Examples of Cash Loan in a sentence
The failure by State Street to so identify or designate certain items of Custodial Collateral as Securities Loan Collateral or Cash Loan Collateral shall not adversely affect or invalidate any existing Liens granted to State Street under this Agreement or under any Collateral Documents.
The Borrower agrees and acknowledges that such Cash Loan shall be used solely to provide cash as Securities Loan Collateral hereunder for a Securities Loan hereunder.
State Street shall have no obligation whatsoever to make any such Cash Loan to the Borrower.
State Street shall not have the right to use, invest or re-hypothecate such Cash Loan Collateral, provided, however, that the foregoing restrictions shall not be intended to preclude State Street from exercising any remedy provided for in Section 13 hereof with respect to such Cash Loan Collateral upon an Event of Default with respect to the Borrower.
The Borrower hereby grants to and for the benefit of State Street, as further security for the Securities Loan Obligations and the Cash Loan Obligations, a security interest in all of the rights, title and interest of the Borrower in and to the Custodial Collateral, in each case whether now owned or hereafter acquired by the Borrower, wherever located and whether now or hereafter existing or arising.
Each Cash Loan hereunder shall be secured by the identification and designation, on the custodial or other books and records of State Street relating to the Borrower, of Liquid Custodial Collateral as Securities Loan Collateral in accordance with Section 13.7 hereof (the “Cash Loan Collateral”), the Collateral Value of which Cash Loan Collateral shall equal or exceed the Cash Loan Margin Amount for such Cash Loan.
Such security interest shall survive the termination of this Agreement to the extent the Borrower has not satisfied in full all of its Securities Loan Obligations and Cash Loan Obligations to State Street.
The security interest provided for in this Section 7 is in addition to any security interest granted pursuant to Sections 3.4 and 6.3 hereof and shall not be affected by any taking, exchange, release or non-perfection of any Securities Loan Collateral or Cash Loan Collateral hereunder or any manner of application of any such Securities Loan Collateral or Cash Loan Collateral hereunder or the proceeds thereof.
Upon delivery of the Securities Loan Collateral in accordance with Section 4.1 or the identification and designation of any Custodial Collateral as Securities Loan Collateral or Cash Loan Collateral, as applicable, State Street will have, as security for the Securities Loan Obligations or Cash Loan Obligations, as applicable, a perfected first priority security interest in the Securities Loan Collateral or the Cash Loan Collateral, as applicable.
The minimum monthly payment on all Instant Cash Loan Advances is 3% of the balance outstanding after each advance, but at no time will the minimum payment be less than $20.00.