Income and Related Payments to Client. The Lending Agent shall instruct each Approved Borrower which is a party to an SLA to remit any payment in-lieu-of the interest or other distribution on loaned securities (“Loan Substitute Payment”) for the account of the Client. The Lending Agent shall also instruct each Approved Borrower which is a party to an SLA to remit any other fees payable on loaned securities to the Lending Agent for the account of the Client, and the Lending Agent shall receive, hold and administer the same for the account of the Client.
Appears in 30 contracts
Samples: Securities Lending Agency Agreement (BlackRock Series Fund II, Inc.), Securities Lending Agency Agreement (Blackrock Debt Strategies Fund, Inc.), Securities Lending Agency Agreement (Blackrock Floating Rate Income Trust)
Income and Related Payments to Client. The Lending Agent shall instruct each Approved Borrower which is a party to an a SLA to remit any payment in-lieu-of the interest or other distribution on loaned securities (“Loan Substitute Payment”) for the account of the Client. The Lending Agent shall also instruct each Approved Borrower which is a party to an a SLA to remit any other fees payable on loaned securities to the Lending Agent for the account of the Client, and the Lending Agent shall receive, hold and administer the same for the account of the Client.
Appears in 26 contracts
Samples: Securities Lending Agency Agreement, Administrative Services Agreement (Blackrock Muniyield New Jersey Fund, Inc.), Securities Lending Agency Agreement (BlackRock Multi-Sector Opportunities Trust II)
Income and Related Payments to Client. The Lending Agent shall instruct each Approved Borrower which is a party to an SLA to remit any payment in-lieu-of the interest or other distribution on loaned securities (“"Loan Substitute Payment”") for the account of the Client. The Lending Agent shall also instruct each Approved Borrower which is a party to an SLA to remit any other fees payable on loaned securities to the Lending Agent for the account of the Client, and the Lending Agent shall receive, hold and administer the same for the account of the Client.
Appears in 1 contract
Samples: Securities Lending Agency Agreement (BlackRock Credit Strategies Fund)
