Substitution of Collateral. To the extent the Client’s Board of Directors/Trustees permits the use of Non-Cash Collateral, the Client acknowledges and agrees that, pursuant to any SLA, the Lending Agent may permit an Approved Borrower to substitute Collateral of any type specified in Section 4 hereof during the term of any loan so long as the required margin in respect of such loan continues to be satisfied at the time of such substitution.
Appears in 52 contracts
Samples: Securities Lending Agency Agreement (BlackRock Series Fund II, Inc.), Securities Lending Agency Agreement (Blackrock Debt Strategies Fund, Inc.), Securities Lending Agency Agreement (Blackrock Floating Rate Income Trust)
Substitution of Collateral. To the extent the Client’s Board of Directors/Trustees Directorsffrustees permits the use of Non-Cash Collateral, the Client acknowledges and agrees that, pursuant to any SLA, the Lending Agent may permit an Approved Borrower to substitute Collateral of any type specified in Section 4 hereof during the term of any loan so long as the required margin in respect of such loan continues to be satisfied at the time of such substitution.
Appears in 3 contracts
Samples: Securities Lending Agency Agreement (BlackRock Multi-Sector Opportunities Trust II), Securities Lending Agency Agreement (BlackRock Fixed Income Value Opportunities II), Securities Lending Agency Agreement (BlackRock 2022 Global Income Opportunity Trust)
Substitution of Collateral. To the extent the Client’s 's Board of Directors/Trustees permits the use of Non-Cash Collateral, the Client acknowledges and agrees that, pursuant to any SLA, the Lending Agent may permit an Approved Borrower to substitute Collateral of any type specified in Section 4 hereof during the term of any loan so long as the required margin in respect of such loan continues to be satisfied at the time of such substitution.
Appears in 1 contract
Samples: Securities Lending Agency Agreement (BlackRock Credit Strategies Fund)
