Common use of Tax Act requirements Clause in Contracts

Tax Act requirements. Notwithstanding paragraph (b), if, in respect of any Borrowed Securities or any Collateral, the relevant issuer company, trustee, government or government authority issues any right or option in respect of the Borrowed Securities or Collateral, as the case may be, the Borrower or the Lender, respectively, must deliver or make, as the case may be, to the other Party on the date of such issue or on such other date as the Parties may from time to time agree: (i) the right, or option; or (ii) an identical right or option; or (iii) a payment equal to the value to the Lender or the Borrower, respectively, of the right or option, together with any such endorsements or assignments as may be customary and appropriate.

Tax Act requirements. Notwithstanding paragraph (b), if, in respect of any ofany Borrowed Securities or any Collateral, the relevant issuer company, trustee, government or government authority issues any right or option in respect of the Borrowed Securities or Collateral, as the case may be, the Borrower or the Lender, respectively, must deliver or make, as the case may be, to the other Party on the date of such issue or on such other date as the Parties may from time to time agree: (i) the right, or option; or (ii) an identical right or option; or (iii) a payment equal to the value to the Lender or the Borrower, respectively, of the right or option, together with any such endorsements or assignments as may be customary and appropriate.