Common use of Mxxx to Market Clause in Contracts

Mxxx to Market. (a) During any Pledge Period, if, at the close of trading on any Business Day during the Loan Availability Period, the aggregate Market Value of all Collateral shall be less than the Collateral Percentage of the Market Value of all the outstanding Loaned Shares (a “Collateral Deficit”), Lender may, by notice to Borrower and the Collateral Agent, demand that Borrower transfer to the Collateral Agent, for credit to the Collateral Account, no later than on the third Business Day, additional Collateral so that the Market Value of such additional Collateral, when added to the Market Value of all other Collateral, shall equal or exceed the Collateral Percentage of the Market Value of the Loaned Shares on such Business Day of determination. (b) During any Pledge Period, if, at the close of trading on any Business Day during the Loan Availability Period, the aggregate Market Value of all Collateral shall be greater than the Collateral Percentage of the Market Value of all the outstanding Loaned Shares (a “Collateral Excess”), Borrower may, by notice to Lender and the Collateral Agent, demand that the Collateral Agent transfer to Borrower, no later than the following Business Day, such amount of the Collateral selected by Borrower so that the Market Value of the Collateral, after deduction of such amounts, shall thereupon be at least equal to the Collateral Percentage of the Market Value of the Loaned Shares on such Business Day of determination; provided, however, that with respect to clauses (a) and (b), the Collateral Agent will promptly give Lender a statement setting forth the Market Value of all Collateral upon Lender’s request and Lender shall have the right to audit the Market Value of all Collateral. (c) Notwithstanding the foregoing, with respect to any outstanding Loans secured by Collateral, the respective rights of Lender and Borrower under Section 4(a) and Section 4(b) may be exercised only where a Collateral Excess or Collateral Deficit exceeds 2% of the Market Value of the Loaned Shares.

Mxxx to Market. (a) During any Pledge Period, if, if at the close of trading on any Business Day during the Loan Availability Period, Period the aggregate Market Value of all Collateral shall be less than the Collateral Percentage of the Market Value of all the outstanding Loaned Shares (a “Collateral Deficit”), Lender may, by notice to Borrower and the Collateral Agent, demand that Borrower transfer to the Collateral Agent, for credit deposit to the Collateral Account, no later than on the third following Business Day, additional Collateral so that the Market Value of such additional Collateral, when added to the Market Value of all other Collateral, shall equal or exceed the Collateral Percentage of the Market Value of the Loaned Shares on such Business Day of determination. (b) During any Pledge Period, if, if at the close of trading on any Business Day during the Loan Availability Period, Period the aggregate Market Value of all Collateral shall be greater than the Collateral Percentage of the Market Value of all the outstanding Loaned Shares (a “Collateral Excess”), Borrower may, by notice to Lender and the Collateral Agent, demand that the Collateral Agent transfer to Borrower, no later than the following Business Day, Borrower such amount of the Collateral selected by Borrower so that the Market Value of the Collateral, after deduction of such amounts, shall thereupon be at least equal to the Collateral Percentage of the Market Value of the Loaned Shares on such Business Day of determination; provided, however, provided however that with respect to clauses (a) and (b), the Collateral Agent will promptly give Lender a statement setting forth the Market Value of all Collateral upon Lender’s request and Lender shall have the right to audit the Market Value of all Collateral. (c) Notwithstanding the foregoing, with respect to any outstanding Loans secured by Collateral, the respective rights of Lender and Borrower under Section 4(a) and Section 4(b) may be exercised only where a Collateral Excess or Collateral Deficit exceeds 2% of the Market Value of the Loaned Shares.

