Common use of Termination of Loans Clause in Contracts

Termination of Loans. (a) Bank shall terminate any Loan as soon as practicable after: (i) receipt by Bank of a notice of termination from a Borrower; (ii) receipt by Bank of Oral or Written Instructions to do so; (iii) receipt by Bank of Written Instructions instructing it to delete the Borrower to whom such Loan was made from the list referred to in Article I, paragraph 6 hereof; (iv) receipt by Bank of Written Instructions described in Paragraph I of Article II hereof advising that the Loaned Security is no longer subject to the representations contained in Article III, sub-paragraph (e) hereof; or is not to be the subject of a Loan hereunder; (v) receipt by Bank of notice or Written Instructions advising that an Event of Default (as defined in the Securities Borrowing Agreement) has occurred and is continuing beyond any applicable grace period; (vi) whenever Bank, in its sole discretion, elects to terminate such Loan; or (vii) termination of this Agreement. Unless otherwise agreed between Bank and Lender, Bank will ensure that -if it receives on a Business Day prior to 12:30 p.m. N.Y. time Oral or Written Instructions to terminate a Loan, Bank shall send a notice on the same Business Day to Borrower terminating such Loan and requiring Borrower to return the Loaned Securities within the standard settlement time for trades in the particular Loaned Security (never to exceed 5 Business Days) beginning on the date Bank is required to send a notice of termination. If the Oral or Written Instructions to terminate a Loan are received by Bank on a Business Day after 12:30 p.m. N.Y. time but prior to 2:00 p.m., Bank shall use reasonable care to send the notice of termination to Borrower on the same date Bank received such Oral or Written Instructions; if such Oral or Written Instructions are received after 2:00 p.m. Bank need not send to Borrower a notice terminating the Loan until the next Business Day. (b) Upon termination of any Loan (which shall be effected according to the standard settlement time for trades in the particular Loaned Security, never to exceed 5 Business Days) and receipt from the Borrower of the Loaned Securities and any Distributions then due, Bank shall return to the Borrower such amount of Collateral as is required by the Securities Borrowing Agreement and pay the Borrower any Rebates then payable. (c) In order for Bank to timely settle the sale of Loaned Securities, it shall be Lender's responsibility to ensure prompt notification to Bank regarding any such sale specifying the settlement date therefor. If Lender provides such prompt notification to Bank, Bank shall pay to Lender an amount equal to any interest expense incurred by Lender which is directly attributable to the failure of a Borrower to return Loaned Securities on or prior to the settlement date of such sale specified in such notification.

Termination of Loans. (a) Bank shall terminate any Loan as soon as practicable after: (i) receipt by Bank of a notice of termination from a Borrower; (ii) receipt by Bank of Oral or Written Instructions to do so; (iii) receipt by Bank of Written Instructions instructing it to delete the Borrower to whom such Loan was made from the list referred to in Article I, paragraph 6 hereof; (iv) receipt by Bank of Written Instructions described in Paragraph I of Article II hereof advising that the Loaned Security is no longer subject to the representations contained in Article III, sub-paragraph (e) hereof; or is not to be the subject of a Loan hereunder; (v) receipt by Bank of notice or Written Instructions advising that an Event of Default (as defined in the Securities Borrowing Agreement) has occurred and is continuing beyond any applicable grace period; (vi) whenever Bank, in its sole discretion, elects to terminate such Loan; or (vii) termination of this Agreement. Unless otherwise agreed between Bank and Lender, Bank will ensure that -if it receives on a Business Day prior to 12:30 p.m. N.Y. time Oral or Written Instructions to terminate a Loan, Bank shall send a notice on the same Business Day to Borrower terminating such Loan and requiring Borrower to return the Loaned Securities within the standard settlement time for trades in the particular Loaned Security (never to exceed 5 Business Days) beginning on the date Bank is required to send a notice of termination. If the Oral or Written Instructions to terminate a Loan are received by Bank on a Business Day after 12:30 p.m. N.Y. time but prior to 2:00 p.m., Bank shall use reasonable care to send the notice of termination to Borrower on the same date Bank received such Oral or Written Instructions; if such Oral or Written Instructions are received after 2:00 p.m. Bank need not send to Borrower a notice terminating the Loan until the next Business Day. (b) Upon termination of any Loan (which shall be effected according to the standard settlement time for trades in the particular Loaned Security, never to exceed 5 Business Days) and receipt from the Borrower of the Loaned Securities and any Distributions then due, Bank shall return to the Borrower such amount of Collateral as is required by the Securities Borrowing Agreement and pay the Borrower any Rebates then payable. (c) In order for Bank to timely settle the sale of Loaned Securities, it shall be Lender's ’s responsibility to ensure prompt notification to Bank regarding any such sale specifying the settlement date therefor. If Lender provides such prompt notification to Bank, Bank shall pay to Lender an amount equal to any interest expense incurred by Lender which is directly attributable to the failure of a Borrower to return Loaned Securities on or prior to the settlement date of such sale specified in such notification.

