Securities Lending Agents definition

Securities Lending Agents means Canadian Imperial Bank of Commerce and The Bank of New York Mellon and “Securities Lending Agent” means any one of them.
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Securities Lending Agents means those agents who may act as securities lending agents for the Company, including The Bank of New York Mellon, CIBC Mellon Global Securities Services Company and Canadian Imperial Bank of Commerce.
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Examples of Securities Lending Agents in a sentence

  • The Portfolio Accounting & Reporting Director and supporting staff will coordinate daily interaction with the Master Custodian and/or Securities Lending Agent(s).

  • The cash collateral is invested by the Securities Lending Agents in accordance with approved investment guidelines.

  • The Funds may lend up to 33 1/3% of the value of the securities in their portfolios to brokers, dealers and financial institutions (but not individuals) under terms of participation in a securities lending programs administered by the Securities Lending Agents.

  • Daily NAV and Yields On a daily basis, the Agent will calculate and electronically transmit to the Advisor, the Client’s transfer agent, and Securities Lending Agents and other parties as needed by 6:00 p.m. NAV Net Assets Current Daily Factor 1 day simple yield 7 day simple yield 7 day compound yield 30 day distribution yields MTD (from previous months end, daily) YTD (provided daily) All reports to be delivered to the Advisor in a mutually agreed upon format.

  • Subject to the following subsection (ii), each Participant shall be entitled to the benefits of Section 5.01, Section 5.02, and Section 5.03 to the same extent as if it were a Lender and had acquired its interest by assignment pursuant to Section 12.04(b).

  • The Securities Lending Agent(s) is/are entitled to receive a fee out of the property of the relevant Underlying Fund (plus VAT thereon) for its/their services in relation to securities lending.

  • The Funds could also experience delays in recovering its securities and possible loss of income or value if the borrower fails to return the borrowed securities, although the Funds are indemnified from this risk by contract with the Securities Lending Agents.

  • Citi will calculate and deliver to the Advisor and Securities Lending Agents the daily net income distribution factor with a 99.0% accuracy and timeliness rate on a daily basis by 6:00 pm.

  • Report the Legal Entity Identifier (“LEI”) of the Securities Lending Agent(s), if available.

Related to Securities Lending Agents

  • Securities Lending Agreement means an agreement under which a local agency agrees to transfer securities to a borrower who, in turn, agrees to provide collateral to the local agency. During the term of the agreement, both the securities and the collateral are held by a third party. At the conclusion of the agreement, the securities are transferred back to the local agency in return for the collateral.

  • L/C Issuer means Bank of America in its capacity as issuer of Letters of Credit hereunder, or any successor issuer of Letters of Credit hereunder.

  • Canadian Securities Regulators means the applicable securities commission or securities regulatory authority in each of the Qualifying Jurisdictions;