhibit B, (ii) promptly notify the Bank if any information contained in the Customer Information Sheet attached hereto as Exhibit A and made a part hereof becomes inaccurate or untrue and (iii) indemnify the Bank for any losses resulting from the Customer's failure to adhere to the provisions of Subsection (a) of this Section 11.
(b) The Customer acknowledges that the Bank is acting as an agent on the Customer's behalf in connection with the lending of the Customer's assets and the investment of cash received as Collateral for such Loans. The Customer understands that it bears the risks of investment loss, including (i) any decline in value of Cash Collateral investments and (ii) subject to Section 12, loss resulting from any securities lending default by a Borrower.
(c) The Customer agrees that, to the extent any loss arising out of investments of Cash Collateral results in a deficiency in the amount of Collateral available for return to a Borrower, the Customer shall pay to the Bank, on demand, cash in an amount equal to such deficiency.
(c) The Customer acknowledges that the Bank is acting as an agent on the Customer's behalf in connection with the lending of the Customer's assets and the investment of cash received as Collateral for such Loans. The Customer understands that it bears certain risks of loss, including (i) any decline in value of Cash Collateral investments and (ii) subject to Section 12, loss resulting from any securities lending default by a Borrower.
(d) The Customer acknowledges that it is responsible for paying any taxes that are incurred as a result of Loans made on behalf of the Customer, and the Customer agrees that it shall reimburse the Bank for any taxes paid on Customer's behalf by the Bank.
(e) The In the event of any claims or litigation against the Bank that arise from operating under this Agreement, the Customer agrees to reimburse the Bank and to hold the Bank harmless from and against any and all losses, costs, expenses, damages, liabilities or claims, including reasonable fees and expenses of counsel incurred by the Bank which the Bank may sustain or incur or which may be asserted against the Bank by reason of or as a result of any action taken or omitted by the Bank in connection with operating under this Agreement (including, but not limited to, actions or omissions related to the lending of Securities to Borrowers or the holding or investment of Collateral or resulting from the Customer's failure to comply with its obligations under Section 11(a) hereof), other than those losses, costs, expenses, damages, liabilities or claims arising out of the Bank's gross negligence, bad faith or willful misconduct, as adjudicated by a court of competent jurisdiction. The foregoing shall be a continuing obligation of the Customer and the Customer's successors and assigns, notwithstanding the termination of any Loans hereunder or of this Agreement. The Bank may charge any amounts to which it is entitled hereunder against the account in which the Customer's Securities are held.
Appears in 1 contract
Samples: Securities Lending Agreement (Procure ETF Trust II)
Customer Responsibilities. (a) The Customer agrees to (i) promptly notify the Bank of any change that the Customer wishes to make to Exhibit BA, (ii) promptly notify the Bank if any information contained in the Customer Information Sheet becomes inaccurate or untrue and (iii) indemnify the Bank for any losses resulting from the Customer's ’s failure to adhere to the provisions of Subsection (a) of this Section 11.
(b) The Customer agrees that, to the extent any loss arising out of investments of Cash Collateral in the Selected Series results in a deficiency in the amount of Collateral available for return to a Borrower, the Customer shall pay to the Bank, on demand, cash in an amount equal to such deficiency.
(c) The Customer acknowledges that the Bank is acting as an agent on the Customer's ’s behalf in connection with the lending of the Customer's ’s assets and the investment of cash received as Collateral for such Loans. The Customer understands that it bears certain the risks of investment loss, including (i) any decline in value of Cash Collateral investments investment and (ii) subject to Section 12, loss resulting from any securities lending default by a Borrower.
(d) The Customer acknowledges that it is responsible for paying any taxes that are incurred as a result of Loans made on behalf of the Customer, and the Customer agrees that it shall reimburse the Bank for any taxes paid on Customer's ’s behalf by the Bank.
