Stock Loans. Upon receipt of proper instructions, to deliver securities of the Fund, in connection with loans of securities by the Fund, to the borrower thereof prior to receipt of the collateral, if any, for such borrowing, provided that for stock loans secured by cash collateral the Custodian's instructions to the Securities System require that the Securities System may deliver the securities to the borrower thereof only upon receipt of the collateral for such borrowing.
Stock Loans. Upon receipt of proper instructions to deliver securities of the Fund, in connection with loans of securities by the Fund, to the borrower thereof upon the receipt of the cash collateral, if any, for such borrowing. In the event U.S. Government securities are to be used as collateral, the Custodian will not release the securities to be loaned until it has received confirmation that such collateral has been delivered to the Custodian. The Custodian and Fund understand that the timing of receipt of such confirmation will normally require that the delivery of securities to be loaned will be made one day after receipt of the U. S. Government collateral.
Stock Loans. Upon receipt of proper instructions, to deliver securities of the Fund, in connection with loans of securities by the Fund, to the borrower thereof prior to receipt of the collateral, if any, for such borrowing, provided that for stock loans secured by cash collateral the Custodian's instructions to the Securities System require that the Securities System may deliver the securities to the borrower thereof only upon receipt of the collateral for such borrowing.
P. COLLECTIONS - To collect, receive and deposit in said account or accounts all income, payments of principal and other payments with respect to the securities held hereunder, and in connection therewith to deliver the certificates or other instruments representing the securities to the issuer thereof or its agent when securities are called, redeemed, retired or otherwise become payable; PROVIDED, THAT the payment is to be made in such form and manner and at such time, which may be after delivery by the Custodian of the instrument representing the security, as is in accordance with the terms of the instrument representing the security, or such proper instructions as the Custodian may receive, or governmental regulations, the rules of Securities Systems or other U.S. securities depositories and clearing agencies or, with respect to securities referred to in clause (iii) of the last sentence of Section 2D, in accordance with generally accepted trade practice; (ii) to execute ownership and other certificates and affidavits for all federal and state tax purposes in connection with receipt of income or other payments with respect to securities of the Fund or in connection with transfer of securities, and (iii) pursuant to proper instructions to take such other actions with respect to collection or receipt of funds or transfer of securities which involve an investment decision.
Stock Loans. Upon receipt of proper instructions, to deliver securities of the Fund, in connection with loans of securities by the Fund, to the borrower thereof but only against receipt of such collateral as the Fund shall instruct; except that in connection with any loans for which collateral is to be credited to the Custodian's Account in a book-entry system referred to in Section 2V(ii) hereof, the Custodian may deliver securities prior to the credit of such collateral, provided that the Custodian shall promptly notify the Fund if such collateral is not credited.
Stock Loans. 10 P. Collections................................................ 10 Q. Dividends, Distributions and Redemptions................... 11 R. Proxies, Notices, Etc...................................... 12
Stock Loans. Certain indebtedness in the aggregate amount of eighty-five thousand five hundred dollars ($85,500), incurred by Executive in connection with the purchase of securities from the Company shall be repaid in accordance with the terms and conditions of the Promissory Note dated March 14, 1997, as amended, between Executive and the Company.
Stock Loans. Any loan from the Company to Executive pursuant to the Company's Employee Loan Plan shall continue in place for the remainder of its term.
Stock Loans. All Stock Loans shall have been repaid.
Stock Loans. Upon receipt of proper instructions to deliver securities of the Fund, in connection with loans of securities by the Fund, to the borrower thereof upon the receipt of the cash collateral, if any, for such borrowing. In the event U.S. Government securities are to be used as collateral, the Custodian will not release the securities to be loaned until it has received confirmation that such collateral has been delivered to the Custodian. The Custodian and Fund understand that the timing of receipt of such confirmation will normally require that the delivery of
Stock Loans. Upon the effectiveness of RJR'S retirement pursuant to Section 1, any stock loans from ELCOR to RJR and any accrued interest thereon that are then outstanding under the Elcor Corporation Stock/Loan Plan will be forgiven, as, the parties acknowledge, is in accordance with the terms of such Plan.
