Common use of Margin Excess Clause in Contracts

Margin Excess. In the event the then aggregate Margin Value of Purchased Securities shall exceed the Repurchase Price of outstanding Transactions (such excess amount, the “Margin Excess”), Subcustodian shall so notify Seller and, upon Oral or Written Instructions from Seller, Subcustodian shall transfer Purchased Securities from Buyer’s Account to Seller’s Account having a Market Value equal to the Margin Excess. Buyer hereby irrevocably authorizes Subcustodian to accept the Oral or Written Instructions of Seller identifying the specific Purchased Securities to be released from Buyer’s Account pursuant hereto. Upon transfer from Buyer's Account, released Securities shall cease to be Purchased Securities for all purposes hereunder.

Margin Excess. In the event the then aggregate Margin Value of Purchased Securities shall exceed the Repurchase Purchase Price of outstanding Transactions (such excess amount, the “‘Margin Excess”), Subcustodian Custodian shall so notify Seller and, upon Oral or Written Instructions from Seller, Subcustodian Custodian shall transfer Purchased Securities from Buyer’s Account to Seller’s Account having a Market Value equal to the Margin Excess. Buyer hereby irrevocably authorizes Subcustodian Custodian to accept the Oral or Written Instructions of Seller identifying the specific Purchased Securities to be released from Buyer’s Account pursuant hereto. Upon transfer from Buyer's ’s Account, released Securities shall cease to be Purchased Securities for all purposes hereunder.

Margin Excess. In the event the then aggregate Margin Value of Purchased Securities shall exceed the Repurchase Purchase Price of outstanding Transactions (such excess amount, the “Margin Excess”), Subcustodian Custodian shall so notify Seller and, upon Oral or Written Instructions from Seller, Subcustodian Custodian shall transfer Purchased Securities from Buyer’s Account to Seller’s Account having a Market Value equal to the Margin Excess. Buyer hereby irrevocably authorizes Subcustodian Custodian to accept the Oral or Written Instructions of Seller identifying the specific Purchased Securities to be released from Buyer’s Account pursuant hereto. Upon transfer from Buyer's ’s Account, released Securities shall cease to be Purchased Securities for all purposes hereunder.

Margin Excess. In the event the then aggregate Margin Value of Purchased Securities shall exceed the Repurchase Purchase Price of outstanding Transactions (such excess amount, the “"Margin Excess”"), Subcustodian Custodian shall so notify Seller and, upon Oral or Written Instructions from Seller, Subcustodian Custodian shall transfer Purchased Securities from Buyer’s 's Account to Seller’s 's Account having a Market Value equal to the Margin Excess. Buyer hereby irrevocably authorizes Subcustodian Custodian to accept the Oral or Written Instructions of Seller identifying the specific Purchased Securities to be released from Buyer’s 's Account pursuant hereto. Upon transfer from BuyerXxxxx's Account, released Securities shall cease to be Purchased Securities for all purposes hereunder.

Margin Excess. In the event the then aggregate Margin Value of Purchased Securities shall exceed the Repurchase Purchase Price of outstanding Transactions (such excess amount, the “"Margin Excess”"), Subcustodian Custodian shall so notify Seller and, upon Oral or Written Instructions from Seller, Subcustodian Custodian shall transfer Purchased Securities from Buyer’s 's Account to Seller’s 's Account having a Market Value equal to the Margin Excess. Buyer hereby irrevocably authorizes Subcustodian Custodian to accept the Oral or Written Instructions of Seller identifying the specific Purchased Securities to be released from Buyer’s 's Account pursuant hereto. Upon transfer from Buyer's Account, released Securities shall cease to be Purchased Securities for all purposes hereunder.