(e) The Customer agrees to reimburse the Bank and to hold the Bank harmless from and against any and all costs, expenses, damages, liabilities or claims, including reasonable fees and expenses of counsel incurred by the Bank which the Bank may sustain or incur or which may be asserted against the Bank by reason of or as a result of any action taken or omitted by the Bank in connection with operating under this Agreement (including, but not limited to, actions or omissions related to the lending of Securities to Borrowers or the holding or investment of Collateral or resulting from the Customer's ’s failure to comply with its obligations under Section 11(a) hereof), ) other than those costs, expenses, damages, liabilities or claims arising out of the Bank's gross ’s negligence, bad faith or willful misconductmisfeasance, as adjudicated by a court of competent jurisdiction. The foregoing shall be a continuing obligation of the Customer and the Customer's ’s successors and assigns, notwithstanding the termination of any Loans hereunder or of this Agreement. The Bank may charge any amounts to which it is entitled hereunder against the account in which the Customer's ’s Securities are held.
Appears in 1 contract
Samples: Securities Lending Agreement (First American Funds Inc)
Customer Responsibilities. (a) The Customer agrees to (i) promptly notify the Bank of any change that the Customer wishes to make to Exhibit B, (ii) promptly notify the Bank if any information contained in the Customer Information Sheet attached hereto as Exhibit A and made a part hereof becomes inaccurate or untrue and (iii) indemnify the Bank for any losses resulting from the Customer's failure to adhere to the provisions of Subsection (a) of this Section 1112.
(b) The Customer acknowledges that the Bank is acting as an agent on the Customer's behalf in connection with the lending of the Customer's assets and the investment of cash received as Collateral for such Loans. The Customer understands that it bears the risks of investment loss, including (i) any decline in value of Cash Collateral investments and (ii) subject to Section 13, loss resulting from any securities lending default by a Borrower.
(c) Customer agrees that, to the extent any loss arising out of investments of Cash Collateral results in a deficiency in the amount of Collateral available for return to a Borrower, the Customer shall pay to the Bank, on demand, cash in an amount equal to such deficiency.
(c) The Customer acknowledges that the Bank is acting as an agent on the Customer's behalf in connection with the lending of the Customer's assets and the investment of cash received as Collateral for such Loans. The Customer understands that it bears certain risks of loss, including (i) any decline in value of Cash Collateral investments and (ii) subject to Section 12, loss resulting from any securities lending default by a Borrower.
(d) The Customer acknowledges that it is responsible for paying any taxes that are incurred as a result of Loans made on behalf of the Customer, and the Customer agrees that it shall reimburse the Bank for any taxes paid on Customer's behalf by the Bank.
(e) The In the event of any claims or litigation against the Bank that arise from operating under this Agreement, the Customer agrees to reimburse the Bank and to hold the Bank harmless from and against any and all losses, costs, expenses, damages, liabilities or claims, including reasonable fees and expenses of counsel incurred by the Bank which the Bank may sustain or incur or which may be asserted against the Bank by reason of or as a result of any action taken or omitted by the Bank in connection with operating under this Agreement (including, but not limited to, actions or omissions related to the lending of Securities to Borrowers or the holding or investment of Collateral or resulting from the Customer's failure to comply with its obligations under Section 11(a12(a) hereof), other than those losses, costs, expenses, damages, liabilities or claims arising out of the Bank's gross negligence, bad faith or willful misconduct, as adjudicated by a court of competent jurisdiction. The foregoing shall be a continuing obligation of the Customer and the Customer's successors and assigns, notwithstanding the termination of any Loans hereunder or of this Agreement. The Bank may charge any amounts to which it is entitled hereunder against the account in which the Customer's Securities are held.
Appears in 1 contract
Samples: Securities Lending Agreement (Wilshire Mutual Funds Inc)
Customer Responsibilities. (a) The Customer agrees to (i) promptly notify the Bank of any change that the Customer wishes to make to Exhibit BA, (ii) promptly notify the Bank if any information contained in the Customer Information Sheet becomes inaccurate or untrue and (iii) indemnify the Bank for any losses resulting from the Customer's ’s failure to adhere to the provisions of Subsection (a) of this Section 11.
(b) The Customer agrees that, to the extent any loss arising out of investments of Cash Collateral in the manner described in Subsection 3(g), results in a deficiency in the amount of Collateral available for return to a Borrower, the Customer shall pay to the Bank, on demand, cash in an amount equal to such deficiency.