Mxxx to Market. (a) During any Pledge Period, if, If at the close of trading on any Business Day prior to the Facility Termination Date following the occurrence and during the Loan Availability Period, continuance of a Collateral Trigger Event the aggregate Market Value of all Collateral shall be less than the Collateral Percentage of the Market Value of all the outstanding Loaned Shares (a “Collateral Deficit”), Lender may, by notice to Borrower and the Collateral Agent, demand that Borrower transfer to the Collateral Agent, for credit deposit to the Collateral Account, no later than on the third following Business Day, additional Collateral so that the Market Value of such additional Collateral, when added to the Market Value of all other Collateral, shall equal or exceed the Collateral Percentage of the Market Value of the Loaned Shares on such Business Day of determination. (b) During any Pledge Period, if, If at the close of trading on any Business Day during prior to the Loan Availability Period, Facility Termination Date the aggregate Market Value of all Collateral shall be greater than the Collateral Percentage of the Market Value of all the outstanding Loaned Shares (a “Collateral Excess”), Borrower may, by notice to Lender and the Collateral Agent, demand that the Collateral Agent transfer to Borrower, no later than the following Business Day, Borrower such amount of the Collateral selected by Borrower so that the Market Value of the Collateral, after deduction of such amounts, shall thereupon be at least equal to the Collateral Percentage of the Market Value of the Loaned Shares on such Business Day of determination; provided, however, that with respect to clauses (a) and (b), the Collateral Agent will promptly give Lender a statement setting forth the Market Value of all Collateral upon Lender’s request and Lender shall have the right to audit the Market Value of all Collateral. (c) Notwithstanding the foregoing, with respect to any outstanding Loans secured by Collateral, the respective rights of Lender and Borrower under Section 4(a) and Section 4(b) may be exercised only where a Collateral Excess or Collateral Deficit exceeds 2% of the Market Value of the Loaned Shares.

Mxxx to Market. (a) During any Pledge Period, if, if at the close of trading on any Business Day during the Loan Availability Period, Period the aggregate Market Value of all Collateral shall be less than the Collateral Percentage of the Market Value of all the outstanding Loaned Shares ADSs (a “Collateral Deficit”), Lender mayBorrower will, without any requirement of notice or demand by notice to Borrower and the Collateral AgentLender, demand that Borrower transfer to the Collateral Agent, for credit deposit to the Collateral Account, no later than on the third following Business Day, additional Collateral so that the Market Value of such additional Collateral, when added to the Market Value of all other Collateral, shall equal or exceed the Collateral Percentage of the Market Value of the Loaned Shares ADSs on such Business Day of determination. Borrower or the Collateral Agent will notify Lender of each such transfer of Collateral in accordance with customary and commercially reasonable notification procedures. (b) During any Pledge Period, if, if at the close of trading on any Business Day during the Loan Availability Period, Period the aggregate Market Value of all Collateral shall be greater than the Collateral Percentage of the Market Value of all the outstanding Loaned Shares ADSs (a “Collateral Excess”), Borrower may, by notice to Lender and the Collateral Agent, demand that the Collateral Agent transfer to Borrower, no later than the following Business Day, Borrower such amount of the Collateral selected by Borrower so that the Market Value of the Collateral, after deduction of such amounts, shall thereupon be at least equal to the Collateral Percentage of the Market Value of the Loaned Shares ADSs on such Business Day of determination; provided, however, that with respect to clauses (a) and (b), . Borrower or the Collateral Agent will promptly give notify Lender a statement setting forth the Market Value of all each such transfer of Collateral upon Lender’s request in accordance with customary and Lender shall have the right to audit the Market Value of all Collateralcommercially reasonable notification procedures. (c) Notwithstanding the foregoing, with respect to any outstanding Loans secured by Collateral, the respective rights of Lender and Borrower under Section 4(a) and Section 4(b) may be exercised only where a Collateral Excess or Collateral Deficit exceeds 2% of the Market Value of the Loaned Shares.

Mxxx to Market. (a) During any Pledge Period, if, If the aggregate Margin Value of all Collateral at the close of trading on any Business Day during the Loan Availability Period, the aggregate Market Value of all Collateral shall be less than the Collateral Percentage of the Market Value of all the outstanding Loaned Shares (a “Collateral Deficit”), Lender may, by notice to Borrower and the Collateral Agent, demand that Borrower shall transfer to Custodian no later than the Business Day following the date of such Collateral Agent, Deficit for credit to the Collateral Account, no later than on the third Business Day, additional Collateral selected by Borrower so that the Market Margin Value of such additional Collateral, when added to the Market Margin Value of all other Collateral, shall equal or exceed the Collateral Percentage of the Market Value of the Loaned Shares on such Business Day of determination. (b) During any Pledge Period, if, If the aggregate Margin Value of all Collateral at the close of trading on any Business Day during the Loan Availability Period, the aggregate Market Value of all Collateral shall be greater than the Collateral Percentage of the Market Value of all the outstanding Loaned Shares (a “Collateral Excess”), Borrower may, by notice to Lender and the Collateral AgentCustodian, demand that the Collateral Agent Custodian transfer to Borrower, no later than the following Business Day, such amount of the Collateral selected by Borrower so that the Market Margin Value of the Collateral, after deduction of such amounts, shall thereupon be at least equal to the Collateral Percentage of the Market Value of the Loaned Shares on such Business Day of determination; provided, however, provided that with respect to clauses (a) and (b), the Collateral Agent will promptly give Lender a statement setting forth the Market Value of all Collateral upon Lender’s request and Lender shall have the right to audit the Market Value of all Collateral. (c) Notwithstanding the foregoing, with respect to any outstanding Loans secured by Collateral, the respective rights of Lender and Borrower under Section 4(a) and Section 4(b) may be exercised only where a no Collateral Excess or Collateral Deficit exceeds 2% shall be returned to Borrower if Lender has delivered a Notice of Exclusive Control to Custodian (with a copy to Borrower) in accordance with the terms of the Market Value of the Loaned SharesControl Agreement.

