Common use of Delivery of Collateral Clause in Contracts

Delivery of Collateral. (a) Upon the Bank’s written or oral request, or promptly, at any time that the Member becomes subject to any mandatory collateral delivery requirements that may be established in the Credit Policy, and until such time as may be agreed upon by the Bank in writing, the Member shall deliver to the Bank, or to a custodian designated by the Bank, such amount of Qualifying Collateral as may be necessary so that the Lendable Collateral Value of such Qualifying Collateral held by the Bank, or such custodian, meets or exceeds the Collateral Maintenance Level at all times. Collateral delivered to the Bank shall be endorsed or assigned, as appropriate, in recordable form by the Member to the Bank, as specified by the Bank. When requested by the Bank, such endorsements or assignments shall be in blanket form except that, in the case of First Mortgage Documents and Other Mortgage Documents, there shall be separate endorsements and assignments for each county or recording district in which the real property covered by an item of First Mortgage Collateral or Other Eligible Collateral is located. With respect to First Mortgage Collateral and mortgage loans which are Other Eligible Collateral that are delivered hereunder, the Member need only deliver the First Mortgage Documents and Other Mortgage Documents, unless otherwise directed by the Bank. Concurrently with the initial delivery of Collateral, the Member shall deliver to the Bank a status report and accompanying schedules, all in the form(s) prescribed by the Bank, specifying and describing the Collateral held by the Bank or its custodian and certifying that such Collateral is Qualifying Collateral.

Delivery of Collateral. All Collateral (aother than “Excepted Instruments” as defined in the Security Agreement) Upon shall be Delivered to and held by or on behalf of the Bank’s written Collateral Agent pursuant hereto; provided that so long as no Event of Default shall have occurred and be continuing, and except as required by the Security Agreement or oral requestany other Credit Document, each Credit Party may retain any Collateral (i) consisting of checks, drafts and other Instruments (other than Pledged Notes and any additional or promptlysubstitute promissory notes issued to or otherwise acquired by such Credit Party in respect of Pledged Notes) received by it in the ordinary course of business or (ii) which it is otherwise entitled to receive and retain pursuant to Section 5.01 hereof, at and the Collateral Agent shall, promptly upon request of any time that Credit Party, make appropriate arrangements for making any Collateral consisting of an Instrument or a Certificated Security pledged by such Credit Party available to it for purposes of presentation, collection or renewal (any such arrangement to be effected, to the Member becomes subject to any mandatory collateral delivery requirements that may be established extent deemed appropriate by the Collateral Agent, against a trust receipt or like document); and provided, further, that, except as otherwise provided in the Credit PolicyAgreement, Collateral constituting Uncertificated Securities and/or Securities Accounts on the Closing Date (and any Securities Entitlements credited to any such Securities Account) shall be Delivered on or prior to the date which is 30 days after the Closing Date. All Collateral Delivered hereunder and shall be accompanied by any required transfer tax stamps. The Collateral Agent shall have the right upon the occurrence and during the continuance of an Event of Default, and until upon notice to the Company, to cause any or all of the Collateral to be transferred of record into the name of the Collateral Agent or its nominee. Each Credit Party will promptly give the Collateral Agent copies of any material notices or other material communications received by it with respect to Collateral registered in the name of such time as may be agreed upon Credit Party, and the Collateral Agent will promptly give each Credit Party copies of any material notices and material communications received by the Bank Collateral Agent with respect to Collateral registered in writing, the Member shall deliver to the Bank, or to a custodian designated by the Bank, such amount name of Qualifying Collateral as may be necessary so that the Lendable Collateral Value of such Qualifying Collateral held by the Bank, or such custodian, meets or exceeds the Collateral Maintenance Level at all times. Collateral delivered to the Bank shall be endorsed or assigned, as appropriate, in recordable form by the Member to the Bank, as specified by the Bank. When requested by the Bank, such endorsements or assignments shall be in blanket form except that, in the case of First Mortgage Documents and Other Mortgage Documents, there shall be separate endorsements and assignments for each county or recording district in which the real property covered by an item of First Mortgage Collateral or Other Eligible Collateral is located. With respect to First Mortgage Collateral and mortgage loans which are Other Eligible Collateral that are delivered hereunder, the Member need only deliver the First Mortgage Documents and Other Mortgage Documents, unless otherwise directed by the Bank. Concurrently with the initial delivery of Collateral, the Member shall deliver to the Bank a status report and accompanying schedules, all in the form(s) prescribed by the Bank, specifying and describing the Collateral held by the Bank Agent or its custodian and certifying that such Collateral is Qualifying Collateralnominee or custodian.