(c) The Customer acknowledges that the Bank is acting as an agent on the Customer's ’s behalf in connection with the lending of the Customer's ’s assets and the investment of cash received as Collateral for such Loans. The Customer understands that it bears certain the risks of investment loss, including (i) any decline in value of Cash Collateral investments investment and (ii) subject to Section 12, loss resulting from any securities lending default by a Borrower.
(d) The Customer acknowledges that it is responsible for paying any taxes that are incurred as a result of Loans made on behalf of the Customer, and the Customer agrees that it shall reimburse the Bank for any taxes paid on Customer's ’s behalf by the Bank.
(e) The Customer agrees to reimburse the Bank and to hold the Bank harmless from and against any and all costs, expenses, damages, liabilities or claims, including reasonable fees and expenses of counsel incurred by the Bank which the Bank may sustain or incur or which may be asserted against the Bank by reason of or as a result of any action taken or omitted by the Bank in connection with operating under this Agreement (including, but not limited to, actions or omissions related to the lending of Securities to Borrowers or the holding or investment of Collateral or resulting from the Customer's ’s failure to comply with its obligations under Section 11(a) hereof), ) other than those costs, expenses, damages, liabilities or claims arising out of the Bank's gross ’s negligence, bad faith or willful misconductmisfeasance, as adjudicated by a court of competent jurisdiction. The foregoing shall be a continuing obligation of the Customer and the Customer's ’s successors and assigns, notwithstanding the termination of any Loans hereunder or of this Agreement. The Bank may charge any amounts to which it is entitled hereunder against the account in which the Customer's ’s Securities are held.
Appears in 1 contract
Customer Responsibilities. (a) The Customer agrees to (i) promptly notify the Bank of any change that the Customer wishes to make to Exhibit B, (ii) promptly notify the Bank if any information contained in the Customer Information Sheet attached hereto as Exhibit A and made a part hereof becomes inaccurate or untrue and (iii) indemnify the Bank for any losses resulting from the Customer's failure to adhere to the provisions of Subsection (a) of this Section 11.
(b) The Customer acknowledges that the Bank is acting as an agent on the Customer's behalf in connection with the lending of the Customer's assets and the investment of cash received as Collateral for such Loans. The Customer understands that it bears the risks of investment loss, including (i) any decline in value of Cash Collateral investments and (ii) subject to Section 12, loss resulting from any securities lending default by a Borrower.
(c) The Customer agrees that, to the extent any loss arising out of investments of Cash Collateral results in a deficiency in the amount of Collateral available for return to a Borrower, the Customer shall pay to the Bank, on demand, cash in an amount equal to such deficiency.
(c) The Customer acknowledges that the Bank is acting as an agent on the Customer's behalf in connection with the lending of the Customer's assets and the investment of cash received as Collateral for such Loans. The Customer understands that it bears certain risks of loss, including (i) any decline in value of Cash Collateral investments and (ii) subject to Section 12, loss resulting from any securities lending default by a Borrower.
(d) The Customer acknowledges that it is responsible for paying any taxes that are incurred as a result of Loans made on behalf of the Customer, and the Customer agrees that it shall reimburse the Bank for any taxes paid on Customer's behalf by the Bank.
(e) The In the event of any claims or litigation against the Bank that arise from operating under this Agreement, the Customer agrees to reimburse the Bank and to hold the Bank harmless from and against any and all losses, costs, expenses, damages, liabilities or claims, including reasonable fees and expenses of counsel incurred by the Bank which the Bank may sustain or incur or which may be asserted against the Bank by reason of or as a result of any action taken or omitted by the Bank in connection with operating under this Agreement (including, but not limited to, actions or omissions related to the lending of Securities to Borrowers or the holding or investment of Collateral or resulting from the Customer's failure to comply with its obligations under Section 11(a) hereof), other than those losses, costs, expenses, damages, liabilities or claims arising out of the Bank's gross negligence, bad faith or willful misconduct, as adjudicated by a court of competent jurisdiction. The foregoing shall be a continuing obligation of the Customer and the Customer's successors and assigns, notwithstanding the termination of any Loans hereunder or of this Agreement. The Bank may charge any amounts to which it is entitled hereunder against the account in which the Customer's Securities are held. The Bank will give prompt notice to Customer of any claim against which indemnification is sought.