Termination of Loans. (a) Bank shall terminate any Loan as soon as practicable after: (i) receipt by Bank of a notice of termination from a Borrower; (ii) receipt by Bank of Oral or Written Instructions to do so; (iii) receipt by Bank of Written Instructions instructing it to delete the Borrower to whom such Loan was made from the list referred to in Article I, paragraph 6 hereof; (iv) receipt by Bank of Written Instructions described in Paragraph I of Article II hereof advising that the Loaned Security is no longer subject to the representations contained in Article III, sub-paragraph (e) hereof; or is not to be the subject of a Loan hereunder; (v) receipt by Bank of notice or Written Instructions advising that an Event of Default (as defined in the Securities Borrowing Agreement) has occurred and is continuing beyond any applicable grace period; (vi) whenever Bank, in its sole discretion, elects to terminate such Loan; or (vii) termination of this Agreement. Unless otherwise agreed between Bank and Lender, Bank will ensure that -if it receives on a Business Day prior to 12:30 p.m. N.Y. time Oral or Written Instructions to terminate a Loan, Bank shall send a notice on the same Business Day to Borrower terminating such Loan and requiring Borrower to return the Loaned Securities within the standard settlement time for trades in the particular Loaned Security (never to exceed 5 Business Days) beginning on the date Bank is required to send a notice of termination. If the Oral or Written Instructions to terminate a Loan are received by Bank on a Business Day after 12:30 p.m. N.Y. time but prior to 2:00 2:OO p.m., Bank shall use reasonable care to send the notice of termination to Borrower on the same date Bank received such Oral or Written Instructions; if such Oral or Written Instructions are received after 2:00 2:OO p.m. Bank need not send to Borrower a notice terminating the Loan until the next Business Day. (b) Upon termination of any Loan (which shall be effected according to the standard settlement time for trades in the particular Loaned Security, never to exceed 5 Business Days) and receipt from the Borrower of the Loaned Securities and any Distributions then due, Bank shall return to the Borrower such amount of Collateral as is required by the Securities Borrowing Agreement and pay the Borrower any Rebates then payable. (c) In order for Bank to timely settle the sale of Loaned Securities, it shall be Lender's responsibility to ensure prompt notification to Bank regarding any such sale specifying the settlement date therefor. If Lender provides such prompt notification to Bank, Bank shall pay to Lender an amount equal to any interest expense incurred by Lender which is directly attributable to the failure of a Borrower to return Loaned Securities on or prior to the settlement date of such sale specified in such notification.

