Common use of Termination of the Loan Clause in Contracts

Termination of the Loan. 6.1 Unless otherwise agreed, either Party may terminate a Loan on a termination date established by notice given to the other Party prior to the Close of Business on any day that is a Calendar Day. Unless Borrower and Xxxxxx agree to the contrary, the termination date established by a termination notice will be a date no earlier than one Calendar Day(s) from the day the notice is given if the notice is given prior to the Close of Business, and no earlier than two Calendar Days from the day the notice is given if the notice is given after the Close of Business or if the notice is given on a non-Business Day. 6.2 Notwithstanding Section 6.1 and unless otherwise agreed, Borrower may terminate a Loan on any Calendar Day by giving notice to Lender and transferring the Loaned Asset(s) to Lender before the Close of Business on such Calendar Day. 6.3 Unless otherwise agreed, Borrower will, on or before the Close of Business on the termination date of a Loan, transfer the Loaned Assets to Lender; provided, however, that upon such transfer by Xxxxxxxx, Lender will transfer the Collateral (as adjusted pursuant to Section 9) to Borrower in accordance with Section 4.3. 6.4 If due to the adoption of, or any change in, any applicable law after the date on which a Loan is entered into, or due to the promulgation of, or any change in, the interpretation by any court, tribunal or regulatory authority with competent jurisdiction of any applicable law after such date, it becomes unlawful to perform any absolute or contingent obligation to make a payment or transfer or to receive a payment or transfer in respect of such Loan or to comply with any other material provision of this Agreement relating to such Loan, then the Lender may, by notice to the Borrower: (a) designate alternative forms of Loaned Assets or Collateral capable of satisfying each Party’s transfer obligations under this Section 6 and/or other payment obligations under this Agreement, or (b) determine that all transfer and payment obligations under this Agreement will be settled in the Contractual Currency. If Lender provides such notice to Borrower, a “Disruption Event” will be deemed to have occurred. For the avoidance of doubt, the amounts owing in alternative forms of Loaned Assets or Collateral under this Section 6.4 will be determined by reference to the Market Value of the Loaned Asset or Collateral calculated at the time such payment is owing or otherwise at a time reasonably determined by Lender. Unless a notice by Xxxxxx expressly states otherwise, reference to “other payment obligations under this Agreement” in Section 6.4(a) and “transfer and payment obligations under this Agreement” in Section 6.4(b) will be deemed to exclude Distributions. 6.5 If an event or circumstance which would otherwise constitute or give rise to an Event of Default also constitutes a Disruption Event under Section 6.4, it will be treated as a Disruption Event and will not constitute an Event of Default.

Termination of the Loan. 6.1 (a) Unless otherwise agreed, either Party party may terminate a Loan on a termination date established by notice given to the other Party party prior to the Close of Business on any day that is a Calendar Business Day. Unless Borrower and Xxxxxx Lender agree to the contrarycontrary , the termination date established by a termination notice will shall be a date no earlier than one Calendar Day(sthe standard settlement date that would apply to a purchase or sale of the Loaned Securities (in the case of a notice given by Xxxxxx) from or the day the notice is given if the notice is given prior to the Close of Business, and no earlier than two Calendar Days from the day the notice is given if the notice is given after the Close of Business or if the notice is given on a non-Business Daycash Collateral securing the Loan (in the case of a notice given by Borrower) entered into at the time of such notice. 6.2 (b) Notwithstanding Section 6.1 paragraph (a) and unless otherwise agreed, Borrower may terminate a Loan on any Calendar Day Business Day, effective as of such Business Day, by giving notice to Lender and transferring the Loaned Asset(s) Securities to Lender before the Close of Business on such Calendar Business Day. Borrower will be deemed to have transferred Loaned Securities by the end of a Business Day if it treats such securities as customer securities subject to the general possession or control requirements of Exchange Act Rule 15c3-3(b), without giving effect to Exchange Act rule 15c3-3(b)(3), without regard to (c) The execution by Borrower of an order to sell the Loaned Securities by Lender shall constitute notice of termination by Xxxxxx to Borrower. The termination date established by such a sale of the Loaned Securities shall be the settlement date of such sale of the Loaned Securities or any earlier date on which Borrower is deemed to have transferred Loaned Securities to Lender under paragraph (b) of this Section. 6.3 6.2. Unless otherwise agreed, Borrower willshall, on or before the Close of Business Cutoff Time on the termination date of a Loan, transfer the Loaned Assets Securities to Lender; provided, however, that upon such transfer by XxxxxxxxBorrower, Borrower shall no longer be obligated to maintain Collateral in a Custody Account for Lender will transfer the Collateral (as adjusted pursuant to Section 9) to Borrower in accordance with Section 4.3. 