Termination of Loans. Bank shall accept Instructions from Lender or Agent in writing (which may be electronic) of when to expect the return of a Security on Loan in those cases other than where the Borrower terminates the Loan. Where a Borrower terminates a Loan, Lender or Agent shall so advise Bank no later than the earlier of 5:00 p.m. or the close of the JPMorgan Prime Money Market Fund on each Business Day and confirm to Bank whether or not the return should be accepted and Bank shall act accordingly. Bank shall accept Instructions from Agent in writing (which may be electronic) of the amount of collateral to be delivered to the Borrower and shall act on such Instructions only upon or after receipt of the Securities on Loan. Upon its receipt of Securities back from Loan, Bank shall reflect the status of such Securities on its records as having been returned to custody.
Appears in 12 contracts
Samples: Third Party Securities Lending Agreement (Undiscovered Managers Funds), Third Party Securities Lending Agreement (Jp Morgan Mutual Fund Investment Trust), Third Party Securities Lending Agreement (Jp Morgan Fleming Mutual Fund Group Inc)
