Impossibility of Replacement/Liquidated Damages. If BBH&Co. determines that a Buy-In is commercially impracticable, BBH&Co. shall, in lieu of effecting a Buy-In, pay to the affected Fund an amount equal to the market value of the loaned securities determined at the close of business on the date of the Default Event to be reduced by any shortfall in the Collateral Value that is due to the reinvestment risk borne by the Fund pursuant to Section 7.2.
Appears in 5 contracts
Samples: Securities Lending Agency Agreement (Heartland Group Inc), Securities Lending Agency Agreement (USCF ETF Trust), Securities Lending Agency Agreement (PNC Funds)
Impossibility of Replacement/Liquidated Damages. If BBH&Co. determines that a Buy-In is commercially impracticable, BBH&Co. shall, in lieu of effecting a Buy-In, pay to the affected Fund an amount equal to the market value of the loaned securities determined at the close of business on the date of the Default Event to be reduced by any shortfall in the Collateral Value that is due to the reinvestment risk borne by the Fund pursuant to Section 7.2this Agreement.
Appears in 3 contracts
Samples: Novation and Amendment Agreement (Touchstone Strategic Trust), Novation and Amendment Agreement (Touchstone Variable Series Trust), Novation and Amendment Agreement (Touchstone Institutional Funds Trust)
Impossibility of Replacement/Liquidated Damages. If BBH&Co. determines that a Buy-In is commercially impracticableimpracticable pursuant to Section 8.1, BBH&Co. shall, in lieu of effecting a Buy-In, pay to the affected Fund an amount equal to the market value of the loaned securities determined at the close of business on the date of the Default Event to be reduced by any shortfall in the Collateral Value that is due to the reinvestment risk borne by the Fund pursuant to Section 7.2.
Appears in 1 contract
Samples: Securities Lending Agency Agreement (American Beacon Funds)
