Common use of Designation of Securities for Lending; Delivery of Lent Securities Clause in Contracts

Designation of Securities for Lending; Delivery of Lent Securities. U.S. Securities in Bank’s custody shall be as designated from time to time to Bank by Lender as provided in the Service Level Document. U.S. Securities eligible for lending shall be as shown on JPM VIEWS, it being understood that Lender shall designate Agent as an “Authorized Third party” under the applicable licensing agreement so that Agent has access to JPM VIEWS. Bank shall, in accordance with Instructions from Agent, deliver to Borrowers Securities from an Account against payment via DTC and shall reflect the status of such Securities on its records. In connection with the recall of a Security from Loan, Bank shall reallocate an on Loan position between Accounts only pursuant to Instructions from Agent. For purposes of clarity, it is acknowledged and agreed that the prices assigned to Securities by Bank for custody purposes are not designed to be used for any other purpose, including, but not limited to, valuing securities for purposes of lending or collateralization. If Agent, nevertheless elects to rely on the same for any such other purpose, Bank shall have no liability therefor. Until such time as Bank commences providing Agent with an automated trade date file, Bank shall provide Agent a manual “contractual date” file along with a “pending trade” file of sales of Securities whether or not on Loan (which latter file shall reflect failed trades, identifiable by having a settlement date prior to the file date). Bank shall advise Agent prior to commencing use of the automated file.