Common use of Termination of Loans Clause in Contracts

Termination of Loans. (a) The Bank shall terminate any Securities loan to a Borrower in accordance with the applicable Securities Borrowing Agreement. as soon as practicable after: (i) receipt by the Bank of a notice of termination from the Borrower pursuant to the Securities Borrowing Agreement; (ii) receipt by the Bank of Written Instructions from the Lender instructing it to terminate a Securities loan; (iii) receipt by the Bank of Written Instructions from the Lender deleting the Borrower as approved by the Lender; (iv) upon the Bank’s becoming aware of the occurrence of any default pursuant to the applicable Securities Borrowing Agreement requiring termination of such loan; (v) upon receipt of written notice from the Lender that the Securities subject to such loan are no longer available for lending pursuant to this Agreement. (vi) whenever the Bank, in its sole discretion, elects to terminate such loan. (b) Upon termination of a loan of Securities hereunder, the Bank shall instruct the Borrower to return the loaned Securities to the Account and shall receive the same. The Borrower is required to return such loaned Securities within such period of time specified in the Securities Borrowing Agreement but in no event later than the end of the customary settlement period. Without limiting any other obligation of the Bank hereunder, the Bank agrees that it shall not transfer (within the meaning of the Uniform Commercial Code) to the Borrower any Collateral in respect of such terminated loan except upon actual receipt of the loaned Securities.

Termination of Loans. (a) The Bank shall terminate any Securities loan to a Borrower in accordance with the applicable Securities Borrowing Agreement. as soon as practicable afterLoan: (i) upon receipt by the Bank of a notice of termination from the Borrower pursuant to the Securities Borrowing Agreementa Borrower; (ii) upon receipt by the Bank of Written Instructions from the Lender instructing it to terminate a Securities loando so; (iii) upon receipt by the Bank of Written Instructions a Certificate instructing it to delete the Borrower to whom such Loan was made from the Lender deleting the Borrower as approved by the Lenderlist referred to in Article I, paragraph 6 hereof; (iv) upon receipt by Bank of a Certificate advising that the Bank’s becoming aware of the occurrence of any default pursuant Loaned Security is no longer subject to the applicable Securities Borrowing Agreement requiring termination of such loanrepresentations contained in Article III, sub-paragraph (e) hereof; (v) upon receipt by Bank of written notice from the Lender or a Certificate advising that an Event of Default (as defined in the Securities subject to such loan are no longer available for lending pursuant to this Borrowing Agreement.) has occurred and is continuing beyond any applicable grace period; (vi) whenever the Bank, in its sole discretion, elects to terminate such loanLoan; or (vii) upon termination of this Agreement. (b) Upon termination of a loan any Loan (which shall be effected according to the standard settlement time for trades in the particular Loaned Security) and receipt from the Borrower of the Loaned Securities hereunderand any Distributions then due, the Bank shall instruct return to the Borrower to return the loaned Securities to the Account and shall receive the same. The Borrower such amount of Collateral as is required to return such loaned Securities within such period of time specified in by the Securities Borrowing Agreement but in no event later than the end of the customary settlement period. Without limiting any other obligation of the Bank hereunder, the Bank agrees that it shall not transfer (within the meaning of the Uniform Commercial Code) to and pay the Borrower any Collateral in respect 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 terminated loan except upon actual receipt of the loaned Securitiessale.

Termination of Loans. (a) The Bank shall terminate any Securities loan to a Borrower in accordance with the applicable Securities Borrowing Agreement. as soon as practicable Loan no later than five Business Days after: (i) receipt by the Bank of a notice of termination from the Borrower pursuant to the Securities Borrowing Agreementa Borrower; (ii) receipt by the Bank of Written Instructions from the Lender instructing it to terminate a Securities loando so; (iii) receipt by the Bank of Written Instructions from the Lender deleting advising it that the Borrower as approved by the to whom such Loan was made is no longer a permitted Borrower of Lender’s Securities; (iv) upon receipt by Bank of Written Instructions advising that the Bank’s becoming aware of the occurrence of any default pursuant Loaned Security is no longer subject to the applicable Securities Borrowing Agreement requiring termination of such loanrepresentations contained in Article III hereof; (v) upon receipt by Bank of written notice from the Lender or Written Instructions advising that an Event of Default (as defined in the Securities subject to such loan are no longer available for lending pursuant to this Borrowing Agreement.) has occurred and is continuing beyond any applicable grace period; (vi) whenever the Bank, in its sole discretion, elects to terminate such loanLoan; or (vii) termination of this Agreement. Upon termination of any Loan (which shall be effected according to the standard settlement time for trades in the particular Loaned Security) 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 due and subject to satisfaction of Lender’s obligations under paragraph 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. (b) Upon termination In order for Bank to timely settle the sale of a loan of Securities hereunderLoaned Securities, the Bank shall instruct the Borrower to return the loaned Securities to the Account and shall receive the same. The Borrower is required to return such loaned Securities within such period of time specified in the Securities Borrowing Agreement but in no event later than the end of the customary settlement period. Without limiting any other obligation of the Bank hereunder, the Bank agrees that it shall not transfer (within the meaning of the Uniform Commercial Code) be Client’s responsibility to the Borrower ensure timely notification to Bank regarding any Collateral in respect of such terminated loan except upon actual receipt of the loaned Securitiessale.

Termination of Loans. (a) The Bank shall terminate any Securities loan to a Borrower in accordance with the applicable Securities Borrowing Agreement. as soon as practicable Loan no later than five Business Days after: (i) receipt by the Bank of a notice of termination from the Borrower pursuant to the Securities Borrowing Agreementa Borrower; (ii) receipt by the Bank of Written Instructions from the Lender instructing it to terminate a Securities loando so; (iii) receipt by the Bank of Written Instructions from the Lender deleting advising it that the Borrower as approved by the Lenderto whom such Loan was made is no longer a permitted Borrower of Lxxxxx’s Securities; (iv) upon receipt by Bank of Written Instructions advising that the Bank’s becoming aware of the occurrence of any default pursuant Loaned Security is no longer subject to the applicable Securities Borrowing Agreement requiring termination of such loanrepresentations, warranties and covenants contained in Article III; (v) upon receipt by Bank of written notice from the Lender or Written Instructions advising that an Event of Default (as defined in the Securities subject to such loan are no longer available for lending pursuant to this Borrowing Agreement.) has occurred and is continuing beyond any applicable grace period; (vi) whenever the Bank, in its sole discretion, elects to terminate such loanLoan; or (vii) termination of this Agreement. Upon termination of any Loan (which shall be effected according to the standard settlement time for trades in the particular Loaned Security), 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 due 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. (b) Upon termination In order for Bank to timely settle the sale of a loan of Securities hereunderLoaned Securities, the Bank shall instruct the Borrower to return the loaned Securities to the Account and shall receive the same. The Borrower is required to return such loaned Securities within such period of time specified in the Securities Borrowing Agreement but in no event later than the end of the customary settlement period. Without limiting any other obligation of the Bank hereunder, the Bank agrees that it shall not transfer (within the meaning of the Uniform Commercial Code) be Client’s responsibility to the Borrower ensure timely notification to Bank regarding any Collateral in respect of such terminated loan except upon actual receipt of the loaned Securitiessale.