Common use of Securities Loan Agreement Clause in Contracts

Securities Loan Agreement. BBH&Co. is hereby authorized to execute an SLA as the Fund’s agent on a disclosed basis with each Approved Borrower. The SLA will be in substantially the form of Schedule 3 annexed hereto. Subject to the preceding sentence, the terms of the SLA with each Approved Borrower may vary depending upon any separate negotiation between BBH&Co. and each Approved Borrower and other factors, but: (a) shall be consistent in all material respects with the requirements of this Agreement; (b) shall require the return of loaned securities not later than the times specified in Section 4.1 of this Agreement; and (c) shall require that the Fund receive from each Approved Borrower payment in the amount of any dividends, interest or other distributions paid with respect to the loaned securities the record date for which occurs during the term of the loan, in an amount equal to the amount the Fund would have been entitled to receive had it not lent the loaned securities. The Fund agrees to be bound by the terms of SLA’s entered into by BBH&Co. with Approved Borrowers with respect to the Fund’s participation in the securities lending program as though the Fund were itself a party to all of such agreements. The Fund agrees, upon request, to promptly furnish or cause to be furnished to BBH&Co. the Fund’s financial statements to enable BBH&Co. to comply with any request therefor by any Approved Borrower in connection with any SLA. Certain terms of individual loans, including the amounts or fees to be received or paid to the Approved Borrower, shall be negotiated at the time a loan is made. BBH&Co. may prepare a transactional confirmation in respect of each loan effected pursuant to an SLA, setting forth the securities borrowed and the material terms of the loan, and may transmit the same to the Approved Borrower in accordance with such SLA. The Fund understands and agrees that the identity of the Fund will be disclosed by BBH&Co. to the Approved Borrower in accordance with the SLA.

Securities Loan Agreement. BBH&Co. is hereby authorized to execute an SLA as the Fund’s agent on a disclosed basis with each Approved Borrower. The SLA will be in substantially the form of Schedule 3 annexed hereto. Subject to the preceding sentence, the terms of the SLA with each Approved Borrower may vary depending upon any separate negotiation between BBH&Co. and each Approved Borrower and other factors, but: (a) shall be consistent in all material respects with the requirements of this Agreement; (b) shall require the return of loaned securities not later than the times specified in Section 4.1 of this Agreement; and (c) shall require that the Fund receive from each Approved Borrower payment in the amount of any dividends, interest or other distributions paid with respect to the loaned securities securities, the record date for which occurs during the term of the loan, in an amount equal to the amount the Fund would have been entitled to receive had it not lent the loaned securities. The Fund agrees to be bound by the terms of SLA’s entered into by BBH&Co. with Approved Borrowers with respect to the Fund’s participation in the securities lending program as though the Fund were itself a party to all of such agreements. The Fund agrees, upon request, to promptly furnish or cause to be furnished to BBH&Co. the Fund’s financial statements to enable BBH&Co. to comply with any request therefor by any Approved Borrower in connection with any SLA. Certain terms of individual loans, including the amounts or fees to be received or paid to the Approved Borrower, shall be negotiated at the time a loan is made. BBH&Co. may prepare a transactional confirmation in respect of each loan effected pursuant to an SLA, setting forth the securities borrowed and the material terms of the loan, and may transmit the same to the Approved Borrower in accordance with such SLA. The Fund understands and agrees that the identity of the Fund will be disclosed by BBH&Co. to the Approved Borrower in accordance with the SLA.

Securities Loan Agreement. BBH&Co. is hereby authorized to execute an SLA as the Fund’s agent on a disclosed basis with each Approved Borrower. The SLA will be in substantially the form of Schedule 3 annexed hereto. Subject to the preceding sentence, the terms of the SLA with each Approved Borrower may vary depending upon any separate negotiation between BBH&Co. and each such Approved Borrower and other factors, but: (a) but shall be consistent in all material respects with the requirements of this Agreement; (b) shall require , and terms will not be varied so as to materially limit or restrict the return of loaned securities not later than the times specified in Section 4.1 of Fund’s rights and remedies under this Agreement; and (c) shall require that the Fund receive from each Approved Borrower payment in the amount of any dividends, interest or other distributions paid with respect to the loaned securities the record date for which occurs during the term of the loan, in an amount equal to the amount the Fund would have been entitled to receive had it not lent the loaned securities. The Fund agrees to be bound by the terms of SLA’s entered into by BBH&Co. with Approved Borrowers with respect to the Fund’s participation in the securities lending program as though the Fund were itself a party to all of such agreements. The Fund agrees, upon request, to promptly furnish or cause to be furnished to BBH&Co. the Fund’s financial statements to enable BBH&Co. to comply with any request therefor by any Approved Borrower in connection with any SLA. Certain terms of individual loans, including the amounts or fees to be received or paid to the Approved Borrower, shall be negotiated at the time a loan is made. BBH&Co. may prepare a transactional confirmation in respect of each loan effected pursuant to an SLA, setting forth the securities borrowed and the material terms of the loan, and may transmit the same to the Approved Borrower in accordance with such SLA. The Fund understands and agrees that the identity of the Fund will be disclosed by BBH&Co. to the Approved Borrower in accordance with the SLA.

