Common use of Lending Transactions Clause in Contracts

Lending Transactions. MetWest, as agent on behalf of Client, shall use its best efforts to enter into Loans on each Business Day that Client has Securities available for Loans. MetWest shall enter into a Loan with a Borrower pursuant to a Securities Loan Agreement substantially in the form set forth in Exhibit E and on such pricing terms as determined by MetWest, provided that (a) such Borrower is listed on the List of Borrowers and Counterparties; (b) the amount of the Loan to a Borrower when aggregated with the market value of all outstanding Loans to such Borrower does not exceed the maximum lending capacity of such Borrower as described on the list of Borrowers and Counterparties; (c) the Collateral received with respect to the Loan is of the type listed as Collateral on the Collateral and Investment Guidelines; (d) the maturity of the Loan does not exceed the maximum maturity for a Loan set forth in the Collateral and Investment Guidelines; and (e) such Borrower is not an Affiliate of MetWest. Notwithstanding the foregoing, MetWest shall loan no more than thirty three and one third percent (33 1/3%) of the market value of Client's total assets, including the aggregate value of all Collateral hereunder. MetWest, as agent on behalf of Client, shall take all actions it deems necessary or appropriate, in its sole judgment, in connection with any Loan, including (a) directing the transfer of Collateral into the Custodial Account; (b) directing the transfer into the Custodial Account of Distributions in respect of Loaned Securities and Collateral and any applicable Securities Loan Fee; and (c) negotiating with each Borrower the type and amount of Collateral, the Margin Percentage (as defined in Section 4.3 below), and the amount of Rebate or Securities Loan Fee. Notwithstanding anything to the contrary, Client acknowledges and agrees that MetWest is (a) acting solely as Client's agent in entering into Loans, with Client as the principal on all such Loans, and (b) under no duty to enter into any transaction with respect to Securities that do not satisfy Sections 8.1(g) and (h) of this Agreement.

Lending Transactions. MetWest, as agent on behalf of Client, shall use its best efforts to enter into Loans on cm each Business Day that Client has Securities available for Loans. MetWest shall enter into a Loan with a Borrower pursuant to a Securities Loan Agreement substantially in the form set forth in Exhibit E and on such pricing terms as determined by MetWest, provided that (a) such Borrower is listed on the List of Borrowers and Counterparties; (b) the amount of the Loan to a Borrower when aggregated with the market value of all outstanding Loans to such Borrower does not exceed the maximum lending capacity of such Borrower as described on the list of Borrowers and Counterparties; (c) the Collateral received with respect to the Loan is of the type listed as Collateral on the Collateral and Investment Guidelines; : (d) the maturity of the Loan does not exceed the maximum maturity for a Loan set forth in the Collateral and Investment Guidelines; and (e) such Borrower is not an Affiliate of MetWest. Notwithstanding the foregoing, MetWest shall loan no more than thirty three and one third percent (33 1/3%) of the market value of Client's total assets, including the aggregate value of all Collateral hereunder. MetWest, as agent on behalf of Client, shall take all actions it deems necessary or appropriate, in its sole judgment, in connection with any Loan, including (a) directing the transfer of Collateral into the Custodial Account; (b) directing the transfer into the Custodial Account of Distributions in respect of Loaned Securities and Collateral and any applicable Securities Loan Fee; and (c) negotiating with each Borrower the type and amount of Collateral, the Margin Percentage (as defined in Section 4.3 below), and the amount of Rebate or Securities Loan Fee. Notwithstanding anything to the contrary, Client acknowledges and agrees that MetWest is (a) acting solely as Client's agent in entering into Loans, with Client as the principal on all such Loans, and (b) under no duty to enter into any transaction with respect to Securities that do not satisfy Sections 8.1(g) and (h) of this Agreement.