Termination of Loans. (a) Bank shall terminate any Loan as soon as practicable within a reasonable time, but in any event no later than five Business Days, after: (i) receipt by Bank of a notice of termination from a Borrower; (ii) receipt by Bank of Oral or Written Instructions to do so; (iii) receipt by Bank of Written Instructions instructing advising it to delete that the Borrower to whom such Loan was made from the list referred to in Article I, paragraph 6 hereofis no longer a permitted Borrower of Lender’s Securities; (iv) receipt by Bank of Written Instructions described in Paragraph I of Article II hereof advising that the Loaned Security is no longer subject to the representations representations, warranties and covenants contained in Article III, sub-paragraph (e) hereof; or is not to be the subject of a Loan hereunder; (v) receipt by Bank of notice or Written Instructions advising that an Event of Default (as defined in the Securities Borrowing Agreement) has occurred and is continuing beyond any applicable grace period; (vi) whenever Bank, in its sole discretion, elects to terminate such Loan; or (vii) termination of this Agreement. Unless otherwise agreed between Bank and Lender, Bank will ensure that -if it receives on a Business Day prior to 12:30 p.m. N.Y. time Oral or Written Instructions to terminate a Loan, Bank shall send a notice on the same Business Day to Borrower terminating such Loan and requiring Borrower to return the Loaned Securities within the standard settlement time for trades in the particular Loaned Security (never to exceed 5 Business Days) beginning on the date Bank is required to send a notice of termination. If the Oral or Written Instructions to terminate a Loan are received by Bank on a Business Day after 12:30 p.m. N.Y. time but prior to 2:00 p.m., Bank shall use reasonable care to send the notice of termination to Borrower on the same date Bank received such Oral or Written Instructions; if such Oral or Written Instructions are received after 2:00 p.m. Bank need not send to Borrower a notice terminating the Loan until the next Business Day. (b) Upon termination of any Loan (which shall be effected according to the standard settlement time for trades in the particular Loaned Security), never to exceed 5 Business Days) including termination by the Borrower, and receipt from the Borrower of the Loaned Securities (or the equivalent thereof in the event of reorganization, recapitalization or merger of the issuer of the Loaned Securities) and any Distributions then duedue and subject to satisfaction of Lender’s obligations under Section 2(b) of Article IV, Bank shall return to the Borrower such amount of Collateral as is required by the Securities Borrowing Agreement and pay the Borrower any Rebates then payable. (cb) In order for Bank to timely settle the sale of Loaned Securities, it shall be Lender's Client’s responsibility to ensure prompt timely notification to Bank regarding any such sale specifying the settlement date therefor. If Lender provides such prompt notification to Bank, Bank shall pay to Lender an amount equal to any interest expense incurred by Lender which is directly attributable to the failure of a Borrower to return Loaned Securities on or prior to the settlement date of such sale specified in such notificationsale.

Termination of Loans. (a) Bank shall terminate any Loan as soon as practicable after: (i) receipt by Bank of a notice of termination from a Borrower; (ii) receipt by Bank of Oral or Written Instructions to do so; (iii) receipt by Bank of Written Instructions instructing it to delete the Borrower to whom such Loan Xxxx was made from the list referred to in Article I, paragraph 6 hereof; (iv) receipt by Bank of Written Instructions described in Paragraph I of Article II hereof advising that the Loaned Security is no longer subject to the representations contained in Article III, sub-paragraph (e) hereof; or is not to be the subject of a Loan hereunder; (v) receipt by Bank of notice or Written Instructions advising that an Event of Default (as defined in the Securities Borrowing Agreement) has occurred and is continuing beyond any applicable grace period; (vi) whenever Bank, in its sole discretion, elects to terminate such Loan; or (vii) termination of this Agreement. Unless otherwise agreed between Bank and Lender, Bank will ensure that -if it receives on a Business Day prior to 12:30 p.m. N.Y. time Oral or Written Instructions to terminate a Loan, Bank shall send a notice on the same Business Day to Borrower terminating such Loan and requiring Borrower to return the Loaned Securities within the standard settlement time for trades in the particular Loaned Security (never to exceed 5 Business Days) beginning on the date Bank is required to send a notice of termination. If the Oral or Written Instructions to terminate a Loan are received by Bank on a Business Day after 12:30 p.m. N.Y. time but prior to 2:00 p.m., Bank shall use reasonable care to send the notice of termination to Borrower on the same date Bank received such Oral or Written Instructions; if such Oral or Written Instructions are received after 2:00 p.m. Bank need not send to Borrower a notice terminating the Loan until the next Business Day. (b) Upon termination of any Loan (which shall be effected according to the standard settlement time for trades in the particular Loaned Security, never to exceed 5 Business Days) and receipt from the Borrower of the Loaned Securities and any Distributions then due, Bank shall return to the Borrower such amount of Collateral as is required by the Securities Borrowing Agreement and pay the Borrower any Rebates then payable. (c) In order for Bank to timely settle the sale of Loaned Securities, it shall be Lender's responsibility to ensure prompt notification to Bank regarding any such sale specifying the settlement date therefor. If Lender provides such prompt notification to Bank, Bank shall pay to Lender an amount equal to any interest expense incurred by Lender which is directly attributable to the failure of a Borrower to return Loaned Securities on or prior to the settlement date of such sale specified in such notification.