Securities Loan Agreement. BBH&Co. is hereby authorized to execute an a SLA as the Fund’s 's agent on a disclosed basis with each Approved Borrower. The Fund hereby authorizes BBH&Co. to revise, without notice to the Fund, the terms of any SLA will be with any Approved Borrower as BBH&Co. deems necessary or appropriate, in its discretion, for the effectuation of any transaction contemplated hereby or thereby provided that, as so revised, the SLA remains substantially in the form of Schedule 3 annexed hereto. Subject to the preceding sentence, and is not inconsistent with the terms of the SLA with each Approved Borrower may vary depending upon any separate negotiation between BBH&Co. and each Approved Borrower and other factors, but: (a) shall be consistent in all material respects with the requirements of this Agreement; (b) shall require the return of loaned securities not later than the times specified in Section 4.1 of this Agreement; and (c) shall require that the Fund receive from each Approved Borrower payment in the amount of any dividends, interest or other distributions paid with respect to the loaned securities the record date for which occurs during the term of the loan, in an amount equal to the amount the Fund would have been entitled to receive had it not lent the loaned securitieshereof. The Fund agrees to be bound by the terms of SLA’s 's entered into by BBH&Co. with Approved Borrowers with respect to the Fund’s 's participation in the securities lending program as though the Fund were itself a party to all of such agreements. The Fund specifically approves such form of agreement as set forth in Schedule 3 and agrees, upon request, to promptly furnish or cause to be furnished to BBH&Co. the Fund’s 's financial statements to enable BBH&Co. to comply with any request therefor by any Approved Borrower in connection with any SLA. Certain BBH&Co. shall negotiate on behalf of the Fund with each Approved Borrower all terms of individual loansa securities loan, including the amounts or fees to be received or paid pursuant to the Approved Borrower, shall be negotiated at the time a loan is madeapplicable SLA. BBH&Co. may prepare a transactional confirmation in respect of each loan effected pursuant to an SLA, setting forth the securities borrowed and the material terms of the loan, and may transmit the same to the Approved Borrower in accordance with such SLA. The Fund understands and agrees that the identity of the Fund will be disclosed by BBH&Co. to the Approved Borrower in accordance with the SLA.

Securities Loan Agreement. BBH&Co. is hereby authorized to execute an SLA as the Fund’s agent on a disclosed basis with each Approved Borrower. The SLA will be in substantially the form of Schedule 3 annexed hereto. Subject to the preceding sentence, the terms of the SLA with each Approved Borrower may vary depending upon any separate negotiation between BBH&Co. and each Approved Borrower and other factors, but: (a) but shall be consistent in all material respects with the requirements of this Agreement; (b) shall require . BBH&Co. agrees, upon request, to promptly furnish to Fund the return of loaned securities not later than the times specified in Section 4.1 of this Agreement; and (c) shall require that the Fund receive from each SLA’s entered into with any Approved Borrower payment in the amount of any dividends, interest or other distributions paid with respect to the loaned securities the record date for which occurs during the term of the loan, in an amount equal to the amount the Fund would have been entitled to receive had it not lent the loaned securitiesBorrower. The Fund agrees to be bound by the terms of SLA’s entered into by BBH&Co. with Approved Borrowers with respect to the Fund’s participation in the securities lending program as though the Fund were itself a party to all of such agreements. The Fund agrees, upon request, to promptly furnish or cause to be furnished to BBH&Co. the Fund’s financial statements to enable BBH&Co. to comply with any request therefor by any Approved Borrower in connection with any SLA. Certain terms of individual loans, including the amounts or fees to be received or paid to the Approved Borrower, shall be negotiated at the time a loan is made. BBH&Co. may prepare a transactional confirmation in respect of each loan effected pursuant to an SLA, setting forth the securities borrowed and the material terms of the loan, and may transmit the same to the Approved Borrower in accordance with such SLA. The Fund understands and agrees that the identity of the Fund will be disclosed by BBH&Co. to the Approved Borrower in accordance with the SLA.

