Indemnification of Lender in respect of Securities. (a) In addition to the actions described in Section 3.1 and after the expiration of any reasonable and customary grace period except in cases relating to the solvency of Borrower, if any Borrower with respect to any Loan effected under this Agreement fails to return any Securities on Loan when due under the applicable MSLA which is the date an Event of Default shall have occurred under the applicable MSLA (the “Return Date”), then J.X. Xxxxxx shall, at its expense, but subject to Section 3.2(b) of this Agreement, deposit replacement Securities of the same issue, type, class and series to the applicable Lending Account, as soon as practicable. If J.X. Xxxxxx is unable to obtain replacement Securities or to the extent odd lot purchases of replacement Securities would be required, J.X. Xxxxxx shall, at its expense, but subject to Section 3.2(b) credit Lxxxxx’s cash account in Dollars with the Market Value of such Securities on Loan on the credit date. (b) Notwithstanding any other provision of this Section 3.2, J.X. Xxxxxx’x obligation to credit Lxxxxx’s cash account with cash or the Lending Account with replacement Securities shall be reduced by an amount equal to the extent of any shortfall in the Collateral which is attributable to one or more of the following: (i) a decrease in the market value of Authorized Investments; (ii) the act or omission or insolvency of any Securities Depository or Tri-party Institution, other than J.X. Xxxxxx or any of its Affiliates in the case of insolvency of a Tri-party Institution; or (iii) J.X. Xxxxxx’x reliance on incorrect prices of the lent Securities or Collateral provided by a pricing vendor as described in Section 7.5 of this Agreement, provided, however, that J.X. Xxxxxx shall have met its standard of care with respect to reviewing the reasonableness of any such price.
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Indemnification of Lender in respect of Securities. (a) In addition to the actions described in Section 3.1 and after the expiration of any reasonable and customary grace period except in cases relating to the solvency of Borrower, if any Borrower with respect to any Loan effected under this Agreement fails to return any Securities on Loan when due under the applicable MSLA which is the date an Event of Default shall have occurred under the applicable MSLA (the “Return DateXxxx”), then J.X. X.X. Xxxxxx shall, at its expense, but subject to Section 3.2(b) of this Agreement, deposit replacement Securities of the same issue, type, class and series to the applicable Lending Account, as soon as practicablepracticable but in any case within three Business Days following the Return Date. If J.X. X.X. Xxxxxx is unable to obtain replacement Securities or to the extent odd lot purchases of replacement Securities would be required, J.X. . X.X. Xxxxxx shall, at its expense, but subject to Section 3.2(b) of this Agreement credit LxxxxxLender’s cash account in Dollars with the Market Value of such Securities on Loan on the credit date.
(b) Notwithstanding any other provision of this Section 3.2, J.X. . X.X. Xxxxxx’x obligation to credit LxxxxxLender’s cash account with cash or the Lending Account with replacement Securities shall be reduced by an amount equal to the extent of any shortfall in the Collateral which is attributable to one or more of the following:
(i) a decrease in the market value of Authorized InvestmentsInvestments (other than Indemnified Repo as described in the Indemnified Repo Addendum attached to this Agreement);
(ii) the act or omission or insolvency of any Securities Depository or Tri-Tri- party Institution, other than J.X. X.X. Xxxxxx or any of its Affiliates in the case of insolvency of a Tri-Party Institution, provided however, that X.X. Xxxxxx shall have met its standard of care described in Section 7.1(a) hereto and complied with its obligations in the Tri-party InstitutionAgreement; or
(iii) J.X. X.X. Xxxxxx’x reliance on incorrect prices of the lent Securities or Collateral provided by a pricing vendor as described in Section 7.5 of this Agreement, provided, however, that J.X. X.X. Xxxxxx shall have met its standard of care as described in Section 7.1(a) with respect to reviewing the reasonableness of any such price.. Securities Lending Agreement - JPMCB New York - General April 2015 Version
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Indemnification of Lender in respect of Securities. (a) In addition to the actions described in Section 3.1 and after the expiration of any reasonable and customary grace period except in cases relating to the solvency of a Borrower, if any Borrower with respect to any Loan effected under this Agreement fails to return any Securities on Loan when due under the applicable MSLA which is the date an Event of Default shall have occurred under the applicable MSLA (the “Return Date”), then J.X. Xxxxxx shall as soon as practicable, liquidate the Collateral on behalf of the Lender pursuant to the Lender’s rights under the applicable MSLA and implement the following steps to ensure that the Lender is returned its Securities or the economic value thereof:
