Common use of Termination of Loans Clause in Contracts

Termination of Loans. (a) Bank shall terminate any Loan no later than [five] Business Days after: (i) receipt by Bank of a notice of termination from a Borrower; (ii) receipt by Bank of Written Instructions to do so; (iii) receipt by Bank of Written Instructions advising it that the Borrower to whom such Loan was made is no longer a permitted Borrower of Lender’s Securities; (iv) receipt by Bank of Written Instructions advising that the Loaned Security is no longer subject to the representations, warranties and covenants contained in Article III hereof; (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. 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 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) In order for Bank to timely settle the sale of Loaned Securities, it shall be Client’s responsibility to ensure timely notification to Bank regarding any such sale.

Termination of Loans. (a) Bank shall terminate any Loan no later than [five] five Business Days after: (i) receipt by Bank of a notice of termination from a Borrower; (ii) receipt by Bank of Written Instructions to do so; (iii) receipt by Bank of Written Instructions advising it that the Borrower to whom such Loan was made is no longer a permitted Borrower of Lender’s 's Securities; (iv) receipt by Bank of Written Instructions advising that the Loaned Security is no longer subject to the representations, warranties and covenants contained in Article III hereof; (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. 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 and/or Rebates then due and subject to satisfaction of Lender’s '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) In order for Bank to timely settle the sale of Loaned Securities, it shall be Client’s 's responsibility to ensure timely notification to Bank regarding any such salesale provided that such notification shall be deemed to have been given if provided to Bank, in its capacity as custodian for the Client, through methods customarily followed by the parties pursuant to such custody arrangement.

Termination of Loans. (a) Bank shall terminate any Loan no later than [five] Business Days as soon as practicable after: (i) receipt by Bank of a notice of termination from a Borrower; (ii) receipt by Bank of Written Instructions to do so; (iii) receipt by Bank of Written Instructions advising a Certificate instructing it that to delete the Borrower to whom such Loan was made is no longer a permitted Borrower of Lender’s Securitiesfrom the Certificate referred to in Article I, paragraph 6 hereof; (iv) receipt by Bank of Written Instructions a Certificate described in Paragraph 1 of Article II hereof advising that the Loaned Security is no longer subject to the representations, warranties and covenants representations contained in Article III hereofIII, sub-paragraph (e) hereof or is not to be the subject of a Loan hereunder; (v) receipt by Bank of notice or Written Instructions a Certificate 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. . (b) 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 paragraph 2(b) of Article IVdue, 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. (bc) In order for Bank to timely settle the sale of Loaned Securities, it shall be Client’s Lender's responsibility to ensure timely give prompt notification to Bank regarding any such salesale specifying the settlement date therefor. If Lender provides such prompt notification to Bank, Bank shall promptly terminate the related Loan, and in the event Bank fails to settle the sale of Loaned Securities either because the related Borrower failed to return the Loaned Securities within the normal settlement time or because Bank negligently acted or failed to act, then to the extent of such failure Bank shall pay to Lender (i) an amount equal to any interest expense incurred by Lender which is directly attributable to the failure of a Borrower to return any Loaned Securities when required, (ii) an amount equal to any buy-in-costs or buy-in-expenses actually incurred and directly attributable to the failure of a Borrower to return any Loaned Securities and Distributions then due when required, and (iii) an amount equal to the loss incurred by Lender on any cancelled sale of Loaned Securities directly attributable to the failure of a Borrower to return such Loaned Securities.

Termination of Loans. (a) Bank shall terminate any Loan no later than [five] Business Days after: (i) receipt by Bank of a notice of termination from a Borrower; (ii) receipt by Bank of Written Instructions to do so; (iii) receipt by Bank of Written Instructions advising it that the Borrower to whom such Loan was made is no longer a permitted Borrower of Lender’s 's Securities; (iv) receipt by Bank of Written Instructions advising that the Loaned Security is no longer subject to the representations, warranties and covenants contained in Article III hereof; (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. 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 '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) In order for Bank to timely settle the sale of Loaned Securities, it shall be Client’s 's responsibility to ensure timely notification to Bank regarding any such sale.

Termination of Loans. (a) Bank shall terminate any Loan no later than [five] Business Days afterLoan: (i) upon receipt by Bank of a notice of termination from a Borrower; (ii) upon receipt by Bank of Written Instructions to do so; (iii) upon receipt by Bank of Written Instructions advising a Certificate instructing it that to delete the Borrower to whom such Loan was made is no longer a permitted Borrower of Lender’s Securities;from the list referred to in Article I, paragraph 6 hereof, (iv) upon receipt by Bank of Written Instructions a Certificate advising that the Loaned Security is no longer subject to the representations, warranties and covenants representations contained in Article III III, sub-paragraph (e) hereof; (v) upon receipt by Bank of notice or Written Instructions a Certificate 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; (vii) upon termination of this Agreement; or (viiviii) unless otherwise directed by Lender, upon the termination of the provisions of paragraph 5(a) of this Agreement. Article being terminated with respect to the Borrower pursuant to paragraph 5(e) of this Article. (b) 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 paragraph 2(b) of Article IVdue, 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. (bc) In order for Bank to timely settle the sale of Loaned Securities, it shall be Client’s Lender's responsibility to ensure timely prompt notification to Bank regarding any such sale. If Bank has received such prompt notice, Bank shall on the settlement date for such sale cause the Account to be credited with settlement proceeds of any sale whenever the Securities sold are the subject of a Loan, even if the same have not been timely returned by the Borrower, provided such credit may be reversed if such sale fails for a reason other than the failure of Lender to deliver the sold Securities.

