Termination of Loans. In addition to BTC’s authority to terminate a loan of Securities pursuant to the terms of the applicable Securities Lending Agreement as described in Section 2.4 above, BTC shall terminate any Securities loan to a Borrower in accordance with the applicable Securities Lending Agreement promptly:
(a) upon receipt by BTC of Oral Instructions or Written Instructions instructing it to terminate a Securities loan; provided that the Company may require that each Security must be returned to the Fund by no later than the date which is the standard settlement date for trades of such Security entered into on the date such Oral Instruction or Written Instruction is received by BTC;
(b) upon receipt by BTC of Oral Instructions or Written Instructions pursuant to the Securities Lending Guidelines to no longer lend to a particular Borrower;
(c) upon receipt of written notice from the Company terminating this Agreement with respect to one or more Funds in accordance with Section 6; or
(d) as contemplated by the Securities Lending Guidelines.
Termination of Loans. (a) Bank shall terminate any Loan as soon as practicable after:
(i) receipt by Bank of a notice of termination from a Borrower;
(ii) receipt by Bank of Oral or Written Instructions to do so;
(iii) receipt by Bank of Written Instructions instructing it to delete the Borrower to whom such Loan was made from the list referred to in Article I, paragraph 6 hereof;
(iv) receipt by Bank of Written Instructions described in Paragraph I of Article II hereof advising that the Loaned Security is no longer subject to the representations contained in Article III, sub-paragraph (e) hereof; or is not to be the subject of a Loan hereunder;
(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. Unless otherwise agreed between Bank and Lender, Bank will ensure that -if it receives on a Business Day prior to 12:30 p.m. N.Y. time Oral or Written Instructions to terminate a Loan, Bank shall send a notice on the same Business Day to Borrower terminating such Loan and requiring Borrower to return the Loaned Securities within the standard settlement time for trades in the particular Loaned Security (never to exceed 5 Business Days) beginning on the date Bank is required to send a notice of termination. If the Oral or Written Instructions to terminate a Loan are received by Bank on a Business Day after 12:30 p.m. N.Y. time but prior to 2:00 p.m., Bank shall use reasonable care to send the notice of termination to Borrower on the same date Bank received such Oral or Written Instructions; if such Oral or Written Instructions are received after 2:00 p.m. Bank need not send to Borrower a notice terminating the Loan until the next Business Day.
(b) Upon termination of any Loan (which shall be effected according to the standard settlement time for trades in the particular Loaned Security, never to exceed 5 Business Days) and receipt from the Borrower of the Loaned Securities and any Distributions then due, 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.
(c) In order for Bank to timely settle the sale of Loaned Securities, it shall be Lender's responsibility to ensure prompt notification to Bank regarding any such sa...
Termination of Loans. The Bank shall terminate any Securities loan to a Borrower in accordance with the applicable Securities Borrowing Agreement as soon as practicable after:
(a) receipt by the Bank of a notice of termination pursuant to the Securities Borrowing Agreement;
(b) receipt by the Bank of Written Instructions instructing it to terminate a Securities loan;
(c) receipt by the Bank of Written Instructions deleting the Borrower to whom such loan was made from Schedule II hereto;
(d) upon the Bank's becoming aware of the occurrence of any default pursuant to the applicable Securities Borrowing Agreement requiring termination of such loan; or
(e) whenever the Bank, in its sole discretion, elects to terminate such loan.
Termination of Loans. Bank shall accept Instructions from Lender or Agent in writing (which may be electronic) of when to expect the return of a Security on Loan in those cases other than where the Borrower terminates the Loan. Where a Borrower terminates a Loan, Lender or Agent shall so advise Bank and confirm to Bank whether or not the return should be accepted and Bank shall act accordingly. Upon its receipt of Securities back from Loan, Bank shall reflect the status of such Securities on its records as having been returned to custody.
Termination of Loans. (a) The Bank shall terminate any Securities loan to a Borrower in accordance with the applicable Securities Borrowing Agreement. as soon as practicable after:
(i) receipt by the Bank of a notice of termination from the Borrower pursuant to the Securities Borrowing Agreement;
(ii) receipt by the Bank of Written Instructions from the Lender instructing it to terminate a Securities loan;
(iii) receipt by the Bank of Written Instructions from the Lender deleting the Borrower as approved by the Lender;
(iv) upon the Bank’s becoming aware of the occurrence of any default pursuant to the applicable Securities Borrowing Agreement requiring termination of such loan;
(v) upon receipt of written notice from the Lender that the Securities subject to such loan are no longer available for lending pursuant to this Agreement.