Termination of Loans. (a) Bank shall terminate any Loan as soon as practicable after: (i) receipt by Bank of a notice of termination from a Borrower; (ii) receipt by Bank of Oral or Written Instructions to do so; (iii) receipt by Bank of Written Instructions instructing it to delete the Borrower to whom such Loan was made from the list referred to in Article I, paragraph 6 hereof; (iv) receipt by Bank of Written Instructions described in Paragraph I of Article II hereof advising that the Loaned Security is no longer subject to the representations contained in Article III, sub-paragraph (e) hereof; or is not to be the subject of a Loan hereunder; (v) receipt by Bank of notice or Written Instructions advising that an Event of Default (as defined in the Securities Borrowing Agreement) has occurred and is continuing beyond any applicable grace period; (vi) whenever Bank, in its sole discretion, elects to terminate such Loan; or (vii) termination of this Agreement. Unless otherwise agreed between Bank and Lender, Bank will ensure that -if it receives on a Business Day prior to 12:30 p.m. N.Y. time Oral or Written Instructions to terminate a Loan, Bank shall send a notice on the same Business Day to Borrower terminating such Loan and requiring Borrower to return the Loaned Securities within the standard settlement time for trades in the particular Loaned Security (never to exceed 5 Business Days) beginning on the date Bank is required to send a notice of termination. If the Oral or Written Instructions to terminate a Loan are received by Bank on a Business Day after 12:30 p.m. N.Y. time but prior to 2:00 p.m., p.m. Bank shall use reasonable care to send the notice of termination to Borrower on the same date Bank received such Oral or Written Instructions; if such Oral or Written Instructions are received after 2:00 p.m. Bank need not send to Borrower a notice terminating the Loan until the next Business Day. (b) Upon termination of any Loan (which shall be effected according to the standard settlement time for trades in the particular Loaned Security, never to exceed 5 Business Days) and receipt from the Borrower of the Loaned Securities and any Distributions then due, Bank shall return to the Borrower such amount of Collateral as is required by the Securities Borrowing Agreement and pay the Borrower any Rebates then payable. (c) In order for Bank to timely settle the sale of Loaned Securities, it shall be Lender's responsibility to ensure prompt notification to Bank regarding any such sale specifying the settlement date therefor. If Lender provides such prompt notification to Bank, Bank shall pay to Lender an amount equal to any interest expense incurred by Lender which is directly attributable to the failure of a Borrower to return Loaned Securities on or prior to the settlement date of such sale specified in such notification.

Termination of Loans. (a) Bank shall terminate any Loan as soon as practicable after: (i) receipt by Bank of a notice of termination from a Borrower; (ii) receipt by Bank of Oral or Written Instructions to do so; (iii) receipt by Bank of Written Instructions instructing it to delete the Borrower to whom such Loan was made from the list referred to in Article I, paragraph 6 hereof; (iv) receipt by Bank of Written Instructions described in Paragraph I of Article II hereof advising that the Loaned Security is no longer subject to the representations contained in Article III, sub-paragraph (e) hereof; or is not to be the subject of a Loan hereunder; (v) receipt by Bank of notice or Written Instructions advising that an Event of Default (as defined in the Securities Borrowing Agreement) has occurred and is continuing beyond any applicable grace period; (vi) whenever Bank, in its sole discretion, elects to terminate such Loan; or (vii) termination of this Agreement. Unless otherwise agreed between Bank and Lender, Bank will ensure that -if if it receives on a Business Day prior to 12:30 p.m. N.Y. time Oral or Written Instructions to terminate a Loan, Bank shall send a notice on the same Business Day to Borrower terminating such Loan and requiring Borrower to return the Loaned Securities within the standard settlement time for trades in the particular Loaned Security (never to exceed 5 Business Days) beginning on the date Bank is required to send a notice of termination. If the Oral or Written Instructions to terminate a Loan are received by Bank on a Business Day after 12:30 p.m. N.Y. time but prior to 2:00 p.m., Bank shall use reasonable care to send the notice of termination to Borrower on the same date Bank received such Oral or Written Instructions; if such Oral or Written Instructions are received after 2:00 p.m. Bank need not send to Borrower a notice terminating the Loan until the next Business Day. (b) Upon termination of any Loan (which shall be effected according to the standard settlement time for trades in the particular Loaned Security, never to exceed 5 Business Days) and receipt from the Borrower of the Loaned Securities and any Distributions then due, Bank shall return to the Borrower such amount of Collateral as is required by the Securities Borrowing Agreement and pay the Borrower any Rebates then payable. (c) In order for Bank to timely settle the sale of Loaned Securities, it shall be Lender's responsibility to ensure prompt notification to Bank regarding any such sale specifying the settlement date therefor. If Lender provides such prompt notification to Bank, Bank shall pay to Lender an amount equal to any interest expense incurred by Lender which is directly attributable to the failure of a Borrower to return Loaned Securities on or prior to the settlement date of such sale specified in such notification.