Securities Loan Agreement. BBH&Co. BBH&CO is hereby authorized to execute an SLA a securities loan agreement ("SLA") as the Fund’s a Portfolio's agent on a disclosed basis with each Approved Borrower. The SLA will be in substantially the form of Schedule 3 annexed hereto. Subject to the preceding sentence, the Fund hereby authorizes BBH&CO to revise, without notice to the Fund, the terms of the any SLA with each any Approved Borrower may vary depending upon any separate negotiation between BBH&Co. and each Approved Borrower and other factorsas BBH&CO deems necessary or appropriate, but: (a) shall be consistent in all material respects with its discretion, for the requirements of this Agreement; (b) shall require the return of loaned securities not later than the times specified in Section 4.1 of this Agreement; and (c) shall require that the Fund receive from each Approved Borrower payment in the amount effectuation of any dividends, interest transaction contemplated hereby or other distributions paid with respect to the loaned securities the record date for which occurs during the term of the loan, in an amount equal to the amount the Fund would have been entitled to receive had it not lent the loaned securitiesthereby. The Fund agrees to that it and a Portfolio shall be bound by the terms of SLA’s 's entered into by BBH&Co. BBH&CO with Approved Borrowers with respect to the Fund’s Portfolio's participation in the securities lending program as though the Fund and each Portfolio were itself a party to all of such agreements. The Fund specifically approves such form of agreement and agrees, upon request, to promptly furnish or cause to be furnished to BBH&Co. BBH&CO the Fund’s 's and a Portfolio's financial statements to enable BBH&Co. BBH&CO to comply with any request therefor by any Approved Borrower in connection with any SLA. Certain BBH&CO shall negotiate on behalf of a Portfolio with each Approved Borrower all terms of individual loansa securities loan, including the amounts or fees to be received or paid pursuant to the Approved Borrower, shall be negotiated at the time a loan is madeapplicable SLA. BBH&Co. BBH&CO may prepare a transactional confirmation in respect of each loan effected pursuant to an SLA, setting forth the securities borrowed and the material terms of the loan, and may transmit the same to the Approved Borrower in accordance with such SLA. The Fund understands and agrees that the identity of the Fund and a Portfolio will be disclosed by BBH&Co. BBH&CO to the Approved Borrower in accordance with the SLA.

Securities Loan Agreement. BBH&Co. is hereby authorized to execute an a SLA as the Fund’s 's agent on a disclosed basis with each Approved Borrower. The SLA will be in substantially the form of Schedule 3 annexed hereto. Subject to the preceding sentence, the Fund hereby authorizes BBH&Co. to revise, without notice to the Fund, the terms of the any SLA with each any Approved Borrower may vary depending upon any separate negotiation between as BBH&Co. and each Approved Borrower and other factorsdeems necessary or appropriate, but: (a) shall be consistent in all material respects with its discretion, for the requirements of this Agreement; (b) shall require the return of loaned securities not later than the times specified in Section 4.1 of this Agreement; and (c) shall require that the Fund receive from each Approved Borrower payment in the amount effectuation of any dividends, interest transaction contemplated hereby or other distributions paid with respect to the loaned securities the record date for which occurs during the term of the loan, in an amount equal to the amount the Fund would have been entitled to receive had it not lent the loaned securitiesthereby. The Fund agrees to be bound by the terms of SLA’s 's entered into by BBH&Co. with Approved Borrowers with respect to the Fund’s 's participation in the securities lending program as though the Fund were itself a party to all of such agreements. The Fund specifically approves such form of agreement and agrees, upon request, to promptly furnish or cause to be furnished to BBH&Co. the Fund’s 's financial statements to enable BBH&Co. to comply with any request therefor by any Approved Borrower in connection with any SLA. Certain BBH&Co. shall negotiate on behalf of the Fund with each Approved Borrower all terms of individual loansa securities loan, including the amounts or fees to be received or paid pursuant to the Approved Borrower, shall be negotiated at the time a loan is madeapplicable SLA. BBH&Co. may prepare a transactional confirmation in respect of each loan effected pursuant to an SLA, setting forth the securities borrowed and the material terms of the loan, and may transmit the same to the Approved Borrower in accordance with such SLA. The Fund understands and agrees that the identity of the Fund will be disclosed by BBH&Co. to the Approved Borrower in accordance with the SLA.

