Holding and Administration of Collateral. All Collateral consisting of cash and securities shall be received, held and administered by Lending Agent for the benefit of a Participating Fund in the applicable Custody Account or other account established for the purpose of holding Collateral. Collateral consisting of cash shall be placed in an investment listed in the attached Schedule 4 ("Permitted Investments") in accordance with Section 8 herein. To the extent permitted under the Investment Company Act of 1940, and as interpreted by the staff of the Securities and Exchange Commission, or pursuant to any exemptive order thereunder, cash Collateral may be commingled for investment purposes. Collateral consisting of letters of credit shall be received, held and administered by Lending Agent for the benefit of a Participating Fund in accordance with the terms of this Agreement.
Appears in 6 contracts
Samples: Securities Lending Agency Agreement (Wells Fargo Funds Trust), Securities Lending Agency Agreement (Wells Fargo Funds Trust), Securities Lending Agency Agreement (Wells Fargo Variable Trust)