Mxxx to Market. (a) During 9.1 Borrower shall daily mxxx to market any Pledge Period, if, Loan hereunder and in the event that at the close Close of trading Trading on any Business Day during the Market Value of the Collateral for any Loan Availability Periodto Borrower shall be less than 100% of the Market Value of all the outstanding Loaned Securities subject to such Loan, Borrower shall transfer additional Collateral no later than the Close of Business on the next Business Day so that the Market Value of such additional Collateral, when added to the Market Value of the other Collateral for such Loan, shall equal 100% of the Market Value of the Loaned Securities. 9.2 In addition to any rights of Lender under Section 9.1, if at any time the aggregate Market Value of all Collateral for Loans by Lender shall be less than the Collateral Margin Percentage of the Market Value of all the outstanding Loaned Shares Securities subject to such Loans (a “Collateral Margin Deficit”), Lender may, by notice to Borrower and the Collateral AgentBorrower, demand that Borrower transfer to the Collateral Agent, for credit to the Collateral Account, no later than on the third Business Day, Lender additional Collateral so that the Market Value of such additional Collateral, when added to the Market Value of all other CollateralCollateral for such Loans, shall equal or exceed the Collateral Margin Percentage of the Market Value of the Loaned Shares on such Business Day of determinationSecurities. (b) During 9.3 Subject to Borrower’s obligations under Section 9.1, if at any Pledge Period, if, at time the close of trading on any Business Day during the Loan Availability Period, the aggregate Market Value of all Collateral for Loans to Borrower shall be greater than the Collateral Margin Percentage of the Market Value of all the outstanding Loaned Shares Securities subject to such Loans (a “Collateral Margin Excess”), Borrower may, by notice to Lender and the Collateral AgentLender, demand that the Collateral Agent Lender transfer to Borrower, no later than the following Business Day, Borrower such amount of the Collateral selected by Borrower so that the Market Value of the CollateralCollateral for such Loans, after deduction of such amounts, shall thereupon be at least equal to not exceed the Collateral Margin Percentage of the Market Value of the Loaned Shares on such Business Day of determination; providedSecurities. 9.4 Borrower and Lender may agree, however, that with respect to clauses (a) one or more Loans hereunder, to mxxx the values to market pursuant to Sections 9.2 and (b), 9.3 by separately valuing the Loaned Securities lent and the Collateral Agent will promptly give Lender given in respect thereof on a statement setting forth the Market Value of all Collateral upon Lender’s request Loan-by-Loan basis. 9.5 Borrower and Lender shall have the right to audit the Market Value of all Collateral. (c) Notwithstanding the foregoingmay agree, with respect to any outstanding or all Loans secured by Collateralhereunder, that the respective rights of Lender and Borrower under Section 4(a) Sections 9.2 and Section 4(b) 9.3 may be exercised only where a Collateral Margin Excess or Collateral Margin Deficit exceeds 2% a specified dollar amount or a specified percentage of the Market Value of the Loaned SharesSecurities under such Loans (which amount or percentage shall be agreed to by Borrower and Lender prior to entering into any such Loans). 9.6 If any notice is given by Borrower or Lender under Sections 9.2 or 9.3 at or before the Margin Notice Deadline on any day on which a transfer of Collateral may be effected in accordance with Section 15, the party receiving such notice shall transfer Collateral as provided in such Section no later than the Close of Business on such day. If any such notice is given after the Margin Notice Deadline, the party receiving such notice shall transfer such Collateral no later than the Close of Business on the next Business Day following the day of such notice.