Common use of Indemnification of Lender in respect of Securities Clause in Contracts

Indemnification of Lender in respect of Securities. If the Borrower in respect of any Loan effected pursuant hereto and pursuant to the applicable MSLA fails to return any Securities on Loan to Chase for Lender's account when due thereunder (the "Return Date") which is the date of default, then Chase shall, at its expense (subject to paragraph (d) hereof) and within one (1) Business Day of the Return Date, credit Lender's account in Dollars with the difference ("Difference") (where a positive number), if any, between (x) the market value of such lent Securities on the Return Date (including, in the case of debt Securities, accrued but unpaid interest), and (y) in the case of Loans collateralized by (i) Cash Collateral, the greater of (A) the Market Value of the Cash Collateral on the date of initial pledge as adjusted for any subsequent marks-to-market through the Return Date and (B) the Market Value of Cash Collateral investments on the Return Date, (ii) non-Cash Collateral comprising securities Collateral, the greater of the Market Value of such Collateral on the (A) Business Day immediately preceding the Return Date and (B) Return Date, or (iii) non-Cash Collateral comprising Letter of Credit Collateral, the Market Value of the Letter of Credit Collateral on the date of initial pledge as adjusted for any subsequent marks-to-market through the Return Date. Market Value shall be determined by Chase in accordance with the applicable MSLA, including the computation of Dollar equivalents where Securities on Loan and/or Collateral (and Proceeds) are denominated in a currency other than Dollars. Where Cash Collateral and non-Cash Collateral have each been allocated to a Loan as of the Return Date, the Difference payable by Chase shall be computed in accordance with the foregoing as if there had been two Loans in effect on the Return Date, one collateralized by Cash Collateral and the other collateralized by non-Cash Collateral. In lieu of paying Lender the Difference, Chase may, at its sole option and expense, purchase for Lender's account ("Buy-in") replacement securities of the same issue, type, class, and series as that of the Securities on Loan.

Indemnification of Lender in respect of Securities. If the Borrower in respect of any Loan effected pursuant hereto and pursuant to the applicable MSLA fails to return any Securities on Loan to Chase for Lender's account when due thereunder (the "Return Date") which is the date of default, then Chase shall, at its expense (subject to paragraph (d) hereof) and within one (1) Business Day of the Return Date, credit Lender's account in Dollars with the difference ("Difference") (where a positive number), if any, between (x) the market value of such lent Securities on the Return Date (including, in the case of debt Securities, accrued but unpaid interest), and (y) in the case of Loans collateralized by (i) Cash Collateral, the greater of (A) the Market Value of the Cash Collateral on the date of initial pledge as adjusted for any subsequent marks-to-market through the Return Date and (B) the Market Value of Cash Collateral investments on the Return Date, (ii) non-Cash Collateral comprising securities Collateral, the greater of the Market Value of such Collateral on the (A) Business Day immediately preceding the Return Date and (B) Return Date, or (iii) non-Cash Collateral comprising Letter of Credit Collateral, the Market Value of the Letter of Credit Collateral on the date of initial pledge as adjusted for any subsequent marks-to-market through the Return Date. Market Value shall be determined by Chase in accordance with the applicable MSLA, including the computation of Dollar equivalents where Securities on Loan and/or Collateral (and Proceeds) are denominated in a currency other than Dollars. Where Cash Collateral and non-Cash Collateral have each been allocated to a Loan as of the Return Date, the Difference payable by Chase shall be computed in accordance with the foregoing as if there had been two Loans in effect on the Return Date, one collateralized by Cash Collateral and the other collateralized by non-Cash Collateral. In lieu of paying Lender the Difference, Chase may, at its sole option and expense, purchase for Lender's account ("Buy-in") replacement securities of the same issue, type, class, and series as that of the Securities on Loan.'s

Indemnification of Lender in respect of Securities. If the Borrower in respect of any Loan effected pursuant hereto and pursuant to the applicable MSLA fails to return any Securities on Loan to Chase for Lender's account when due thereunder (the "Return Date") which is the date of default, then Chase shall, at its expense (subject to paragraph (d) hereof) and within one (1) Business Day of the Return Date, credit Lender's account in Dollars with the difference ("Difference") (where a positive number), if any, between (x) the market value of such lent Securities on the Return Date (including, in the case of debt Securities, accrued but unpaid interest), and (y) in the case of Loans collateralized by (i) Cash Collateral, the greater of (A) the Market Value of the Cash Collateral on the date of initial pledge as adjusted for any subsequent marks-to-market through the Return Date and (B) the Market Value of Cash Collateral investments on the Return Date, (ii) non-Cash Collateral comprising securities Collateral, the greater of the Market Value of such Collateral on the (A) Business Day immediately preceding the Return Date and (B) Return Date, or (iii) non-Cash Collateral comprising Letter of Credit Collateral, the Market Value of the Letter of Credit Collateral on the date of initial pledge as adjusted for any subsequent marks-to-market through the Return Date. Market Value shall be determined by Chase in accordance with the applicable MSLA, including the computation of Dollar equivalents where Securities on Loan and/or Collateral (and Proceeds) are denominated in a currency other than Dollars. Where Cash Collateral and non-Cash Collateral have each been allocated to a Loan as of the Return Date, the Difference payable by Chase shall be computed in accordance with the foregoing as if there had been two Loans in effect on the Return Date, one collateralized by Cash Collateral and the other collateralized by non-Cash Collateral. In lieu of paying Lender the Difference, Chase may, at its sole option and expense, purchase for Lender's account ("Buy-in") replacement securities of the same issue, type, class, and series as that of the Securities on Loan.. 11 (d)