(vi) whenever the Bank, in its sole discretion, elects to terminate such loan.
(b) Upon termination of a loan of Securities hereunder, the Bank shall instruct the Borrower to return the loaned Securities to the Account and shall receive the same. The Borrower is required to return such loaned Securities within such period of time specified in the Securities Borrowing Agreement but in no event later than the end of the customary settlement period. Without limiting any other obligation of the Bank hereunder, the Bank agrees that it shall not transfer (within the meaning of the Uniform Commercial Code) to the Borrower any Collateral in respect of such terminated loan except upon actual receipt of the loaned Securities.
Termination of Loans. Bank shall accept Instructions from Lender or Agent in writing (which may be electronic) of when to expect the return of a Security on Loan in those cases other than where the Borrower terminates the Loan. Where a Borrower terminates a Loan, Lender or Agent shall so advise Bank no later than the earlier of 5:00 p.m. or the close of the JPMorgan Prime Money Market Fund on each Business Day and confirm to Bank whether or not the return should be accepted and Bank shall act accordingly. Bank shall accept Instructions from Agent in writing (which may be electronic) of the amount of collateral to be delivered to the Borrower and shall act on such Instructions only upon or after receipt of the Securities on Loan. Upon its receipt of Securities back from Loan, Bank shall reflect the status of such Securities on its records as having been returned to custody.
Termination of Loans. All loans may be terminated on demand on any Business Day by a Lender. Each Lender acknowledges that, under the applicable SLA, the borrowers will not be required to return loaned securities immediately upon receipt of notice from GSAL terminating the applicable loan, but instead will be required to return such loaned securities within such period of time following such notice as is specified in the applicable SLA and in no event later than the end of the customary settlement period. Provided the Custodian, the Lender or the advisor identified by the Lender on Schedule 1 (the “Advisor”) has notified GSAL (including notice via reports provided to GSAL by Custodian electronically) by 4:00 p.m. on a business day that Available Securities which have been lent to a borrower should no longer be considered Available Securities (whether because of the sale of such securities or otherwise), GSAL shall notify the borrower by the Cut Off Time on the same Business Day that the loan of such securities is terminated (in the case of securities sold, up to the amount of securities so notified as having been sold) and that such securities are to be returned within the time specified by the applicable SLA; provided, however, that if the Custodian, the Lender or the Advisor notifies GSAL after 4:00 p.m., GSAL shall use best efforts to notify the Borrower on the same business day.
Termination of Loans. (a) Bank shall terminate any Loan:
(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 a Certificate instructing it to delete the Borrower to whom such Loan was made from the list referred to in Article I, paragraph 6 hereof,
(iv) upon receipt by Bank of a Certificate advising that the Loaned Security is no longer subject to the representations contained in Article III, sub-paragraph (e) hereof;
(v) upon receipt by Bank of notice or 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
(viii) unless otherwise directed by Lender, upon the termination of the provisions of paragraph 5(a) of this 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) and receipt from the Borrower of the Loaned Securities and any Distributions then due, 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.
(c) In order for Bank to timely settle the sale of Loaned Securities, it shall be Lender's responsibility to ensure 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. The Bank shall terminate any Securities loan to a Borrower in accordance with the applicable Securities Borrowing Agreement as soon as practicable (but in any event within three business days after notice by the Fund) after:
(a) receipt by the Bank of a notice of termination pursuant to the Securities Borrowing Agreement;
(b) receipt by the Bank of Written Instructions instructing it to terminate a Securities loan;
(c) receipt by the Bank of Written Instructions deleting the Borrower to whom such loan was made from Schedule III hereto;
(d) upon the Bank's becoming aware of the occurrence of any default pursuant to the applicable Securities Borrowing Agreement requiring termination of such loan; or
(e) whenever the Bank, in its sole discretion, elects to terminate such loan.
Termination of Loans. Loan Record Keeping and Reports (to be provided as part of, and be limited to, standard custody reporting)
