Borrower Default. In the event of default by an Approved Borrower with respect to any loan entered into pursuant to a SLA, BBH&Co. will take such actions as are set forth in the applicable SLA. In addition, the following provisions shall apply.
Appears in 6 contracts
Sources: Securities Lending Agency Agreement (American Beacon Funds), Securities Lending Agency Agreement (Japan Fund Inc), Securities Lending Agency Agreement (Touchstone Institutional Funds Trust)
Borrower Default. In the event of a default by an Approved Borrower with respect to any loan Loan entered into pursuant to a an SLA, BBH&Co. will take such actions as are set forth in the applicable SLA. In addition, the following provisions shall apply.; provided, that in no event shall BBH&Co. be responsible for any shortfall in Collateral that results from any act or omission (including insolvency) of the Fund’s custodian or a Tri-Party Institution:
Appears in 1 contract
Sources: Securities Lending Agency Agreement (Catholic Responsible Investments Funds)