Common use of State Street Clause in Contracts

State Street. has given PIMCO 2 days’ notice of the amount due and of its intent to so utilize and dispose of custodied Assets; and

State Street. has given PIMCO 2 days’ notice of the amount due and of its intent to so utilize and dispose of custodied Assets; andand (ii) the applicable Portfolio shall not have satisfied the obligation. During such 2 day notice period, PIMCO shall have the option to direct State Street … regarding which and in what priority order custodied Assets are to be utilized and disposed of.”