Securities Loan Agreement. BBH&Co. is hereby authorized to execute an a SLA as the Fund’s agent on a disclosed basis with each Approved Borrower. The Fund hereby authorizes BBH&Co. to revise the terms of any SLA will be with any Approved Borrower as BBH&Co. deems necessary or appropriate, in its discretion, for the effectuation of any transaction contemplated hereby or thereby provided that, as so revised, the SLA remains substantially in the form of Schedule 3 annexed hereto2 and is not inconsistent with the terms hereof. Subject BBH&Co. agrees to notify the preceding sentence, Fund promptly of any revision to the terms of the SLA with each Approved Borrower may vary depending upon any separate negotiation between BBH&Co. and each Approved Borrower and other factors, but: (a) shall be consistent in all material respects with the requirements of this Agreement; (b) shall require the return of loaned securities not later than the times specified in Section 4.1 of this Agreement; and (c) shall require that the Fund receive from each Approved Borrower payment in the amount of any dividends, interest or other distributions paid with respect to the loaned securities the record date for which occurs during the term of the loan, in an amount equal to the amount the Fund would have been entitled to receive had it not lent the loaned securitiesSLA. The Fund agrees to be bound by the terms of SLA’s entered into by BBH&Co. with Approved Borrowers with respect to the Fund’s participation in the securities lending program as though the Fund were itself a party to all of such agreements. The Fund specifically approves such form of agreement as set forth in Schedule 2 and agrees, upon request, to promptly furnish or cause to be furnished to BBH&Co. the Fund’s financial statements to enable BBH&Co. to comply with any request therefor by any Approved Borrower in connection with any SLA. Certain BBH&Co. shall negotiate on behalf of the Fund with each Approved Borrower all terms of individual loansa securities loan, including the amounts or fees to be received or paid pursuant to the Approved Borrower, shall be negotiated at the time a loan is madeapplicable SLA. BBH&Co. may prepare a transactional confirmation in respect of each loan effected pursuant to an SLA, setting forth the securities borrowed and the material terms of the loan, and may transmit the same to the Approved Borrower in accordance with such SLA. The Fund understands and agrees that the identity of the Fund will be disclosed by BBH&Co. to the Approved Borrower in accordance with the SLA.

Securities Loan Agreement. BBH&Co. is hereby authorized to execute an SLA as the Fund’s agent on a disclosed basis with each Approved Borrower. The SLA will be in substantially the form of Schedule 3 annexed hereto, the Global Master Securities Lending Agreement (published by ISLA)(“GMSLA”) or the Master Securities Loan Agreement (published by SIFMA)(“MSLA”). Subject to the preceding sentence, the terms te1111s of the SLA with each Approved Borrower may vary depending upon any separate negotiation between BBH&Co. and each such Approved Borrower and other factors, but: (a) but shall be consistent in all material respects with the requirements of this Agreement; (b) shall require , and te1111s will not be varied so as to materially limit or restrict the return of loaned securities not later than the times specified in Section 4.1 of Fund’s rights and remedies under this Agreement; and (c) shall require that the Fund receive from each Approved Borrower payment in the amount of any dividends, interest or other distributions paid with respect to the loaned securities the record date for which occurs during the term of the loan, in an amount equal to the amount the Fund would have been entitled to receive had it not lent the loaned securities. The Fund agrees to be bound by the terms of SLA’s SLAs entered into by BBH&CoBBH&Co . with Approved Borrowers with respect to the Fund’s participation in the securities lending program as though the Fund were itself a party to all of such agreements. The Fund agrees, upon request, to promptly furnish or cause to be furnished to BBH&Co. the Fund’s financial statements to enable BBH&Co. to comply with any request therefor by any Approved Borrower in connection with any SLA. Certain terms of individual loans, including the amounts or fees to be received or paid to the Approved Borrower, shall be negotiated at the time a loan is made. BBH&CoBBH&Co . may prepare a transactional confirmation in respect of each loan effected pursuant to an SLA, setting forth the securities borrowed and the material terms of the loan, and may transmit the same to the Approved Borrower in accordance with such SLA. The Fund understands and agrees that the identity of the Fund will be disclosed by BBH&Co. to the Approved Borrower in accordance with the SLA.