6.4 If due to the adoption of, or any change in, any applicable law after the date on which a Loan is entered into, or due to the promulgation of, or any change in, the interpretation by any court, tribunal or regulatory authority with competent jurisdiction of any applicable law after such date, it becomes unlawful to perform any absolute or contingent obligation to make a payment or transfer or to receive a payment or transfer in respect of such Loan or to comply with any other material provision of this Agreement relating to such Loan, then the Lender may, by notice to the Borrower: (a) designate alternative forms of Loaned Assets or Collateral capable of satisfying each Party’s transfer obligations under this Section 6 and/or other payment obligations under this Agreement, or (b) determine that all transfer and payment obligations under this Agreement will be settled in the Contractual Currency. If Lender provides such notice to Borrower, a “Disruption Event” will be deemed to have occurred. For the avoidance of doubt, the amounts owing in alternative forms of Loaned Assets or Collateral under this Section 6.4 will be determined by reference to the Market Value of the Loaned Asset or Collateral calculated at the time such payment is owing or otherwise at a time reasonably determined by Lender. Unless a notice by Xxxxxx expressly states otherwise, reference to “other payment obligations under this Agreement” in Section 6.4(a) and “transfer and payment obligations under this Agreement” in Section 6.4(b) will be deemed to exclude Distributions. 6.5 If an event or circumstance which would otherwise constitute or give rise to an Event of Default also constitutes a Disruption Event under Section 6.4, it will be treated as a Disruption Event and will not constitute an Event of Default.

Termination of the Loan. 6.1 Unless otherwise agreed, either Party (a) Borrower may terminate a Loan loan on any Business Day by giving notice to Lender prior to 10:00 a.m. in the case of government securities and prior to 11:30 a.m. in the case of all other securities on such Business Day and transferring the Loaned Securities to Lender before the Cutoff Time on such Business Day, and (b) Lender may terminate a loan on a termination date established by a notice given by Lender to the other Party Borrower prior to the Close close of business on a Business on any day that is a Calendar Day. Unless Borrower and Xxxxxx agree to the contrary, the The termination date established by a termination notice will given by Lender to Borrower shall be a date no earlier than one Calendar Day(sthe standard settlement date for trades of the Loaned Securities entered into on the date of such notice, which date shall, unless Borrower and Lender agree to the contrary, be (i) from in the day case of government securities, the next Business Day following such notice, and (ii) in the case of all other securities, the next Business Day following such notice is given if the notice loan is given terminated prior to June 1, 1995 and the Close of Business, and no earlier than two Calendar Days from the day the notice is given third Business Day if the notice loan is given terminated on or after the Close of Business or if the notice is given on a non-Business Day. 6.2 Notwithstanding Section 6.1 and unless otherwise agreedJune 1, Borrower may terminate a Loan on any Calendar Day by giving notice to Lender and transferring the Loaned Asset(s) to Lender before the Close of Business on such Calendar Day. 6.3 1995. Unless otherwise agreed, Borrower willshall, on or before the Close of Business Cutoff Time on the termination date of a Loan, transfer the Loaned Assets Securities to Lender; , provided, however, that upon such transfer by XxxxxxxxBorrower, Lender will shall transfer the Collateral (as adjusted pursuant to Section 9) 8) to Borrower in accordance with Section 4.33.3. 6.4 If due Section 8. 1 is hereby amended by deleting the reference to "100%" in the adoption oflast line and replacing it with 102%." Section 24.1 is hereby amended by deleting the reference to "New York" and replacing it with "Ohio" and by deleting the reference to "New York City" and replacing it with "Columbus, or Ohio." 6. The second sentence of Section 25 is hereby deleted it is entirety and the following new sentence is substituted in its place: This Agreement shall not be assigned by either party without the prior written consent of the other party and any change in, any applicable law after the date on which a Loan is entered into, or due to the promulgation of, or any change in, the interpretation by any court, tribunal or regulatory authority with competent jurisdiction of any applicable law after attempted assignment without such date, it becomes unlawful to perform any absolute or contingent obligation to make a payment or transfer or to receive a payment or transfer in respect of such Loan or to comply with any other material provision of consent shall be null and void except that Lender may assign this Agreement relating to such Loan, then another affiliate of BANC ONE CORPORATION without the Lender may, by notice to consent of the Borrower: (a) designate alternative forms of Loaned Assets or Collateral capable of satisfying each Party’s transfer obligations under this Section 6 and/or other payment obligations under this Agreement, or (b) determine that all transfer and payment obligations under this Agreement will be settled in the Contractual Currency. If Lender provides such notice to Borrower, a “Disruption Event” will be deemed to have occurred. For the avoidance of doubt, the amounts owing in alternative forms of Loaned Assets or Collateral under this Section 6.4 will be determined by reference to the Market Value of the Loaned Asset or Collateral calculated at the time such payment is owing or otherwise at a time reasonably determined by Lender. Unless a notice by Xxxxxx expressly states otherwise, reference to “other payment obligations under this Agreement” in Section 6.4(a) and “transfer and payment obligations under this Agreement” in Section 6.4(b) will be deemed to exclude Distributions. 6.5 If an event or circumstance which would otherwise constitute or give rise to an Event of Default also constitutes a Disruption Event under Section 6.4, it will be treated as a Disruption Event and will not constitute an Event of Default.

