Common use of Maintenance of Collateral Margin Clause in Contracts

Maintenance of Collateral Margin. In respect of loans of securities entered into on behalf of the Fund, BBH&CO will value on a daily basis, in accordance with the applicable SLA, the loaned securities and all Collateral and, where applicable, BBH&CO shall, in accordance with the provisions of the applicable SLA, request the Approved Borrower to deliver sufficient additional Collateral to the Fund to satisfy the applicable margin requirement. If, as a result of marking-to-market, Collateral is required to be returned to the Approved Borrower under the SLA, BBH&CO will timely return such Collateral to the Approved Borrower. BBH&CO is authorized in respect of any securities loan or loans to consent to any adjustment in the amount available to be drawn under any letter of credit in order to satisfy any requirement under an SLA to return excess Collateral to Approved Borrower as a result of marking-to-market.

Maintenance of Collateral Margin. In respect of loans of securities entered into on behalf of the Fund, BBH&CO BBH&Co. will value and xxxx to market on a daily basis, in accordance with the applicable SLA, the loaned securities and all Collateral and, where applicable, BBH&CO BBH&Co. shall, in accordance with the provisions of the applicable SLASLA and this Agreement, request the Approved Borrower to deliver sufficient additional Collateral to the Fund to satisfy the applicable margin requirement. If, as a result of marking-to-market, Collateral is required to be returned to the Approved Borrower under the SLA, BBH&CO BBH&Co. will timely return such Collateral to the Approved Borrower. BBH&CO BBH&Co. is authorized in respect of any securities loan or loans to consent to any adjustment in the amount available to be drawn under any letter of credit in order to satisfy any requirement under an SLA to return excess Collateral to the Approved Borrower as a result of marking-to-market.

Maintenance of Collateral Margin. In respect of loans of securities entered into on behalf of the Fund, BBH&CO BBH&Co. will value on a daily basis, in accordance with the applicable SLA, the loaned securities and all Collateral and, where applicable, BBH&CO BBH&Co. shall, in accordance with the provisions of the applicable SLA, request the Approved Borrower to deliver sufficient additional Collateral to the Fund to satisfy the applicable margin requirement. If, as a result of marking-to-market, Collateral is required to be returned to the Approved Borrower under the SLA, BBH&CO BBH&Co. will timely return such Collateral to the Approved Borrower. BBH&CO BBH&Co. is authorized in respect of any securities loan or loans to consent to any adjustment in the amount available to be drawn under any letter of credit in order to satisfy any requirement under an SLA to return excess Collateral to the Approved Borrower as a result of marking-to-market.

Maintenance of Collateral Margin. In respect of loans of securities entered into on behalf of the Funda Portfolio, BBH&CO will value on a daily basis, in accordance with the applicable SLA, the loaned securities and all Collateral and, where applicable, BBH&CO shall, in accordance with the provisions of the applicable SLA, request the Approved Borrower to deliver sufficient additional Collateral to the Fund Portfolio to satisfy the applicable margin requirement. If, as a result of marking-to-market, Collateral is required to be returned to the Approved Borrower under the SLA, BBH&CO will timely return such Collateral to the Approved Borrower. BBH&CO is authorized in respect of any securities loan or loans to consent to any adjustment in the amount available to be drawn under any letter of credit in order to satisfy any requirement under an SLA to return excess Collateral to Approved Borrower as a result of marking-to-market.