Common use of Securities Lending Clause in Contracts

Securities Lending. For any securities held by COR as property on margin under this Margin Agreement or as collateral for your obligations under this Margin Agreement, you authorize COR to lend such securities, either separately or with other securities, to itself or to other entities. Securities in your margin account are registered in COR’s name and are collateral for any margin loan. You still receive credit for all dividends or interest payments on these shares and your account will be charged for any dividends or interest on short positions. If there is a decline in the market value or liquidity of securities that are the collateral for your loan or other circumstances where, in COR’s and/or your Broker’s judgment, adequate collateral does not exist, it may be necessary to request additional collateral for your margin account. COR and/or your Broker may increase its “house” maintenance margin requirements at any time and is not required to provide you with advance notice. These changes in COR’s policy often take effect immediately and may result in the issuance of a maintenance margin call. Your failure to satisfy the call may cause COR to liquidate or sell securities in your account(s). Until written revocation confirmation is received by COR or your Broker, this Margin Agreement constitutes your continuing consent to effect securities lending transactions. Upon such written revocation, and payment for all balances due to COR, COR will deliver such securities to you if so requested. Account Number:

Appears in 4 contracts

Samples: Margin Agreement, Margin Agreement, Margin Agreement

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