Appears in 1 contract
Samples: Securities Lending Agreement (Advisors' Inner Circle Fund)
Customer Responsibilities. (a) The Customer agrees to (i) promptly notify the Bank of any change that the Customer wishes to make to Exhibit B, (ii) promptly notify the Bank if any information contained in the Customer Information Sheet becomes inaccurate or untrue and (iii) indemnify the Bank for any losses resulting from the Customer's ’s failure to adhere to the provisions of Subsection (a) of this Section 11.
(b) The Customer agrees that, to the extent any loss arising out of investments of Cash Collateral in the Selected Series results in a deficiency in the amount of Collateral available for return to a Borrower, the Customer shall pay to the Bank, on demand, cash in an amount equal to such deficiency.
(c) The Customer acknowledges that the Bank is acting as an agent on the Customer's ’s behalf in connection with the lending of the Customer's ’s assets and the investment of cash received as Collateral for such Loans. The Customer understands that it bears certain the risks of investment loss, including (i) any decline in value of Cash Collateral investments investment and (ii) subject to Section 12, loss resulting from any securities lending default by a Borrower.
(d) The Customer acknowledges that it is responsible for paying any taxes that are incurred as a result of Loans made on behalf of the Customer, and the Customer agrees that it shall reimburse the Bank for any taxes paid on Customer's ’s behalf by the Bank.
(e) The Customer agrees to reimburse the Bank and to hold the Bank harmless from and against any and all costs, expenses, damages, liabilities or claims, including reasonable fees and expenses of counsel incurred by the Bank which the Bank may sustain or incur or which may be asserted against the Bank by reason of or as a result of any action taken or omitted by the Bank in connection with operating under this Agreement (including, but not limited to, actions or omissions related to the lending of Securities to Borrowers or the holding or investment of Collateral or resulting from the Customer's ’s failure to comply with its obligations under Section 11(a) hereof), ) other than those costs, expenses, damages, liabilities or claims arising out of the Bank's ’s gross negligence, bad faith or willful misconductmisfeasance, as adjudicated by a court of competent jurisdiction. The foregoing shall be a continuing obligation of the Customer and the Customer's ’s successors and assigns, notwithstanding the termination of any Loans hereunder or of this Agreement. The Bank may charge any amounts to which it is entitled hereunder against the account in which the Customer's ’s Securities are held.
Appears in 1 contract
Customer Responsibilities. (a) The Customer agrees to (i) promptly notify the Bank of any change that the Customer wishes to make to Exhibit B, (ii) promptly notify the Bank if any information contained in the Customer Information Sheet attached hereto as Exhibit A and made a part hereof becomes inaccurate or untrue and (iii) indemnify the Bank for any losses resulting from the Customer's ’s failure to adhere to the provisions of Subsection (a) of this Section 11.
(b) The Customer acknowledges that the Bank is acting as an agent on the Customer’s behalf in connection with the lending of the Customer’s assets and the investment of cash received as Collateral for such Loans. The Customer understands that it bears the risks of investment loss, including (i) any decline in value of Cash Collateral investments and (ii) subject to Section 12, loss resulting from any securities lending default by a Borrower.
(c) The Customer agrees that, to the extent any loss arising out of investments of Cash Collateral results in a deficiency in the amount of Collateral available for return to a Borrower, the Customer shall pay to the Bank, on demand, cash in an amount equal to such deficiency.
(c) The Customer acknowledges that the Bank is acting as an agent on the Customer's behalf in connection with the lending of the Customer's assets and the investment of cash received as Collateral for such Loans. The Customer understands that it bears certain risks of loss, including (i) any decline in value of Cash Collateral investments and (ii) subject to Section 12, loss resulting from any securities lending default by a Borrower.
(d) The Customer acknowledges that it is responsible for paying any taxes that are incurred as a result of Loans made on behalf of the Customer, and the Customer agrees that it shall reimburse the Bank for any taxes paid on Customer's ’s behalf by the Bank.