Delivery of Collateral. (aA) Upon the Bank’s written or oral request, or promptly, promptly at any time that the Member becomes subject to any mandatory collateral delivery requirements that may be established in writing by the Credit PolicyBank, and until such time as may be agreed upon by the Bank in writing, the Member shall deliver to the Bank, or to a custodian designated by the Bank, such amount of Qualifying First Mortgage Collateral as may be necessary so that the Lendable Collateral Value of such Qualifying Collateral held by the Bank, or such custodian, meets or exceeds the Collateral Maintenance Level at all times. Collateral delivered to the Bank shall be endorsed or assigned, as appropriate, in recordable form by the Member to the Bank, as specified by the Bank. When requested Unless otherwise indicated by the Bank, such endorsements or assignments shall may be in blanket form except that, in the case of First Mortgage Documents and Other Mortgage Documents, provided that there shall be separate endorsements and assignments for each county or recording district in which the real property covered by an item of First Mortgage Collateral or Other Eligible Collateral is located. With respect to First Mortgage Collateral and mortgage loans which are Other Eligible Collateral that are delivered hereunder, the The Member need only deliver the First Mortgage Documents and Other relating to the First Mortgage DocumentsCollateral delivered hereunder together with recordable assignments of the mortgages, unless otherwise directed by the Bank. Concurrently with the initial delivery of Collateral, the Member shall deliver to the Bank a status report and accompanying schedules, all in the form(s) prescribed by the Bank, specifying and describing the Collateral held by the Bank or its custodian and certifying that such Collateral is Qualifying Collateral.

Delivery of Collateral. All certificates or instruments representing or evidencing the Collateral shall be delivered to and held by or on behalf of the Collateral Agent pursuant hereto and shall be in suitable form for transfer by delivery, or shall be accompanied by duly executed undated instruments of transfer or assignment in blank, all in form and substance reasonably satisfactory to the Collateral Agent. If the Pledgor shall become entitled to receive or shall receive any other Collateral, then the Pledgor shall, except as otherwise provided in Section 7 hereof, accept and hold the same in trust for the Collateral Agent and segregated from the other property or funds of Pledgor, and shall deliver to the Collateral Agent forthwith all such other Collateral (aexcept as provided in Section 7 hereof) in the form received by the Pledgor, to be held by the Collateral Agent, subject to the terms hereof, as part of the Collateral. Upon the Bank’s written occurrence and during the continuance of an Event of Default or oral requesta Trigger Event, or promptlythe Collateral Agent shall have the right, at any time that in its discretion and without notice to the Member becomes subject Pledgor, to any mandatory collateral delivery requirements that may be established transfer to or to register in the Credit Policyname of the Collateral Agent or any of its nominees any or all of the Collateral. Subject to Section 7 hereof, and until such time as may be agreed upon all Additional Collateral that is received by the Bank in writingPledgor shall, the Member shall deliver until paid or delivered to the BankCollateral Agent, or to a custodian designated by the Bank, such amount of Qualifying Collateral as may be necessary so that the Lendable Collateral Value of such Qualifying Collateral held by the Bank, or such custodian, meets or exceeds Pledgor in trust for the benefit of the Collateral Maintenance Level at all times. Collateral delivered Agent and shall be segregated from the other funds of the Pledgor and the Pledgor shall deliver the same forthwith to the Bank shall be endorsed or assignedCollateral Agent in the exact form received, as appropriatewith the endorsement of the Pledgor when necessary and/or appropriate undated stock powers duly executed in blank, in recordable form by the Member to the Bankor, as specified by the Bank. When if requested by the BankCollateral Agent, such endorsements an additional pledge agreement or assignments shall be in blanket form except that, in the case of First Mortgage Documents security agreement executed and Other Mortgage Documents, there shall be separate endorsements and assignments for each county or recording district in which the real property covered by an item of First Mortgage Collateral or Other Eligible Collateral is located. With respect to First Mortgage Collateral and mortgage loans which are Other Eligible Collateral that are delivered hereunder, the Member need only deliver the First Mortgage Documents and Other Mortgage Documents, unless otherwise directed by the Bank. Concurrently with the initial delivery of Collateral, the Member shall deliver to the Bank a status report and accompanying schedulesPledgor, all in the form(s) prescribed by the Bank, specifying form and describing substance satisfactory to the Collateral Agent, to be held by the Bank or its custodian and certifying that such Collateral is Qualifying CollateralAgent subject to the terms hereof, as additional collateral security for the Obligations.