Termination of the Loan. 6.1 6.1. Unless otherwise agreed, either Party party may terminate a Loan on a termination date established by notice given to the other Party party prior to the Close of Business on any day that is a Calendar Business Day. Unless Borrower and Xxxxxx agree to an earlier date is agreed by the contraryParties, the termination date established by a termination notice will shall be a date no earlier than one Calendar Day(sthe standard settlement date that would apply to a purchase or sale of the Loaned Securities (in the case of a notice given by Lender) from or the day non-cash Collateral securing the Loan (in the case of a notice is given if by Borrower) entered into at the notice is given prior time of such notice, which date shall, unless Borrower and Lender agree to the Close contrary, be (a) in the case of BusinessGovernment Securities, the next Business Day following such notice and no earlier than two Calendar Days from (b) in the day case of all other Securities, the notice is given if the notice is given after the Close of third Business or if the notice is given on a non-Business DayDay following such notice. 6.2 6.2. Notwithstanding Section paragraph 6.1 and unless otherwise agreed, Borrower may terminate a Loan on any Calendar Day Business Day, effective as of such Business Day, by giving notice to Lender and transferring the Loaned Asset(s) Securities to Lender before the Close of Business on such Calendar Business Day. Borrower will be deemed to have transferred Loaned Securities by the end of a Business Day if it treats such securities as in the custody of IB Nominees, without regard to whether such securities are thereby returned to Lender or may continue to be borrowed by Borrower pursuant to any hypothecation agreement between Lender and Borrower. 6.3. The execution by Borrower of an order to sell the Loaned Securities by Lender shall constitute notice of termination by Lender to Borrower. The termination date established by such a sale of the Loaned Securities shall be the settlement date of such sale of the Loaned Securities or any earlier date on which Borrower is deemed to have transferred Loaned Securities to Lender under paragraph 6.3 of this Section. 6.4. Unless otherwise agreed, Borrower willshall, on or before the Close of Business Cutoff Time on the termination date of a Loan, transfer the Loaned Assets Securities to Lender; provided, however, that upon such transfer by Xxxxxxxx, Lender will shall transfer the Collateral (as adjusted pursuant to Section 9) to Borrower in accordance with Section 4.3. 6.4 If due to the adoption of, or any change in, any applicable law after the date on which a Loan is entered into, or due to the promulgation of, or any change in, the interpretation by any court, tribunal or regulatory authority with competent jurisdiction of any applicable law after such date, it becomes unlawful to perform any absolute or contingent obligation to make a payment or transfer or to receive a payment or transfer in respect of such Loan or to comply with any other material provision of this Agreement relating to such Loan, then the Lender may, by notice to the Borrower: (a) designate alternative forms of Loaned Assets or Collateral capable of satisfying each Party’s transfer obligations under this Section 6 and/or other payment obligations under this Agreement, or (b) determine that all transfer and payment obligations under this Agreement will be settled in the Contractual Currency. If Lender provides such notice to Borrower, a “Disruption Event” will be deemed to have occurred. For the avoidance of doubt, the amounts owing in alternative forms of Loaned Assets or Collateral under this Section 6.4 will be determined by reference to the Market Value of the Loaned Asset or Collateral calculated at the time such payment is owing or otherwise at a time reasonably determined by Lender. Unless a notice by Xxxxxx expressly states otherwise, reference to “other payment obligations under this Agreement” in Section 6.4(a) and “transfer and payment obligations under this Agreement” in Section 6.4(b) will be deemed to exclude Distributions. 6.5 If an event or circumstance which would otherwise constitute or give rise to an Event of Default also constitutes a Disruption Event under Section 6.4, it will be treated as a Disruption Event and will not constitute an Event of Default.