(e) The In the event of any claims or litigation against the Bank that arise from operating under this Agreement, the Customer agrees to reimburse the Bank and to hold the Bank harmless from and against any and all losses, costs, expenses, damages, liabilities or claims, including reasonable fees and expenses of counsel incurred by the Bank which the Bank may sustain or incur or which may be asserted against the Bank by reason of or as a result of any action taken or omitted by the Bank in connection with operating under this Agreement (including, but not limited to, actions or omissions related to the lending of Securities to Borrowers or the holding or investment of Collateral or resulting from the Customer's ’s failure to comply with its obligations under Section 11(a) hereof), other than those losses, costs, expenses, damages, liabilities or claims arising out of the Bank's gross ’s negligence, bad faith or willful misconduct, as adjudicated by a court of competent jurisdiction. The foregoing shall be a continuing obligation of the Customer and the Customer's ’s successors and assigns, notwithstanding the termination of any Loans hereunder or of this Agreement. The Bank may charge any amounts to which it is entitled hereunder against the account in which the Customer's ’s Securities are held.
Appears in 1 contract
Samples: Securities Lending Agreement (Carillon Series Trust)
Customer Responsibilities. (a) The Customer agrees to (i) promptly notify the Bank of any change that the Customer wishes to make to Exhibit B, (ii) promptly notify the Bank if any information contained in the Customer Information Sheet becomes inaccurate or untrue and (iii) indemnify the Bank for any losses resulting from the Customer's ’s failure to adhere to the provisions of Subsection (a) of this Section 11.
(b) The Customer agrees that, to the extent any loss arising out of investments of Cash Collateral in the Selected Series results in a deficiency in the amount of Collateral available for return to a Borrower, the Customer shall pay to the Bank, on demand, cash in an amount equal to such deficiency.
(c) The Customer acknowledges that the Bank is acting as an agent on the Customer's ’s behalf in connection with the lending of the Customer's ’s assets and the investment of cash received as Collateral for such Loans. The Customer understands that it bears certain the risks of investment loss, including (i) any decline in value of Cash Collateral investments investment and (ii) subject to Section 12, loss resulting from any securities lending default by a Borrower.
(d) The Customer acknowledges that it is responsible for paying any taxes that are incurred as a result of Loans made on behalf of the Customer, and the Customer agrees that it shall reimburse the Bank for any taxes paid on Customer's ’s behalf by the Bank.
(e) The Customer agrees to reimburse the Bank and to hold the Bank harmless from and against any and all costs, expenses, damages, liabilities or claims, including reasonable fees and expenses of counsel incurred by the Bank which the Bank may sustain or incur or which may be asserted against the Bank by reason of or as a result of any action taken or omitted by the Bank in connection with operating under this Agreement (including, but not limited to, actions or omissions related to the lending of Securities to Borrowers Borrower(s) or the holding or investment of Collateral or resulting from the Customer's ’s failure to comply with its obligations under Section 11(a) hereof), ) other than those costs, expenses, damages, liabilities or claims arising out of the Bank's ’s gross negligence, bad faith or willful misconductmisfeasance, as adjudicated by a court of competent jurisdiction. The foregoing shall be a continuing obligation of the Customer and the Customer's ’s successors and assigns, notwithstanding the termination of any Loans hereunder or of this Agreement. The Bank may charge any amounts to which it is entitled hereunder against the account in which the Customer's ’s Securities are held.
Appears in 1 contract
Samples: Securities Lending Agreement (Kinetics Portfolios Trust)
Customer Responsibilities. (a) The Customer agrees to (i) promptly notify the Bank of any change that the Customer wishes to make to Exhibit BA, (ii) promptly notify the Bank if any information contained in the Customer Information Sheet becomes inaccurate or untrue and (iii) indemnify the Bank for any losses resulting from the Customer's failure to adhere to the provisions of Subsection (a) of this Section 11.
(b) The Customer agrees that, to the extent any loss arising out of investments of Cash Collateral results in a deficiency in the amount of Collateral available for return to a Borrower, the Customer shall pay to the Bank, on demand, cash in an amount equal to such deficiency.
(c) The Customer acknowledges that the Bank is acting as an agent on the Customer's behalf in connection with the lending of the Customer's ’s assets and the investment of cash received as Collateral for such Loans. The Customer understands that it bears certain the risks of loss, including (i) investment loss of any decline in value of Cash Collateral investments and (ii) subject to Section 12, loss resulting from any securities lending default by a Borrowerinvestments.
