Common use of Securities Subject to Lending Clause in Contracts

Securities Subject to Lending. Unless the Lender provides otherwise in writing to the Bank and subject to the next sentence of this Section 2.2, all individual Securities maintained in the Account shall be available for lending pursuant to this Agreement. The Bank shall not loan any Securities maintained in a Portfolio's Account such that, after giving effect to such loan, an amount greater than that Portfolio's Loan Ceiling Amount will be lent pursuant to this Agreement. Upon receiving a notice from the Lender that Securities that have been loaned to a Borrower should no longer be considered available for lending under this Agreement (whether because of the sale of such securities or otherwise), the Bank shall notify promptly thereafter the Borrower that has borrowed such Securities that the loan of such Securities for the Account of such Lender is terminated and that such securities are to be returned within the customary settlement period.

Securities Subject to Lending. Unless the Lender provides otherwise in writing to the Bank and subject to the next sentence of this Section 2.2, all individual Securities maintained in the Account shall be available for lending pursuant to this Agreement. The Bank shall not loan any Securities maintained in a Portfolio's Account such that, after giving effect to such loan, an amount greater than that Portfolio's Loan Ceiling Amount will be lent pursuant to this Agreement. Upon receiving a notice from the Lender that Securities that have been loaned to a Borrower should no longer be considered available for lending under this Agreement (whether because of the sale of such securities or otherwise), the Bank shall notify promptly thereafter the Borrower that has borrowed such Securities that terminate the loan of such Securities for the Account of such Lender is terminated by notice to the Borrower or by reallocation in which case the Bank shall ensure the return of such Securities to the Account of such Lender and that such securities are may immediately cause another Fund to be returned within loan Securities of the customary settlement periodsame class and issuer to the same or a different Borrower.