Securities Loan Agreement. BBH&Co. is hereby authorized to execute an SLA as the Fund’s agent on a disclosed basis with each Approved Borrower. The SLA will be in substantially the form of the Schedule 3 Securities Loan Agreement annexed hereto, the Global Master Securities Lending Agreement (published by ISLA) or the Master Securities Loan Agreement (published by SIFMA). Subject to the preceding sentence, the terms of the SLA with each Approved Borrower may vary depending upon any separate negotiation between BBH&Co. and each Approved Borrower and other factors, but: (a) but shall be consistent in all material respects with the requirements of this Agreement; (b) shall require the return of loaned securities not later than the times specified in Section 4.1 of this Agreement; and (c) shall require that the Fund receive from each Approved Borrower payment in the amount of any dividends, interest or other distributions paid with respect to the loaned securities the record date for which occurs during the term of the loan, in an amount equal to the amount the Fund would have been entitled to receive had it not lent the loaned securities. The Fund agrees to be bound by the terms of SLA’s SLAs entered into by BBH&Co. with Approved Borrowers with respect to the Fund’s participation in the securities lending program as though the Fund were itself a party to all of such agreements. The Fund agrees, upon request, to promptly furnish or cause to be furnished to BBH&Co. the Fund’s financial statements to enable BBH&Co. to comply with any request therefor by any Approved Borrower in connection with any SLA. Certain terms of individual loans, including the amounts or fees to be received or paid to the Approved Borrower, shall be negotiated at the time a loan is made. BBH&Co. may prepare a transactional confirmation in respect of each loan effected pursuant to an SLA, setting forth the securities borrowed and the material terms of the loan, and may transmit the same to the Approved Borrower in accordance with such SLA. The Fund understands and agrees that the identity of the Fund will be disclosed by BBH&Co. to the Approved Borrower in accordance with the SLA.

Securities Loan Agreement. BBH&Co. BBH&CO is hereby authorized to execute an a SLA as the Fund’s 's agent on a disclosed basis with each Approved Borrower. The SLA will be in substantially the form of Schedule 3 annexed hereto. Subject to the preceding sentence, the Fund hereby authorizes BBH&CO to revise, without notice to the Fund, the terms of the any SLA with each any Approved Borrower may vary depending upon any separate negotiation between BBH&Co. and each Approved Borrower and other factorsas BBH&CO deems necessary or appropriate, but: (a) shall be consistent in all material respects with its discretion, for the requirements of this Agreement; (b) shall require the return of loaned securities not later than the times specified in Section 4.1 of this Agreement; and (c) shall require that the Fund receive from each Approved Borrower payment in the amount effectuation of any dividends, interest transaction contemplated hereby or other distributions paid with respect to the loaned securities the record date for which occurs during the term of the loan, in an amount equal to the amount the Fund would have been entitled to receive had it not lent the loaned securitiesthereby. The Fund agrees to be bound by the terms of SLA’s 's entered into by BBH&Co. BBH&CO with Approved Borrowers with respect to the Fund’s 's participation in the securities lending program as though the Fund were itself a party to all of such agreements. The Fund specifically approves such form of agreement and agrees, upon request, to promptly furnish or cause to be furnished to BBH&Co. BBH&CO the Fund’s 's financial statements to enable BBH&Co. BBH&CO to comply with any request therefor by any Approved Borrower in connection with any SLA. Certain BBH&CO shall negotiate on behalf of the Fund with each Approved Borrower all terms of individual loansa securities loan, including the amounts or fees to be received or paid pursuant to the Approved Borrower, shall be negotiated at the time a loan is madeapplicable SLA. BBH&Co. BBH&CO may prepare a transactional confirmation in respect of each loan effected pursuant to an SLA, setting forth the securities borrowed and the material terms of the loan, and may transmit the same to the Approved Borrower in accordance with such SLA. The Fund understands and agrees that the identity of the Fund will be disclosed by BBH&Co. BBH&CO to the Approved Borrower in accordance with the SLA.