(d) The Customer acknowledges that it is responsible for paying any taxes that are incurred as a result of Loans made on behalf of the Customer, and the Customer agrees that it shall reimburse the Bank for any taxes paid on Customer's behalf by the Bank.
(e) The Customer agrees to reimburse the Bank and to hold the Bank harmless from and against any and all costs, expenses, damages, liabilities or claims, including reasonable fees and expenses of counsel incurred by the Bank which the Bank may sustain or incur or which may be asserted against the Bank by reason of or as a result of any action taken or omitted by the Bank in connection with operating under this Agreement (including, but not limited to, actions or omissions related to the lending of Securities to Borrowers or including the holding or investment of Collateral or resulting from the Customer's failure to comply with its obligations under Section 11(a11 (a) hereof), other than those costs, costs expenses, damages, liabilities or claims arising out of the Bank's gross negligence, bad faith or willful misconduct, as adjudicated by a court of competent jurisdiction. The foregoing shall be a continuing obligation of the Customer and the Customer's successors and assigns, notwithstanding the termination of any Loans hereunder or of this Agreement. The Bank may charge any amounts to which it is entitled hereunder against the account in which the Customer's Securities are held.
Appears in 1 contract
Customer Responsibilities. (a) The Customer agrees to (i) promptly notify the Bank of any change that the Customer wishes to make to Exhibit B, (ii) promptly notify the Bank if any information contained in the Customer Information Sheet becomes inaccurate or untrue and (iii) indemnify the Bank for any losses resulting from the Customer's failure to adhere to the provisions of Subsection (a) of this Section 11.
(b) The Customer agrees that, to the extent any loss arising out of investments of Cash Collateral results in a deficiency in the amount of Collateral available for return to a Borrower, the Customer shall pay to the Bank, on demand, cash in an amount equal to such deficiency.
(c) The Customer acknowledges that the Bank is acting as an agent on the Customer's behalf in connection with the lending of the Customer's assets and the investment of cash received as Collateral for such Loans. The Customer understands that it bears certain the risks of investment loss, including (i) any decline in value of Cash Collateral investments and (ii) subject to Section 12, loss resulting from any securities lending default by a Borrower.
(d) The Customer acknowledges that it is responsible for paying any taxes that are incurred as a result of Loans made on behalf of the Customer, and the Customer agrees that it shall reimburse the Bank for any taxes paid on Customer's behalf by the Bank.
(e) The Customer agrees to reimburse the Bank and to hold the Bank harmless from and against any and all direct costs, expenses, damages, liabilities or claims, including reasonable fees and expenses of counsel incurred by the Bank (but not consequential or punitive damages) which the Bank may sustain or incur or which may be asserted against the Bank by reason of or as a result of any action taken or omitted by the Bank in connection with operating under this Agreement (including, but not limited to, actions or omissions related to the lending of Securities to Borrowers or the holding or investment of Collateral or resulting from the Customer's failure to comply with its obligations under Section 11(a1l(a) hereof), other than those costs, expenses, damages, liabilities or claims arising out of the Bank's gross negligence, bad faith or willful misconduct, as adjudicated by a court of competent jurisdiction. The foregoing shall be a continuing obligation of the Customer and the Customer's successors and assigns, notwithstanding the termination of any Loans hereunder or of this Agreement. The After a claim has been adjudicated, the Bank may charge any amounts to which it is entitled hereunder based on such adjudication against the account in which the Customer's Securities are held.
Appears in 1 contract
Samples: Securities Lending Agreement (ETF Series Solutions)
Customer Responsibilities. (a) The Customer agrees to (i) promptly notify the Bank of any change that the Customer wishes to make to Exhibit B, (ii) promptly notify the Bank if any information contained in the Customer Information Sheet attached hereto as Exhibit A and made a part hereof becomes inaccurate or untrue and (iii) indemnify the Bank for any losses resulting from the Customer's ’s failure to adhere to the provisions of Subsection (a) of this Section 11.
(b) The Customer acknowledges that the Bank is acting as an agent on the Customer’s behalf in connection with the lending of the Customer’s assets and the investment of cash received as Collateral for such Loans. The Customer understands that it bears the risks of investment loss, including (i) any decline in value of Cash Collateral investments and (ii) subject to Section 12, loss resulting from any securities lending default by a Borrower.