Delivery of Collateral. (a) Upon demand by the Bank’s written or oral request, or promptly, promptly at any time that the Member Borrower becomes subject to any mandatory collateral delivery requirements that may be established in writing by the Credit PolicyBank, and until such in either case from time as may be agreed upon by the Bank in writingto time thereafter, the Member Borrower shall deliver to the Bank, or to a custodian designated by the Bank, such amount of Qualifying Collateral as may be necessary so that the Lendable Collateral Fair Market Value of such Qualifying Collateral held by the Bank, or such custodian, meets or exceeds the Collateral Maintenance Level at all times. Collateral delivered to the Bank shall be endorsed or assigned, as appropriate, assigned in recordable form by the Member Borrower to the Bank, as . Unless otherwise specified by the Bank. When requested in writing by the Bank, such endorsements or assignments shall may be in blanket form except provided that, in the case of First Mortgage Documents Collateral, Small Business Collateral, Small Farm and Agri-Business Collateral, and Other Mortgage DocumentsReal Estate Related Collateral, there shall be separate endorsements and assignments for each county or recording district in which the real property covered secured by an item of such First Mortgage Collateral Collateral, Small Business Collateral, Small Farm and Agri-Business Collateral, or Other Eligible Real Estate Related Collateral is located. With respect to First Mortgage Collateral and mortgage loans which are Other Eligible Collateral that are delivered hereunder, the Member need only deliver the First Mortgage Documents and Other Mortgage Documents, unless otherwise directed by the Bank. Concurrently with the initial delivery under this Section 3.5 of CollateralCollateral and promptly after each subsequent valuation date established by the Bank, and at such other times as the Member Bank may request, Borrower shall deliver to the Bank a status report and accompanying schedules, all in the form(s) form prescribed by the BankBank and dated as of the then most recent valuation date, specifying and describing the Collateral held by the Bank or its custodian and certifying that such Collateral is Qualifying Collateralcustodian.

Delivery of Collateral. (aA) Upon the Bank’s 's written or oral request, or promptly, promptly at any time that the Member becomes subject to any mandatory collateral delivery requirements that may be established in writing by the Credit PolicyBank, and until such time as may be agreed upon by the Bank in writing, the Member shall deliver to the Bank, or to a custodian designated by the Bank, such amount of Qualifying First Mortgage Collateral as may be necessary so that the Lendable Collateral Value of such Qualifying Collateral held by the Bank, or such custodian, meets or exceeds the Collateral Maintenance Level at all times. Collateral delivered to the Bank shall be endorsed or assigned, as appropriate, in recordable form by the Member to the Bank, as specified by the Bank. When requested Unless otherwise indicated by the Bank, such endorsements or assignments shall may be in blanket form except that, in the case of First Mortgage Documents and Other Mortgage Documents, provided that there shall be separate endorsements and assignments for each county or recording district in which the real property covered by an item of First Mortgage Collateral or Other Eligible Collateral is located. With respect to First Mortgage Collateral and mortgage loans which are Other Eligible Collateral that are delivered hereunder, the The Member need only deliver the First Mortgage Documents and Other relating to the First Mortgage DocumentsCollateral delivered hereunder together with recordable assignments of the mortgages, unless otherwise directed by the Bank. Concurrently with the initial delivery of Collateral, the Member shall deliver to the Bank a status report and accompanying schedules, all in the form(s) prescribed by the Bank, specifying and describing the Collateral held by the Bank or its custodian and certifying that such Collateral is Qualifying Collateral.

