Lending Guidelines. A. The Lending Agent may only lend securities whose country of issuance is listed on the Program Manager’s list of Approved Countries for Equity Lending and Fixed Income Lending, a copy of which is attached hereto as Exhibit A.
B. Collateralization
1. The required amount of collateralization upon the making of a loan shall be market value times the appropriate percentage for each security type:
a. Domestic Securities – 102%
b. International fixed income securities – 102%
c. International equity securities – 105%
2. If the market value of the given collateral falls to 100% or below of the loaned security market value, the Lending Agent shall obtain additional collateral to bring the collateralization back to initial margin requirement by the end of the next business day.
3. The following forms of collateral are acceptable:
a. Cash;
b. Securities issued or guaranteed by the U.S. government or its agencies or instrumentalities;
c. Irrevocable, non-negotiable standby letters of credit issued by a bank that qualifies as an investment company custodian bank under the 1940 Act or any “eligible foreign custodian” as defined in Rule l7f-5 under the 1940 Act; and
d. In connection with loans of internationally traded debt and equity securities made through the Euroclear Securities Lending and Borrowing Program of Xxxxxx Guaranty Trust Company of New York, a guaranty issued by the program sponsor to participants in that program.
Lending Guidelines. Lending Guidelines means those guidelines established from time to time by Lender for the development, implementation, and administration of the Loans.. Both parties agree to act in good faith and in a commercially reasonable manner in connection with the implementation and administration of the Lending Guidelines.
Lending Guidelines. Xxxxx understands and agrees that it is their sole discretion if and when they choose to initiate a loan lock with their lender. Extensions on loan locks are not the responsibility of the Seller and any costs associated with the extension will be the exclusive responsibility of the Buyer. It is recommended Buyer communicate with their Lender and Realtor before locking in a loan rate. Due to it being new construction, with possible upgrades, and lack of comparables, Buyer acknowledges that the purchase agreement is not contingent on the home appraising for the actual final sales price. In the event the appraisal is less than the purchase price, the buyer(s) agree to pay the difference with cash at closing.
