Common use of Loan Collateral Clause in Contracts

Loan Collateral. For each loan of securities, the Approved Borrower shall pledge as collateral cash in U.S. dollars or foreign currency(“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, respectively (as determined pursuant to the applicable SLA).

Loan Collateral. For each loan of securities, the Approved Borrower shall pledge as collateral the following items: cash in U.S. dollars or foreign currency(“Collateral”("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, respectively securities (as determined pursuant to the 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(“Collateral”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 102% and 105% of the market value of the domestic U.S. and international loaned securities, respectively 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(“Collateralcurrency; 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 102% and 105% of the market value of the domestic U.S. and international loaned securities, respectively securities (as determined pursuant to the Operating Procedures and applicable SLA).