Common use of Event of Default by Lender Clause in Contracts

Event of Default by Lender. The following shall constitute Events of Default by Lender: (a) If Lender shall fail to deliver Securities to Borrower in accordance with paragraph 1 hereof. (b) If Lender fails to release to Borrower such portion of the Collateral as Borrower shall have demanded and to which Borrower shall be entitled pursuant to paragraph 4(b) hereof. (c) If Lender fails to return the Collateral or any Letter of Credit given as Collateral under this Agreement to Borrower as provided in paragraph 5(b) hereof. (d) If Lender fails to pay the amount of any interest, dividend or other distribution as required by paragraph 6(b) hereof and such failure shall continue for more than one business day after notice from Borrower thereof. (e) If Lender fails to credit Borrower’s account with that portion of the income earned on the Collateral, if any, to which Borrower may be entitled in accordance with the agreement of the parties as provided by paragraph 7 hereof. (f) If Lender shall make a general assignment for the benefit of creditors, or shall admit in writing to its inability to pay its debts as they become due, or shall file a petition in bankruptcy or shall be adjudicated as bankrupt or insolvent, or shall file a petition seeking any reorganization, arrangement, composition, readjustment, liquidation, dissolution or similar relief under any present or future statute, law or regulation, or shall seek consent to or acquiesce in the appointment of any trustee, receiver or liquidator of Lender or any material portion of Lender. (g) If any petition is filed against Lender in any court or before any agency alleging the bankruptcy or insolvency of Lender or seeking any reorganization, dissolution or similar relief under any present or future statute, law or regulation, or the appointment of a receiver or trustee of all or a portion of Lender’s property. (h) If Lender shall fail to conform or comply with any other provision hereof and such failure shall continue for more than five days after notice from Borrower.

Appears in 2 contracts

Samples: Securities Lending Agency Agreement (Barclays Global Investors Funds), Securities Lending Agency Agreement (Master Investment Portfolio)

AutoNDA by SimpleDocs

Event of Default by Lender. The following shall constitute Events of Default by Lender: (a) If Lender shall fail to deliver Securities to Borrower in accordance with paragraph 1 hereof. (b) If Lender fails to release to Borrower such portion of the Collateral as Borrower shall have demanded and to which Borrower shall be entitled pursuant to paragraph 4(b) hereof. (c) If Lender fails to return the Collateral or any Letter of Credit given as Collateral under this Agreement to Borrower as provided in paragraph 5(b) hereof. (d) If Lender fails to pay the amount of any interest, dividend or other distribution as required by paragraph 6(b) hereof and such failure shall continue for more than one business day after notice from Borrower thereof. (e) If Lender fails to credit Borrower’s account with that portion of the income earned on the Collateral, if any, to which Borrower may be entitled in accordance with the agreement of the parties as provided by paragraph 7 hereof. (fe) If Lender shall make a general assignment for the benefit of creditors, or shall admit in writing to its inability to pay its debts as they become due, or shall file a petition in bankruptcy or shall be adjudicated as bankrupt or insolvent, or shall file a petition seeking any reorganization, reorganization arrangement, composition, readjustment, liquidation, dissolution or similar relief under any present or future statute, law or regulation, or shall seek consent to or acquiesce in the appointment of any trustee, receiver or liquidator of Lender or any material portion of Lender. (gf) If any petition is filed against Lender in any court or before any agency alleging the bankruptcy or insolvency of Lender or seeking any reorganization, dissolution or similar relief under any present or future statute, law or regulation, or the appointment of a receiver or trustee of all or a portion of Lender’s property. (hg) If Lender shall fail to conform or comply with any other provision hereof and such failure shall continue for more than five days after notice from Borrower.

Appears in 2 contracts

Samples: Securities Lending Agency Agreement (Barclays Global Investors Funds), Securities Lending Agency Agreement (Master Investment Portfolio)

Event of Default by Lender. The following shall constitute Events of Default by Lender: (a) If Lender shall fail to deliver Securities to Borrower in accordance with paragraph 1 hereof. (b) If Lender fails to release to Borrower such portion of the Collateral as Borrower shall have demanded and to which Borrower shall be entitled pursuant to paragraph 4(b) hereof. (c) If Lender fails to return the Collateral or any Letter of Credit given as Collateral under this Agreement to Borrower as provided in paragraph 5(b) hereof. (d) If Lender fails to pay the amount of any interest, dividend or other distribution as required by paragraph 6(b) hereof and such failure shall continue for more than one business day after notice from Borrower thereof. (e) If Lender fails to credit Borrower’s 's account with that portion of the income earned on the Collateral, if any, to which Borrower may be entitled in accordance with the agreement of the parties as provided by paragraph 7 hereof. (fe) If Lender shall make a general assignment for the benefit of creditors, or shall admit in writing to its inability to pay its debts as they become due, or shall file a petition in bankruptcy or shall be adjudicated as bankrupt or insolvent, or shall file a petition seeking any reorganization, reorganization arrangement, composition, readjustment, liquidation, dissolution or similar relief under any present or future statute, law or regulation, or shall seek consent to or acquiesce in the appointment of any trustee, receiver or liquidator of Lender or any material portion of Lender. (gf) If any petition is filed against Lender in any court or before any agency alleging the bankruptcy or insolvency of Lender or seeking any reorganization, dissolution or similar relief under any present or future statute, law or regulation, or the appointment of a receiver or trustee of all or a portion of Lender’s 's property. (hg) If Lender shall fail to conform or comply with any other provision hereof and such failure shall continue for more than five days after notice from Borrower.

Appears in 1 contract

Samples: Securities Lending Agency Agreement (Ishares Trust)

AutoNDA by SimpleDocs

Event of Default by Lender. The following shall constitute Events of Default by Lender: (a) If Lender shall fail to deliver Securities to Borrower in accordance with paragraph 1 hereof. (b) If Lender fails to release to Borrower such portion of the Collateral as Borrower shall have demanded and to which Borrower shall be entitled pursuant to paragraph 4(b) hereof. (c) If Lender fails to return the Collateral or any Letter of Credit given as Collateral under this Agreement to Borrower as provided in paragraph 5(b) hereof. (d) If Lender fails to pay the amount of any interest, dividend or other distribution as required by paragraph 6(b) hereof and such failure shall continue for more than one business day after notice from Borrower thereof. (e) If Lender fails to credit Borrower’s 's account with that portion of the income earned on the Collateral, if any, to which Borrower may be entitled in accordance with the agreement of the parties as provided by paragraph 7 hereof. (f) If Lender shall make a general assignment for the benefit of creditors, or shall admit in writing to its inability to pay its debts as they become due, or shall file a petition in bankruptcy or shall be adjudicated as bankrupt or insolvent, or shall file a petition seeking any reorganization, arrangement, composition, readjustment, liquidation, dissolution or similar relief under any present or future statute, law or regulation, or shall seek consent to or acquiesce in the appointment of any trustee, receiver or liquidator of Lender or any material portion of Lender. (g) If any petition is filed against Lender in any court or before any agency alleging the bankruptcy or insolvency of Lender or seeking any reorganization, dissolution or similar relief under any present or future statute, law or regulation, or the appointment of a receiver or trustee of all or a portion of Lender’s 's property. (h) If Lender shall fail to conform or comply with any other provision hereof and such failure shall continue for more than five days after notice from Borrower.

Appears in 1 contract

Samples: Securities Lending Agency Agreement (Ishares Trust)

Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!