Loan of Securities. During the term of any securities loan, the Client shall permit the loaned securities to be transferred, pursuant to an SLA, into the name of an Approved Borrower.
Loan of Securities. 1.1 Subject to the terms and conditions of this Agreement, either party hereto may orally initiate a transaction whereby Lender may, from time to time, lend securities to Borrower. The parties shall agree orally on the terms of each Loan, including the date of commencement of the Loan, the issuer of the securities, the description and amount of securities to be lent and the method and location of their delivery, the terms of compensation (including any applicable rebate), the Margin Percentage, and the type(s) and amount of Collateral to be transferred by Borrower and the method and location of their delivery, which terms may be amended during the Loan upon mutual agreement of the parties.
(a) Each Loan shall be evidenced by a written confirmation (“Confirmation”) to be prepared by Lender and delivered to Borrower at or about the commencement of the Loan. The Confirmation shall set forth the material terms of the Loan. The Confirmation, together with this Agreement, shall constitute conclusive evidence of the terms of any Loan agreed to by Borrower and Lender, unless with respect to the Confirmation specific objection is made immediately after receipt thereof by Borrower.
(b) If the parties heretofore agree, each Loan shall not be evidenced by the method specified in 1.2
(a) but rather by Lender’s records pertaining to such Loans maintained by Lender in the regular course of its business and which shall represent conclusive evidence thereof except for manifest error or willful misconduct. Lender shall send Borrower monthly statements of outstanding Loans showing Loan activity which Borrower agrees to examine promptly and to advise Lender of any errors or exceptions. Borrower’s failure to so advise Lender within twenty (20) days after delivery of any such statement shall be deemed to be Borrower’s admission of the accuracy and correctness of the contents thereof and Borrower shall be fully bound thereby. The foregoing shall not be construed to prevent the parties hereto from mutually agreeing to amend or correct such statements if there has been manifest error in the preparation of such statements.
(c) Irrespective of whether the parties agree to 1.2(a) or (b) above, on a monthly basis, Lender shall furnish to Borrower a list of Accounts on whose behalf Lender is authorized to effect loans as agent. In respect to any Loan, the identity of the Account acting as lender shall be promptly furnished to Borrower upon its request and, in any event, shall be automa...
Loan of Securities. During the term of any securities loan, the Fund shall permit the loaned securities to be transferred, pursuant to an SLA, into the name of and voted (where applicable) by an Approved Borrower (or other holder or representative holder of the securities). BBH&Co. is authorized in its discretion to terminate any securities loan entered into with an Approved Borrower without prior notice to the Fund, subject to the conditions of the relevant SLA. The Fund may itself instruct BBH&Co. to terminate any loan on any date, subject to the conditions of the relevant SLA. BBH&Co. agrees to comply with any such instruction.
Loan of Securities. The Firm is authorized to lend to itself or others any securities held in your Account and to carry all securities lent as general loans. In connection with such loans, the Firm may receive compensation and retain certain benefits that you will not be entitled to, such as interest on Collateral posted for such loans. In certain circumstances, such loans may limit your ability to exercise voting rights with respect to the securities lent. You understand that in certain situations in which the Firm has borrowed your securities, you may receive a “payment in lieu” of the dividend issued.
Loan of Securities. During the term of any securities loan, each Participating Fund shall permit the loaned securities to be transferred, pursuant to an MSLA, into the name of and voted (where applicable) by an Approved Borrower. Lending Agent is authorized in its discretion to terminate any securities loan entered into with a Borrower without notice to the Participating Fund or Adviser, subject to the conditions of the relevant MSLA. Adviser may instruct Lending Agent to terminate any loan on any date, subject to the conditions of the relevant MSLA. Lending Agent shall promptly comply with any such instruction.
Loan of Securities. THE INSTRUMENT(s) ARE FOR THE FOLLOWING PURPOSE: The instrument(s) will be used for LENDER business purposes and for other business interests.
Loan of Securities. During the tenn of any securities loan, the Client shall pennit the loaned securities to be transferred, pursuant to a SLA, into the name of an Approved Borrower.
Loan of Securities. Lender, in its sole discretion, may from time to time lend securities to Borrower at Borrower’s request. If Lender decides to make such a loan, it shall deliver to Borrower certificates representing the securities loaned in form for good delivery or shall direct that the securities loaned be credited to Borrower’s account at The Depository Trust Company or, in the case of U.S. Treasury securities, in the Federal Reserve book-entry system. (Each security loaned to Borrower is hereinafter called a “Security” and collectively the “Securities”). Each such loan shall be evidenced by appropriate receipts or notifications customary in such transactions.
Loan of Securities. Lender, in its sole discretion, may from time to time lend securities to Borrower at Borrower’s request. If Lender decides to make such a loan, it shall require that Borrower deliver to it Collateral (in such manner and amount as defined in paragraph 2) for such loan. After Lender has received such Collateral, Lender shall transfer to Borrower the Securities loaned. Such transfer shall be effected by Lender in the Specified Country relevant to the loaned Securities at the time agreed to by Lender arid Borrower after the receipt of the Collateral by Lender. All transfers of Securities or Collateral hereunder shall be by (i) physical delivery of certificates representing the Securities loaned in good delivery form, (ii) transfer on the books of a clearing organization, or (iii) such other means as Borrower and Lender may agree. For the purposes of this Agreement, “clearing organization” shall mean The Depository Trust Company, or, if agreed to by Borrower and Lender, such other clearing agency at which Borrower (or Borrower’s agent) or Lender (or Lender’s agent) maintain accounts, or a book-entry system maintained by a Federal Reserve Bank. (Each security loaned to Borrower is hereinafter called a “Security” and collectively the “Securities”). Each such loan shall be evidenced by appropriate receipts or notifications customary in such transactions.
Loan of Securities. 2.1 Subject to clause 2.2 below, CGS-CIMB will lend the Eligible Securities to the Borrower, and the Borrower will borrow the Eligible Securities from CGS-CIMB in accordance with the terms and conditions of this Agreement. The terms of each Loan shall be agreed prior to the commencement of the relevant Loan either orally or in writing (including any agreed form of electronic communication) and confirmed in such form and on such basis as shall be agreed between the parties. Any confirmation produced by a party shall not supersede or prevail over the prior oral, written or electronic communication (as the case may be).
2.2 CGS-CIMB shall not be obliged to lend Eligible Securities to the Borrower until and unless the Borrower deposits Collateral with CGS-CIMB, in the amounts and at the time as may be agreed upon between the parties. Upon the delivery of the Eligible Securities to the Borrower, the Loan shall be taken as having been granted by CGS-CIMB to the Borrower.