Delivery of Collateral. (a1) Upon Within two business days of the Bank’s 's written or oral request, or promptly, immediately at any time that the Member becomes subject to any mandatory collateral Collateral delivery requirements that may be established in writing by the Credit PolicyBank, and until such in either case from time as may be agreed upon by the Bank in writingto time thereafter, the Member shall deliver to the Bank, or to a custodian bailee designated by the Bank, such amount of Qualifying Eligible Collateral as may be necessary so that the Lendable Collateral Value Borrowing Capacity of such Qualifying Eligible Collateral held by the Bank, or such custodianbailee, meets equals or exceeds the Collateral Maintenance Level at all times. For the purpose of verifying the accuracy of the Bank's records, the Member hereby authorizes the Bank, upon receipt of Mortgage Documents or Multifamily Mortgage Documents, to affix or otherwise attach to each mortgage note, multifamily mortgage note, or other writings included therein labels or stickers containing identification codes. In all cases, Collateral delivered to the Bank shall be endorsed or assigned, as appropriate, in recordable form assigned by the Member to the Bank, as specified by the Bank. When requested by the Bank, such endorsements or assignments shall be in blanket form except that, Bank in the case of First Mortgage Documents manner required pursuant to Section III.E.(1) and Other Mortgage Documents, there shall be separate endorsements and assignments for each county or recording district in which otherwise as the real property covered by an item of First Mortgage Collateral or Other Eligible Collateral is located. With respect to First Mortgage Collateral and mortgage loans which are Other Eligible Collateral that are delivered hereunder, the Member need only deliver the First Mortgage Documents and Other Mortgage Documents, unless otherwise directed by the BankBank may require. Concurrently with the initial delivery of CollateralCollateral and within 30 days of each subsequent valuation date established by the Bank (and at such other times as the Bank may request), the Member shall deliver to the Bank a status report and accompanying schedulesCollateral Update Report dated as of the then most recent valuation date, all in the form(s) prescribed by the Bank, specifying and describing the Mortgage Collateral or Multifamily Mortgage Collateral held by the Bank and any of its bailees (or, in this case of Collateral other than Mortgage Collateral or Multifamily Mortgage Collateral, a writing in such form as may be prescribed from time to time by the Bank). In addition, the Member shall, upon request of the Bank, forthwith take such other actions as the Bank shall deem necessary or appropriate to perfect its custodian and certifying that such Collateral is Qualifying security interest in the Collateral.

Delivery of Collateral. (a) Upon the Bank’s written or oral request, or promptly, at any time that the Member becomes subject to any mandatory collateral delivery requirements that may be established in the Credit Policy, and until such time as may be agreed upon by the Bank in writing, the The Member shall deliver to the Bank, or to a custodian designated by the Bank, such amount of Qualifying Collateral as may be necessary so that the Lendable Collateral Value of such Qualifying Collateral held by the Bank, or such custodian, meets or exceeds the Collateral Maintenance Level at all times. Collateral delivered to the Bank shall be endorsed or assigned, as appropriate, in recordable form by the Member to the Bank, as specified by the Bank. When requested by the Bank, such endorsements or assignments shall be in blanket form except that, in the case of First Mortgage Documents and Other Mortgage Documents, there shall be separate endorsements and assignments for each county or recording district in which the real property covered by an item of First Mortgage Collateral or Other Eligible Collateral is located. With respect to First Mortgage Collateral and mortgage loans which are Other Eligible Collateral that are delivered hereunder, the Member need only deliver the First Mortgage Documents and Other Mortgage Documents, unless otherwise directed by the Bank. 250390-3 (Custom Form for Trustmark) Concurrently with the initial delivery of Collateral, the Member shall deliver to the Bank a status report and accompanying schedules, all in the form(s) prescribed by the Bank, specifying and describing the Collateral held by the Bank or its custodian and certifying that such Collateral is Qualifying Collateral.