(c) The Customer agrees that, to the extent any loss arising out of investments of Cash Collateral results in a deficiency in the amount of Collateral available for return to a Borrower, the Customer shall pay to the Bank, on demand, cash in an amount equal to such deficiency.
(c) The Customer acknowledges that the Bank is acting as an agent on the Customer's behalf in connection with the lending of the Customer's assets and the investment of cash received as Collateral for such Loans. The Customer understands that it bears certain risks of loss, including (i) any decline in value of Cash Collateral investments and (ii) subject to Section 12, loss resulting from any securities lending default by a Borrower.
(d) The Customer acknowledges that it is responsible for paying any taxes that are incurred as a result of Loans made on behalf of the Customer, and the Customer agrees that it shall reimburse the Bank for any taxes paid on Customer's ’s behalf by the Bank.
(e) The In the event of any claims or litigation against the Bank that arise from operating under this Agreement, the Customer agrees to reimburse the Bank and to hold the Bank harmless from and against any and all losses, costs, expenses, damages, liabilities or claims, including reasonable fees and expenses of counsel incurred by the Bank which the Bank may sustain or incur or which may be asserted against the Bank by reason of or as a result of any action taken or omitted by the Bank in connection with operating under this Agreement (including, but not limited to, actions or omissions related to the lending of Securities to Borrowers or the holding or investment of Collateral or resulting from the Customer's ’s failure to comply with its obligations under Section 11(a) hereof), other than those losses, costs, expenses, damages, liabilities or claims arising out of the Bank's ’s gross negligence, bad faith or willful misconduct, as adjudicated by a court of competent jurisdiction. The foregoing shall be a continuing obligation of the Customer and the Customer's ’s successors and assigns, notwithstanding the termination of any Loans hereunder or of this Agreement. The Bank may charge any amounts to which it is entitled hereunder against the account in which the Customer's ’s Securities are held.
Appears in 1 contract
Samples: Securities Lending Agreement (Advisors Preferred Trust)
Customer Responsibilities. (a) The Customer agrees to (i) promptly notify the Bank of any change that the Customer wishes to make to Exhibit B, (ii) promptly notify the Bank if any information contained in the Customer Information Sheet becomes inaccurate or untrue and (iii) indemnify the Bank for any losses resulting from the Customer's ’s failure to adhere to the provisions of Subsection (a) of this Section 11.
(b) The Customer agrees that, to the extent any loss arising out of investments of Cash Collateral results in a deficiency in the amount of Collateral available for return return
to a Borrower, the Customer shall pay to the Bank, on demand, cash in an amount equal to such deficiency.
(c) The Customer acknowledges that the Bank is acting as an agent on the Customer's ’s behalf in connection with the lending of the Customer's ’s assets and the investment of cash received as Collateral for such Loans. The Customer understands that it bears certain the risks of investment loss, including (i) any decline in value of Cash Collateral investments and (ii) subject to Section 12, loss resulting from any securities lending default by a Borrower.
(d) The Customer acknowledges that it is responsible for paying any taxes that are incurred as a result of Loans made on behalf of the Customer, and the Customer agrees that it shall reimburse the Bank for any taxes paid on Customer's ’s behalf by the Bank.
(e) The Customer agrees to reimburse the Bank and to hold the Bank harmless from and against any and all costs, expenses, damages, liabilities or claims, including reasonable fees and expenses of counsel incurred by the Bank which the Bank may sustain or incur or which may be asserted against the Bank by reason of or as a result of any action taken or omitted by the Bank in connection with operating under this Agreement (including, but not limited to, actions or omissions related to the lending of Securities to Borrowers or the holding or investment of Collateral or resulting from the Customer's ’s failure to comply with its obligations under Section 11(a) hereof), other than those costs, expenses, damages, liabilities or claims arising out of the Bank's ’s gross negligence, bad faith or willful misconduct, as adjudicated by a court of competent jurisdiction. The foregoing shall be a continuing obligation of the Customer and the Customer's ’s successors and assigns, notwithstanding the termination of any Loans hereunder or of this Agreement. The Bank may charge any amounts to which it is entitled hereunder against the account in which the Customer's ’s Securities are held.
Appears in 1 contract
Samples: Securities Lending Agreement (Absolute Shares Trust)