Common use of Loss Sharing Clause in Contracts

Loss Sharing. 25.1 In the event that an Insolvency Proceeding occurs in respect of Computershare, where Computershare does not hold sufficient Securities, the shortfall in Securities shall be borne in the following sequence: 25.1.1 Computershare’s own Securities of the same kind, if any, shall first be used to make up for the shortfall in Securities; 25.1.2 if after clause 25.1.1 there is still a shortfall in Securities, all Computershare’s Clients who hold securities of the same kind collectively in a Central Securities Account shall bear the shortfall in Securities in such Central Securities Account or Securities Account in proportion to the interest allocated to each such Client, at the time immediately preceding the occurrence of an Insolvency Proceeding against Computershare.

Appears in 8 contracts

Samples: Custody and Settlement Agreement, Custody and Settlement Agreement, Custody and Settlement Agreement

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Loss Sharing. 25.1 27.1 In the event that an Insolvency Proceeding occurs in respect of Computershare, where Computershare does not hold sufficient Securities, the shortfall in Securities shall be borne in the following sequence: 25.1.1 27.1.1 Computershare’s own Securities of the same kind, if any, shall first be used to make up for the shortfall in Securities; 25.1.2 27.1.2 if after clause 25.1.1 27.1.1 there is still a shortfall in Securities, all Computershare’s Clients who hold securities of the same kind collectively in a Central Securities Account shall bear the shortfall in Securities in such Central Securities Account or Securities Account in proportion to the interest allocated to each such Client, at the time immediately preceding the occurrence of an Insolvency Proceeding against Computershare.

Appears in 1 contract

Samples: Custody and Settlement Agreement

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Loss Sharing. 25.1 In the event that an Insolvency Proceeding occurs in respect of Computershare, where Computershare does not hold sufficient Securitiessecurities, the shortfall in Securities securities shall be borne in the following sequence: 25.1.1 Computershare’s own Securities of the same kind, if any, shall first be used to make up for the shortfall in Securities; 25.1.2 if after clause 25.1.1 there is still a shortfall in Securities, all Computershare’s Clients who hold securities of the same kind collectively in a Central Securities Account shall bear the shortfall in Securities in such Central Securities Account or Securities Account in proportion to the interest allocated to each such Client, at the time immediately preceding the occurrence of an Insolvency Proceeding against Computershare.Computershare.‌‌

Appears in 1 contract

Samples: Custody and Settlement Agreement

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