Common use of Indemnification of Lender in respect to Distributions Clause in Contracts

Indemnification of Lender in respect to Distributions. If the Borrower in respect of any Loan effected pursuant hereto and pursuant to the applicable MSLA fails, as a result of its bankruptcy, insolvency, reorganization, liquidation, receivership or similar event (each an "Insolvency Event"), to remit to Chase for Lender's account any Distributions on or with respect to Securities on Loan when due (the "Due Date") in accordance with such MSLA and such Due Date occurs at least one day prior to an Insolvency Event then Chase shall at its expense (subject to paragraph (d) hereof) and within one (1) Business Day of the Due Date, undertake the following: (i) with respect to Distributions in the form of cash, Chase shall credit Lender's account with the full amount of such Distributions and (ii) with respect to Distributions in the form of securities, Chase shall, at its option, either purchase replacement securities (of an equal amount of the same issue, class, type or series as the Distributions) on the principal market in which such securities are traded or credit Lender's account with the market value in United States dollars ("Dollars") of such Distributions on the Due Date as determined by Chase in good faith. 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.