Termination of Loans. (a) Bank shall terminate any Loan no later than [five] five Business Days after: (i) receipt by Bank of a notice of termination from a Borrower; (ii) receipt by Bank of Written Instructions to do so; (iii) receipt by Bank of Written Instructions advising it that the Borrower to whom such Loan was made is no longer a permitted Borrower of the applicable Lender’s Securities; (iv) receipt by Bank of Written Instructions advising that the Loaned Security is no longer subject to the representations, warranties and covenants representations contained in Article III hereof; (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. 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 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) In order for Bank to timely settle the sale of Loaned Securities, it shall be Client’s responsibility to ensure timely notification to Bank regarding any such sale.

Termination of Loans. (a) Bank shall terminate any Loan no later than [five] Business Days afterLoan: (i) upon receipt by Bank of a notice of termination from a Borrower; (ii) upon receipt by Bank of Written Instructions to do so; (iii) upon receipt by Bank of Written Instructions advising a Certificate instructing it that to delete the Borrower to whom such Loan was made is no longer a permitted Borrower of Lender’s Securitiesfrom the list referred to in Article I, paragraph 6 hereof; (iv) upon receipt by Bank of Written Instructions a Certificate advising that the Loaned Security is no longer subject to the representations, warranties and covenants representations contained in Article III III, sub-paragraph (e) hereof; (v) upon receipt by Bank of notice or Written Instructions a Certificate 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) upon termination of this Agreement. . (b) 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 paragraph 2(b) of Article IVdue, 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. (bc) In order for Bank to timely settle the sale of Loaned Securities, it shall be ClientLender’s responsibility to ensure timely prompt notification to Bank regarding any such sale.

Termination of Loans. (a) Bank shall terminate any Loan no later than [five] five Business Days after: (i) receipt by Bank of a notice of termination from a Borrower; (ii) receipt by Bank of Written Instructions to do so; (iii) receipt by Bank of Written Instructions advising it that the Borrower to whom such Loan was made is no longer a permitted Borrower of Lender’s Securities; (iv) receipt by Bank of Written Instructions advising that the Loaned Security is no longer subject to the representations, warranties and covenants contained in Article III hereof; (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. 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 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) In order for Bank to timely settle the sale of Loaned Securities, it shall be Client’s responsibility to ensure timely notification to Bank regarding any such sale.

Termination of Loans. (a) Bank shall terminate any Loan no later than [five] five Business Days after: (i) receipt by Bank of a notice of termination from a Borrower; (ii) receipt by Bank of Written Instructions to do so; (iii) receipt by Bank of Written Instructions advising it that the Borrower to whom such Loan was made is no longer a permitted Borrower of Lender’s Securities; (iv) receipt by Bank of Written Instructions advising that the Loaned Security is no longer subject to the representations, warranties and covenants contained in Article III hereofIII; (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. 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 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 paragraph 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) In order for Bank to timely settle the sale of Loaned Securities, it shall be Client’s responsibility to ensure timely notification to Bank regarding any such sale.

Termination of Loans. (a) Bank shall terminate any Loan no later than [five] five Business Days after: (i) receipt by Bank of a notice of termination from a Borrower; (ii) receipt by Bank of Written Instructions to do so; (iii) receipt by Bank of Written Instructions advising it that the Borrower to whom such Loan was made is no longer a permitted Borrower of Lender’s SecuritiesSecurities ; (iv) receipt by Bank of Written Instructions advising that the Loaned Security is no longer subject to the representations, warranties and covenants contained in Article III hereof; (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. 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 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) In order for Bank to timely settle the sale of Loaned Securities, it shall be Client’s responsibility to ensure timely notification to Bank regarding any such sale.

Termination of Loans. (a) Bank shall terminate any Loan no later than [five] Business Days afterLoan: (i) upon receipt by Bank of a notice of termination from a Borrower; (ii) upon receipt by Bank of Written Instructions to do so; (iii) upon receipt by Bank of Written Instructions advising a Certificate instructing it that to delete the Borrower to whom such Loan was made is no longer a permitted Borrower of Lender’s Securitiesfrom the list referred to in Article I, paragraph (e) hereof; (iv) upon receipt by Bank of Written Instructions a Certificate advising that the Loaned Security is no longer subject to the representations, warranties and covenants representations contained in Article III III, sub-paragraph (e) hereof; (v) upon receipt by Bank of notice or Written Instructions a Certificate 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) upon termination of this Agreement. . (b) 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 paragraph 2(b) of Article IVdue, 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. (bc) In order for Bank to timely settle the sale of Loaned Securities, it shall be Client’s Lender's responsibility to ensure timely prompt notification to Bank regarding any such sale.