Redelivery of Equivalent Securities. (A) The Borrower undertakes to redeliver Equivalent Securities in accordance with this Agreement and the terms of the relevant Borrowing Request. For the avoidance of doubt any reference herein or in any other agreement or communication between the Parties (howsoever expressed) to an obligation to redeliver or account for or act in relation to borrowed Securities shall accordingly be construed as a reference to an obligation to redeliver or account for or act in relation to Equivalent Securities.
(B) Subject to Clause 8 hereof and the terms of the relevant Borrowing Request the Lender may call for the redelivery of all or any Equivalent Securities at any time by giving notice on any Business Day of not less than the standard settlement time for such Equivalent Securities on the exchange or in the clearing organisation through which the relevant borrowed Securities were originally delivered. The Borrower shall as hereinafter provided redeliver such Equivalent Securities not later than the expiry of such notice in accordance with the Lender's instructions. Simultaneously with the redelivery of the Equivalent Securities in accordance with such call, the Lender shall (subject to Clause 6(I), if applicable) repay any Cash Collateral and redeliver to the Borrower Collateral equivalent to the Collateral delivered pursuant to Clause 6 in respect of the borrowed Securities. For the avoidance of doubt any reference herein or in any other agreement or communication between the Parties (however expressed) to an obligation to redeliver or account for or act in relation to Collateral shall accordingly be construed as a reference to an obligation to redeliver or account for or act in relation to Equivalent Collateral.
(C) If the Borrower does not redeliver Equivalent Securities in accordance with such call, the Lender may elect to continue the loan of Securities PROVIDED THAT if the Lender does not elect to continue the loan the Lender may by written notice to the Borrower elect to terminate the relevant loan. Upon the expiry of such notice the provisions of Clauses (8) (B) to (F) shall apply as if upon the expiry of such notice an Event of Default had occurred in relation to the Borrower (who shall thus be the Defaulting Party for the purposes of this Agreement) and as if the relevant loan were the only loan outstanding.
(D) In the event that as a result of the failure of the Borrower to redeliver Equivalent Securities to the Lender in accordance with this Agreement a "...
Redelivery of Equivalent Securities. 5.1 The Borrower undertakes to redeliver Equivalent Securities in accordance with this Agreement. For the avoidance of doubt any reference herein or in any other agreement or communication between the Parties (howsoever expressed) to an obligation to redeliver or account for or act in relation to borrowed Securities shall accordingly be construed as a reference to an obligation to redeliver or account for or act in relation to Equivalent Securities.
5.2 The Lender may call for the redelivery of all or any Equivalent Securities at any time by giving notice on any Business Day of not less than the standard settlement time for such Equivalent Securities on the exchange or in the clearing organisation through which the relevant borrowed Securities were originally delivered, provided that on the date of such call the Lender establishes to the reasonable satisfaction of the Borrower that one of the following conditions is met:
5.2.1 the Equivalent Securities are intended for use by the Lender in satisfaction of its obligation to deliver Exchange Property (as that term is or is to be defined for the purposes of the Notes) to holders of Notes; or
5.2.2 the Notes are no longer to be issued by the Lender during a period of 45 days from the date hereof;
5.2.3 an Event of Default has occurred in relation to the Borrower.
5.3 The Borrower shall as hereinafter provided redeliver such Equivalent Securities not later than the expiry of such notice in accordance with the Lender's instructions.
5.4 If the Borrower does not redeliver Equivalent Securities in accordance with such call, the Lender may elect to continue the loan of Securities provided that if the Lender does not elect to continue the loan the Lender may by written notice to the Borrower elect to terminate the loan.
5.5 In the event that as a result of the failure of the Borrower to redeliver Equivalent Securities to the Lender in accordance with this Agreement a "buy-in" is exercised against the Lender then provided that reasonable notice has been given to the Borrower of the likelihood of such a "buy-in", the Borrower shall account to the Lender for the total costs and expenses reasonably incurred by the Lender as a result of such "buy-in".
5.6 The Borrower shall be entitled at any time to terminate a particular loan of Securities and to redeliver all and any Equivalent Securities due and outstanding to the Lender in accordance with the Lender's instructions. The Lender shall accept such redelivery.
Redelivery of Equivalent Securities. 5 6. Set-off etc.........................................................................................6 7.
Redelivery of Equivalent Securities. (1) Subject to clause 5(2) below the Borrower undertakes to redeliver Equivalent Securities on the Termination Date in accordance with this agreement. For the avoidance of doubt any reference in this agreement or in any other agreement or communication between the Parties (howsoever expressed) to an obligation to redeliver or account for or act in relation to borrowed Securities shall accordingly be construed as a reference to an obligation to redeliver or account for or act in relation to Equivalent Securities.
(2) the Borrower may at its discretion specify that the aggregate amount of Securities which may be the subject of Borrowing Requests pursuant to clause 2 shall reduce by the number of Equivalent Securities redelivered or such lesser number as is specified by the Borrower.
Redelivery of Equivalent Securities. 27 8. SET-OFF ETC...........................................................................29
Redelivery of Equivalent Securities. (A) The Borrower undertakes to redeliver Equivalent Securities in accordance with this Agreement and the terms of the relevant Borrowing Request. For the avoidance of doubt any reference herein or in any other agreement or communication between the Parties (howsoever expressed) to an obligation to redeliver or account for or act in relation to borrowed Securities shall accordingly be construed as a reference to an obligation to redeliver or account for or act in relation to Equivalent Securities.
(B) Subject to Clause 8 hereof and the terms of the relevant Borrowing Request the Lender may call for the redelivery of all or any Equivalent Securities at any time by giving notice on any Business Day of not less than the standard settlement time for such Equivalent Securities on the exchange or in the clearing organization through which the relevant borrowed Securities were originally delivered. The Borrower shall as hereinafter provided redeliver such Equivalent Securities not later than the expiry of such notice in accordance with the Lender's
Redelivery of Equivalent Securities. 22 9. SUSPENDED SECURITIES 24 10. SET-OFF ETC 24
Redelivery of Equivalent Securities. 24 SET-OFF ETC..................................................................25 TAXATION 27 LENDER'S WARRANTIES..........................................................28
Redelivery of Equivalent Securities. 6.1. Borrower’s obligation to redeliver Equivalent Securities
(a) The Borrower undertakes to redeliver Equivalent Securities in accordance with these Terms and the terms of the relevant Collateral Request.
(b) Unless otherwise specified, a loan of Securities will not be for more than 12 months but will be automatically rolled over by being terminated and succeeded by a new loan on identical terms except for the period of the loan.
6.2. Lender may call for early redelivery of Equivalent Securities in limited cases
Redelivery of Equivalent Securities