(i) J.X. Xxxxxx shall, at its expenseas soon as practicable, but subject to Section 3.2(b) of this Agreement, deposit purchase replacement Securities of the same issue, type, class and series and deposit such Securities to the applicable Lending Account. J.X. Xxxxxx shall effect such purchase (A) on the Lender’s behalf, as soon as practicable. If by applying the proceeds from the liquidation of Collateral and any Cash Collateral to the settlement of such purchase and (B) at its own expense, only to the extent the proceeds from the liquidation of Collateral and the Cash Collateral are insufficient or unavailable to settle such purchase of replacement Securities;
(ii) J.X. Xxxxxx shall, to the extent that J.X. Xxxxxx is unable to obtain successfully place an order to purchase replacement Securities or after making an effort in a reasonable manner to do so for two Business Days, credit the extent odd lot purchases of replacement Securities would be required, J.X. Xxxxxx shall, at its expense, but subject to Section 3.2(b) credit LxxxxxLender’s cash account in Dollars with an amount equal to the Market Value of the unreplaced Securities as of the Return Date. J.X. Xxxxxx may effect such crediting: (A) by transfer Non-Custodial Securities on Loan on Lending Agreement - JPMCB New York - General May 2016 of any remaining proceeds from the credit dateliquidation of Collateral and any Cash Collateral, or (B) at its own expense, to the extent the remaining proceeds from the liquidation of Collateral and Cash Collateral are less than the Market Value of the unreplaced Securities as of the Return Date.
(b) Notwithstanding any other provision of this Section 3.2, J.X. Xxxxxx’x obligation to to, at its own expense, credit LxxxxxLender’s cash account with cash or the Lending Account with replacement Securities shall be reduced by an amount equal to the extent of any shortfall in the Collateral which is attributable to one or more of the following:
(i) a decrease in the market value of Authorized InvestmentsInvestments (other than Indemnified Repo as described in the Indemnified Repo Addendum attached to this Agreement);
(ii) the act or omission or insolvency of any Securities Depository or Tri-party Institution, Institution (other than in the case of insolvency of J.X. Xxxxxx or any of its Affiliates in the case of insolvency of a Tri-party InstitutionAffiliates); or
(iii) J.X. Xxxxxx’x reliance on incorrect prices of the lent Securities or Collateral provided by a pricing vendor as described in Section 7.5 of this Agreement, provided, however, that J.X. Xxxxxx shall have met its standard of care as described in Section 7.1(a) with respect to reviewing the reasonableness of any such price.
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Samples: Non Custodial Securities Lending Agreement (Brighthouse Funds Trust II)
Indemnification of Lender in respect of Securities. (a) In addition to the actions described in Section 3.1 and after the expiration of any reasonable and customary grace period except in cases relating to the solvency of a Borrower, if any Borrower with respect to any Loan effected under this Agreement fails to return any Securities on Loan when due under the applicable MSLA which is the date an Event of Default shall have occurred under the applicable MSLA (the “Return Date”), then J.X. X.X. Xxxxxx shall, at as soon as practicable, liquidate the Collateral on behalf of the Lender pursuant to the Lender’s rights under the applicable MSLA and implement the following steps to ensure that the Lender is returned its expenseSecurities or the economic value thereof:
(i) X.X. Xxxxxx shall, but subject to Section 3.2(b) of this Agreementas soon as practicable, deposit purchase replacement Securities of the same issue, type, class and series and deposit such Securities to the applicable Lending Account. X.X. Xxxxxx shall effect such purchase (A) on the Lender’s behalf, as soon as practicable. If J.X. by applying the proceeds from the liquidation of Collateral and any Cash Collateral to the settlement of such purchase and (B) at its own expense, only to the extent the proceeds from the liquidation of Collateral and the Cash Collateral are insufficient or unavailable to settle such purchase of replacement Securities;
(ii) X.X. Xxxxxx may, to the extent that X.X. Xxxxxx is unable to obtain successfully place an order to purchase replacement Securities or after making an effort in a reasonable manner to do so for two Business Days, credit the extent odd lot purchases of replacement Securities would be required, J.X. Xxxxxx shall, at its expense, but subject to Section 3.2(b) credit LxxxxxLender’s cash account in Dollars with an amount equal to the Market Value of the unreplaced Securities as of the Return Date. X.X. Xxxxxx may effect such crediting: (A) by transfer of any remaining proceeds from the liquidation of Collateral and any Cash Collateral, or (B) at its own expense, to the extent the remaining proceeds from the liquidation of Collateral and Cash Collateral are less than the Market Value of the unreplaced Securities on Loan on as of the credit dateReturn Date.
