Common use of TERMINATION OF TRANSACTIONS, TRANSFER OF EQUIVALENT SECURITIES Clause in Contracts

TERMINATION OF TRANSACTIONS, TRANSFER OF EQUIVALENT SECURITIES. 8.01 A Fund may instruct the Bank to terminate any Lending Transaction in whole or in part by delivering to the Bank a valid Recall Notice in accordance with Clause 20, in which case, provided that no fixed term arrangements with respect to such Fund’s Securities have been agreed by the Bank on behalf of such Fund, the Bank shall immediately demand that the relevant Counterparty effect a Transfer of Equivalent Securities, to the extent that this is permitted under the relevant Counterparty Agreement. Upon any such termination, the Counterparty shall be required, to the extent that the relevant Counterparty Agreement so permits to effect a transfer of Equivalent Securities within the Recall Period. Unless otherwise indicated to the Funds by the Bank, the Recall Period for each type of security shall be the relevant standard settlement period for such security.

TERMINATION OF TRANSACTIONS, TRANSFER OF EQUIVALENT SECURITIES. 8.01 A Fund The Client may instruct the Bank to terminate any Lending Transaction in whole or in part by delivering to the Bank a valid Recall Notice in accordance with Clause 20, in which case, provided that no fixed term arrangements with respect to such Fund’s any Client Securities have been agreed by the Bank on behalf of such Fundthe Client, the Bank shall immediately demand that the relevant Counterparty effect a Transfer of Equivalent Securities, to the extent that this is permitted under the relevant Counterparty Agreement. Upon any such termination, the Counterparty shall be required, to the extent that the relevant Counterparty Agreement so permits to effect a transfer of Equivalent Securities within the Recall Period. Unless otherwise indicated to the Funds Client by the Bank, the Recall Period for each type of security shall be the relevant standard settlement period for such security.