Delivery of Collateral. (aA) Upon the Bank’s 's written or oral request, or promptly, promptly at any time that the Member becomes subject to any mandatory collateral delivery requirements that may be established in writing by the Credit PolicyBank, and until such time as may be agreed upon by the Bank in writing, the Member shall deliver to the Bank, or to a custodian designated by the Bank, such amount of Qualifying Collateral as may be necessary so that the Lendable Collateral Value of such Qualifying Collateral held by the Bank, or such custodian, meets or exceeds the Collateral Maintenance Level at all times. The Member shall also deliver to the Bank, or to a custodian designated by the Bank, additional Collateral (which may be Collateral that is not Qualifying Collateral) in such amount as may be required by the Bank. Collateral delivered to the Bank shall be endorsed or assigned, as appropriate, in recordable form by the Member to the Bank, as specified by the Bank. When requested Unless otherwise indicated by the Bank, such endorsements or assignments shall may be in blanket form except thatand, in the case of First Mortgage Documents and Other Mortgage Documents, there shall be separate endorsements and assignments for each county or recording district in which the real property covered by an item of First Mortgage Collateral or Other Eligible Collateral such mortgage loans is located. With respect to First Mortgage Collateral and mortgage loans which are Other Eligible Collateral that are delivered hereunder, the Member need only deliver the First Mortgage Documents and Other Mortgage DocumentsDocuments together with recordable assignments of the mortgages, unless otherwise directed by the Bank. Concurrently with the initial delivery of Collateral, the Member shall deliver to the Bank a status report and accompanying schedules, all in the form(s) prescribed by the Bank, specifying and describing the Collateral held by the Bank or its custodian and certifying identifying those items of Collateral that such Collateral is are Qualifying Collateral.

Delivery of Collateral. (aA) Upon the BankFHLBNY’s written or oral request, or promptly, promptly at any time that the Member becomes subject to any mandatory collateral delivery requirements that may be established in writing by the Credit PolicyFHLBNY, and until such in either case from time as may be agreed upon by the Bank in writingto time thereafter, the Member shall deliver to the BankFHLBNY, or to a custodian designated by the BankFHLBNY, such amount of Qualifying Collateral as may be necessary so that the Lendable Collateral Value Fair Market value of such Qualifying Collateral held by the BankFHLBNY, or such custodian, meets or exceeds the Collateral Maintenance Level at all times. Mortgage Notes Collateral and Mortgage Documents delivered to the Bank FHLBNY shall be endorsed or assigned, as appropriate, in recordable form assigned by the Member to the Bank, as specified FHLBNY. Unless otherwise indicated by the Bank. When requested by the BankFHLBNY, such endorsements or assignments shall may be in blanket form except provided, that, in the case of First Mortgage Documents and Other Mortgage Documents, the assignments shall be in recordable form and there shall be separate endorsements and assignments for each county or recording district in which the real property covered by an item of First such Mortgage Collateral or Other Eligible Collateral Documents is located. With respect to First Mortgage Collateral and mortgage loans which are Other Eligible Collateral that are delivered hereunder, the The Member need only deliver the First Mortgage Documents and Other Mortgage Documents, unless otherwise directed by the BankFHLBNY, and may retain all written and electronic information, documents, and instruments relating thereto. Concurrently with the initial delivery of CollateralCollateral and within ten days of each subsequent valuation date established by the FHLBNY (and at such other times as the FHLBNY may request), the Member shall will deliver to the Bank FHLBNY a status report and accompanying schedules, all in the form(s) form prescribed by the BankFHLBNY and dated as of the then most recent valuation date, specifying and describing the Collateral held by the Bank FHLBNY or its custodian and certifying that such Collateral is Qualifying Collateralcustodian.