(b) Notwithstanding any other provision of this Section 3.2, J.X. X.X. Xxxxxx’x obligation to to, at its own expense, credit LxxxxxLender’s cash account with cash or the Lending Account with replacement Securities shall be reduced by an amount equal to the extent of any shortfall in the Collateral which is attributable to one or more of the following:
(i) a decrease in the market value of Authorized Investments;; Securities Lending Agreement - JPMCB New York - General - June 2018 Version 17
(ii) the act or omission or insolvency of any Securities Depository or Tri-party Institution, Institution (other than J.X. Xxxxxx or any of its Affiliates in the case of insolvency of a Tri-party InstitutionX.X. Xxxxxx or any of its Affiliates); or
(iii) J.X. X.X. Xxxxxx’x reliance on incorrect prices of the lent Securities or Collateral provided by a pricing vendor as described in Section 7.5 of this Agreement, provided, however, that J.X. X.X. Xxxxxx shall have met its standard of care as described in Section 7.1(a) with respect to reviewing the reasonableness of any such price.
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Indemnification of Lender in respect of Securities. (a) In addition to the actions described in Section 3.1 and after the expiration of any reasonable and customary grace period except in cases relating to the solvency of a Borrower, if any Borrower with respect to any Loan effected under this Agreement fails to return any Securities on Loan when due under the applicable MSLA which is the date an Event of Default shall have occurred under the applicable MSLA (the “Return Date”), then J.X. X.X. Xxxxxx shall as soon as practicable, liquidate the Collateral on behalf of the Lender pursuant to the Lender’s rights under the applicable MSLA and implement the following steps to ensure that the Lender is returned its Securities or the economic value thereof:
(i) X.X. Xxxxxx shall, at its expenseas soon as practicable, but subject to Section 3.2(b) of this Agreement, deposit purchase replacement Securities of the same issue, type, class and series and deposit such Securities to the applicable Lending Account. X.X. Xxxxxx shall effect such purchase (A) on the Lender’s behalf, as soon as practicable. If J.X. by applying the proceeds from the liquidation of Collateral and any Cash Collateral to the settlement of such purchase and (B) at its own expense, only to the extent the proceeds from the liquidation of Collateral and the Cash Collateral are insufficient or unavailable to settle such purchase of replacement Securities;
(ii) X.X. Xxxxxx shall, to the extent that X.X. Xxxxxx is unable to obtain successfully place an order to purchase replacement Securities or after making an effort in a reasonable manner to do so for two Business Days, credit the extent odd lot purchases of replacement Securities would be required, J.X. Xxxxxx shall, at its expense, but subject to Section 3.2(b) credit LxxxxxLender’s cash account in Dollars with an amount equal to the Market Value of the unreplaced Securities as of the Return Date. X.X. Xxxxxx may effect such crediting: (A) by transfer of any remaining proceeds from the liquidation of Collateral and any Cash Collateral, or (B) at its own expense, to the extent the remaining proceeds from the liquidation of Collateral and Cash Collateral are less than the Market Value of the unreplaced Securities on Loan on as of the credit dateReturn Date.
(b) Notwithstanding any other provision of this Section 3.2, J.X. X.X. Xxxxxx’x obligation to to, at its own expense, credit LxxxxxLender’s cash account with cash or the Lending Account with replacement Securities shall be reduced by an amount equal to the extent of any shortfall in the Collateral which is attributable to one or more of the following:
(i) a decrease in the market value of Authorized InvestmentsInvestments (other than Indemnified Repo as described in the Indemnified Repo Addendum attached to this Agreement);
(ii) the act or omission or insolvency of any Securities Depository or Tri-party Institution, Institution (other than J.X. Xxxxxx or any of its Affiliates in the case of insolvency of a Tri-party InstitutionX.X. Xxxxxx or any of its Affiliates); or
(iii) J.X. X.X. Xxxxxx’x reliance on incorrect prices of the lent Securities or Collateral provided by a pricing vendor as described in Section 7.5 of this Agreement, provided, however, that J.X. X.X. Xxxxxx shall have met its standard of care as described in Section 7.1(a) with respect to reviewing the reasonableness of any such price.
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Samples: Non Custodial Securities Lending Agreement (Brighthouse Funds Trust I)
