Common use of Suspended Securities Clause in Contracts

Suspended Securities. This clause applies if: (a) dealings in any borrowed Securities are suspended from trading by the stock exchange on which the Securities were quoted at the time of delivery under these Terms, whether by reason of the adverse position of the issuer or otherwise; or (b) for any other reason concerning the issuer of those Securities (such as the liquidation, provisional liquidation, administration or receivership of the issuer, or the Securities ceasing to be listed for trading on the stock exchange on which they were listed at the time of delivery under these Terms), or concerning the exchange or clear house through which they are traded, one Party is unable to transfer title to those Securities or Equivalent Securities to the other Party. At any time while a situation described above prevails in relation to particular borrowed or Collateral Securities (Suspended Securities), either the Lender or the Borrower may give notice (Suspension Notice) to the other, in which the following applies. If a Suspension Notice is given, the Borrower and the Lender must promptly enter into negotiations in good faith with a view to agreeing promptly the market value of the Suspended Securities for the purposes of this clause. Neither the Borrower nor the Lender may unreasonably withhold or delay its agreement to a market value reasonably proposed by the other Party. Any market value agreed under this clause applies to the Suspended Securities notwithstanding the definition of Value in clause 22.

Suspended Securities. This clause applies if: (a) dealings in any inany borrowed Securities are suspended from trading by the stock exchange on which the Securities were quoted at the time of delivery under these Terms, whether by reason of the adverse position of the issuer or otherwise; or or (b) for any other reason concerning the issuer of those Securities (such as the liquidation, provisional liquidation, administration or receivership of the issuer, or the Securities ceasing to be listed for trading on the stock exchange on which they were listed at the time of delivery under these Terms), or concerning the exchange or clear house through which they are traded, one Party is unable to transfer title to those Securities or Equivalent Securities to the other Party. At any time while a situation described above prevails in relation to particular borrowed or Collateral Securities (Suspended Securities), either the Lender or the Borrower may give notice (Suspension Notice) to the other, in which the following applies. If a Suspension Notice is given, the Borrower and the Lender must promptly enter into negotiations in good faith with a view to agreeing promptly the market value of the marketvalue ofthe Suspended Securities for the purposes of this clause. Neither the Borrower nor the Lender may unreasonably withhold or delay its agreement to a market value reasonably proposed by the other Party. Any market value agreed under this clause applies to the Suspended Securities notwithstanding the definition of Value in clause 22.

Suspended Securities. This clause applies if: (a) dealings in any inany borrowed Securities are suspended from trading by the stock exchange on which the Securities were quoted at the time of delivery under these Terms, whether by reason of the adverse position of the issuer or otherwise; or or (b) for any other reason concerning the issuer of those Securities (such as the liquidation, provisional liquidation, administration or receivership of the issuer, or the Securities ceasing to be listed for trading on the stock exchange on which they were listed at the time of delivery under these Terms), or concerning the exchange or clear house through which they are traded, one Party is unable to transfer title to those Securities or Equivalent Securities to the other Party. At any time while a situation described above prevails in relation to particular borrowed or Collateral Securities (Suspended Securities), either the Lender or the Borrower may give notice (Suspension Notice) to the other, in which the following applies. If a Suspension Notice is given, the Borrower and the Lender must promptly enter into negotiations in good faith with a view to agreeing promptly the market value marketvalue of the Suspended Securities for the purposes of this clause. Neither the Borrower nor the Lender may unreasonably withhold or delay its agreement to a market value reasonably proposed by the other Party. Any market value agreed under this clause applies to the Suspended Securities notwithstanding the definition of Value in clause 22.