Delivery of Collateral. (a) Upon All certificates representing or evidencing the Bank’s written Pledged Stock shall be delivered to and held by or oral requeston behalf of Pledgee pursuant hereto and shall be accompanied by duly executed instruments of transfer or assignments in blank, or promptly, at any time that all in form and substance satisfactory to the Member becomes subject to any mandatory collateral delivery requirements that may be established in Pledgee. Each Pledgor hereby authorizes the Credit Policy, and until such time as may be agreed Issuer upon demand by the Bank Pledgee to deliver any certificates, instruments or other distributions issued in writing, connection with the Member shall deliver Collateral directly to the BankPledgee, or in each case to a custodian designated by the Bank, such amount of Qualifying Collateral as may be necessary so that the Lendable Collateral Value of such Qualifying Collateral held by the BankPledgee, subject to the terms hereof. If an Event of Default (as defined below) has occurred and is continuing beyond any applicable grace period, the Pledgee shall have the right, during such time in its discretion and without notice to the Pledgor, to transfer to or to register in the name of the Pledgee or any of its nominees any or all of the Pledged Stock. In addition, the Pledgee shall have the right at such custodiantime to exchange certificates or instruments representing or evidencing Pledged Stock for certificates or instruments of smaller or larger denominations. Notwithstanding anything contained herein to the contrary, meets Pledgee acknowledges that all certificates representing or exceeds evidencing the Collateral Maintenance Level at all timesPledged Stock have been previously delivered to Laurus Master Fund, Ltd. (“Laurus”) as collateral security for the Pledgor’s obligations to Laurus. Collateral The Pledgee hereby agrees that, so long as the Pledged Stock is pledged to Laurus and Laurus is in possession of such certificates, such certificates shall not be required to be delivered to the Bank Pledgee; provided, however, that once Laurus terminates its security interest in such Pledged Stock the certificates shall be endorsed or assigned, as appropriate, in recordable form by the Member delivered to the Bank, as specified by the Bank. When requested by the Bank, such endorsements or assignments shall Pledgee to be in blanket form except that, in the case of First Mortgage Documents and Other Mortgage Documents, there shall be separate endorsements and assignments for each county or recording district in which the real property covered by an item of First Mortgage Collateral or Other Eligible Collateral is located. With respect to First Mortgage Collateral and mortgage loans which are Other Eligible Collateral that are delivered hereunder, the Member need only deliver the First Mortgage Documents and Other Mortgage Documents, unless otherwise directed by the Bank. Concurrently with the initial delivery of Collateral, the Member shall deliver to the Bank a status report and accompanying schedules, all in the form(s) prescribed by the Bank, specifying and describing the Collateral held by the Bank or its custodian and certifying that such Collateral is Qualifying CollateralPledgee in accordance with the terms of this Agreement.

Delivery of Collateral. (a) Upon demand by the Bank’s written or oral request, or promptly, promptly at any time that the Member Borrower becomes subject to any mandatory collateral delivery requirements that may be established in writing by the Credit PolicyBank, and until such in either case from time as may be agreed upon by the Bank in writingto time thereafter, the Member Borrower shall deliver to the Bank, or to a custodian designated by the Bank, such amount of Qualifying Collateral as may be necessary so that the Lendable Collateral Fair Market Value of such Qualifying Collateral held by the Bank, or such custodian, meets or exceeds the Collateral Maintenance Level at all times. Collateral delivered to the Bank shall be endorsed or assigned, as appropriate, assigned in recordable form by the Member Borrower to the Bank, as . Unless otherwise specified by the Bank. When requested in writing by the Bank, such endorsements or assignments shall may be in blanket form except provided that, in the case of First Mortgage Documents Collateral, Small Business Collateral, Small Farm and Agri-Business Collateral, and Other Mortgage DocumentsReal Estate Related Collateral, there shall be separate endorsements and assignments for each county or recording district in which the real property covered secured by an item of such First Mortgage Collateral Collateral, Small Business Collateral, Small Farm and Agri- Business Collateral, or Other Eligible Real Estate Related Collateral is located. With respect to First Mortgage Collateral and mortgage loans which are Other Eligible Collateral that are delivered hereunder, the Member need only deliver the First Mortgage Documents and Other Mortgage Documents, unless otherwise directed by the Bank. Concurrently with the initial delivery under this Section 3.5 of CollateralCollateral and promptly after each subsequent valuation date established by the Bank, and at such other times as the Member Bank may request, Borrower shall deliver to the Bank a status report and accompanying schedules, all in the form(s) form prescribed by the BankBank and dated as of the then most recent valuation date, specifying and describing the Collateral held by the Bank or its custodian and certifying that such Collateral is Qualifying Collateralcustodian.

