Common use of Loan Collateral Clause in Contracts

Loan Collateral. For each loan of securities, the Approved Borrower shall pledge as collateral the following items: (a) cash in U.S. dollars or foreign currency; or (b) securities issued or fully guaranteed by the United States government (collectively, “Collateral”) having an initial market value (as determined by BBH&Co. pursuant to the applicable SLA) at least equal to the market value of the loaned securities (as determined pursuant to the Operating Procedures and applicable SLA).

Loan Collateral. For each loan of securities, the Approved Borrower shall pledge as collateral any of the following items: (a) cash in U.S. dollars or foreign currency; currency ("Cash Collateral"), or (b) securities issued or fully guaranteed by the United States government or any agencies or instrumentalities thereof (collectively"Non-Cash Collateral" and, “collectively with Cash Collateral”, "Collateral") having an initial a market value (as determined by BBH&Co. QA LLC pursuant to the applicable SLA) at least equal to the market value of the loaned securities (as determined by QA LLC pursuant to the Operating Procedures and applicable SLA).

Loan Collateral. For each loan of securities, the Approved Borrower shall pledge as collateral the following items: (a) cash in U.S. dollars or foreign currency; or (b) securities issued or fully guaranteed by the United States government (collectively, “Collateralcurrency(“Collateral”) having an initial market value (as determined by BBH&Co. pursuant to the applicable SLA) at least equal to 102% and 105% of the market value of the domestic U.S. and international loaned securities securities, respectively (as determined pursuant to the Operating Procedures and applicable SLA).

Loan Collateral. For each loan of securities, the Approved Borrower shall pledge as collateral any of the following items: (a) cash in U.S. dollars or foreign currency; currency ("Cash Collateral") or (b) securities issued or fully guaranteed by the United States government or any agencies or instrumentalities thereof (collectively"Non-Cash Collateral" and, “collectively with Cash Collateral”, "Collateral") having an initial a market value (as determined by BBH&Co. the Lending Agent pursuant to the applicable SLA) at least equal to the market value of the loaned securities (as determined by the Lending Agent pursuant to the Operating Procedures and applicable SLA).

Loan Collateral. For each loan of securities, the Approved Borrower shall pledge as collateral the following items: (a) cash in U.S. dollars or foreign currency; or (b) securities issued or fully guaranteed by the United States government (collectively, “"Collateral”") having an initial market value (as determined by BBH&Co. pursuant to the applicable SLA) at least equal to the market value of the loaned securities (as determined pursuant to the Operating Procedures and applicable SLA).

Loan Collateral. For each loan of securities, the Approved Borrower shall pledge as collateral the following items: (a) cash in U.S. dollars or foreign currency; or (b) securities issued or fully guaranteed by the United States government (collectively, “"Collateral”") having an initial market value (as determined by BBH&Co. pursuant to the applicable SLA) at least equal to the market value of the loaned securities (as determined pursuant to the Operating Procedures and applicable SLA).