Common use of Securities Loan Agreements Clause in Contracts

Securities Loan Agreements. Each Lender fully understands and agrees that GSAL intends to execute or cause to be executed an SLA (in substantially the form of Schedule 3) as Lender's agent on a disclosed basis with each borrower, and Lender hereby approves such form of SLA. Each Lender understands and agrees that GSAL may revise, without notice to Lender, the terms of any SLA with any borrower as GSAL deems necessary or appropriate, in its discretion, for the effectuation of any transaction contemplated hereby or thereby, except that GSAL shall not agree to revise any terms that materially limit or restrict the Lender’s rights and remedies including, but not limited to, Lender’s rights to and security interest in Collateral, the Lender’s rights to payments in lieu of distributions, the Lender’s rights or remedies in the event of default, the borrower’s obligation to deliver initial or additional Collateral to satisfy the Margin Percentage, or the Margin Percentage as specified in this Agreement and defined in such SLA. Lender also agrees to make available to GSAL its most recent annual and semi-annual shareholder reports (which shall include its recent financial statements) to enable GSAL to comply with any request therefor by a borrower in connection with any SLA by making such reports available to GSAL and the borrower via the Lenders’ website at xxx.xxxxxxxxxxxxx.xxx or, in the event that such shareholder reports are not available at xxx.xxxxxxxxxxxxx.xxx, by furnishing copies of such shareholder reports to GSAL.

Securities Loan Agreements. Each Lender fully understands and agrees that GSAL intends to execute or cause to be executed an SLA (in substantially the form of Schedule 3) as Lender's ’s agent on a disclosed basis with each borrower, and Lender hereby approves such form of SLA. Each Lender understands and agrees that GSAL may revise, without notice to Lender, the terms of any SLA with any borrower as GSAL deems necessary or appropriate, in its discretion, for the effectuation of any transaction contemplated hereby or thereby, except that GSAL shall not agree to revise any terms that materially limit or restrict the Lender’s rights and remedies including, but not limited to, Lender’s rights to and security interest in Collateral, the Lender’s rights to payments in lieu of distributions, the Lender’s rights or remedies in the event of default, the borrower’s obligation to deliver initial or additional Collateral to satisfy the Margin Percentage, or the Margin Percentage as specified in this Agreement and defined in such SLA. Lender also agrees to make available to GSAL its most recent annual and semi-annual shareholder reports (which shall include its recent financial statements) to enable GSAL to comply with any request therefor by a borrower in connection with any SLA by making such reports available to GSAL and the borrower via the Lenders’ website at xxx.xxxxxxxxxxxxx.xxx wxx.xxxxxxxxxxxxx.xxx or, in the event that such shareholder reports are not available at xxx.xxxxxxxxxxxxx.xxxwxx.xxxxxxxxxxxxx.xxx, by furnishing copies of such shareholder reports to GSAL.