Delivery of Collateral. All Collateral shall be Delivered to and held by or on behalf of the Collateral Agent pursuant hereto; provided that so long as no Event of Default shall have occurred and be continuing, and except as required by the Security Agreement or any other Finance Document, each Loan Party may retain any Collateral (ai) Upon consisting of checks, drafts and other Instruments (other than Pledged Notes and any additional or substitute promissory notes issued to or otherwise acquired by such Loan Party in respect of Pledged Notes) received by it in the Bank’s written ordinary course of business or oral request(ii) which it is otherwise entitled to receive and retain pursuant to Section 5.01 hereof, and the Collateral Agent shall, promptly upon request of any Loan Party, make appropriate arrangements for making any Collateral consisting of an Instrument or promptlya Certificated Security pledged by such Loan Party available to it for purposes of presentation, at collection or renewal (any time that such arrangement to be effected, to the Member becomes subject extent deemed appropriate to the Collateral Agent, against trust receipt or like document). All Collateral Delivered hereunder shall be accompanied by any required transfer tax stamps. To the extent permitted applicable Law, the Collateral Agent shall have the right upon the occurrence and during the continuance of an Event of Default, and upon notice to any mandatory collateral delivery requirements that may Loan Party, to cause any or all of the Collateral to be established transferred of record into the name of the Collateral Agent or its nominee. Each Loan Party will promptly give the Collateral Agent copies of any notices or other communications received by it with respect to Collateral registered in the Credit Policyname of such Loan Party, and until such time as may be agreed upon the Collateral Agent will promptly give each Loan Party copies of any notices and communications received by the Bank Collateral Agent with respect to Collateral registered in writing, the Member shall deliver to the Bank, or to a custodian designated by the Bank, such amount name of Qualifying Collateral as may be necessary so that the Lendable Collateral Value of such Qualifying Collateral held by the Bank, or such custodian, meets or exceeds the Collateral Maintenance Level at all times. Collateral delivered to the Bank shall be endorsed or assigned, as appropriate, in recordable form by the Member to the Bank, as specified by the Bank. When requested by the Bank, such endorsements or assignments shall be in blanket form except that, in the case of First Mortgage Documents and Other Mortgage Documents, there shall be separate endorsements and assignments for each county or recording district in which the real property covered by an item of First Mortgage Collateral or Other Eligible Collateral is located. With respect to First Mortgage Collateral and mortgage loans which are Other Eligible Collateral that are delivered hereunder, the Member need only deliver the First Mortgage Documents and Other Mortgage Documents, unless otherwise directed by the Bank. Concurrently with the initial delivery of Collateral, the Member shall deliver to the Bank a status report and accompanying schedules, all in the form(s) prescribed by the Bank, specifying and describing the Collateral held by the Bank Agent or its custodian and certifying that such Collateral is Qualifying Collateralnominee or custodian.

Delivery of Collateral. (aA) Upon the Bank’s 's written or oral request, or promptly, promptly at any time that the Member becomes subject to any mandatory collateral delivery requirements that may be established in writing by the Credit PolicyBank, and until such time as may be agreed upon by the Bank in writing, the Member shall deliver to the Bank, or to a custodian designated by the Bank, such amount of Qualifying Collateral as may be necessary so that the Lendable Collateral Value of such Qualifying Collateral held by the Bank, or such custodian, meets or exceeds the Collateral Maintenance Level at all times. The Member shall also deliver to the Bank, or to a custodian designated by the Bank, additional Collateral (which may be Collateral that is not Qualifying Collateral) in such amount as may be required by the Bank. Collateral delivered to the Bank Bank, shall be endorsed or assigned, as appropriate, in recordable form by the Member to the Bank, as specified by the Bank. When requested Unless otherwise indicated by the Bank, such endorsements or assignments shall may be in blanket form except thatand, in the case of First Mortgage Documents and Other Mortgage Documents, there shall be separate endorsements and assignments for each county or recording district in which the real property covered by an item of First Mortgage Collateral or Other Eligible Collateral such mortgage loans is located. With respect to First Mortgage Collateral and mortgage loans which are Other Eligible Collateral that are delivered hereunder, the Member need only deliver the First Mortgage Documents and Other Mortgage DocumentsDocuments together with recordable assignments of the mortgages, unless otherwise directed by the Bank. Concurrently with the initial delivery of Collateral, the Member shall deliver to the Bank a status report and accompanying schedules, all in the form(s) prescribed by the Bank, . specifying and describing the Collateral held need by the Bank or its custodian and certifying identifying those items of Collateral that such Collateral is are Qualifying Collateral.