Failure to Process Instructions. If (i) Customer provides BNPP NY with instructions in respect of corporate actions on the Hypothecated Securities (excluding any exercise of voting rights) which do not require Customer to be a record holder at the time of exercise, (ii) Customer provides at least five Business Days notice prior to the relevant exercise deadline, and (iii) BNPP NY fails to process Customer’s instructions in a commercially reasonable manner, BNPP NY shall provide Customer the cash equivalent of payments or distributions actually made but which Customer did not receive due to BNPP NY’s failure.
Appears in 14 contracts
Samples: Lending Agreement (Highland Global Allocation Fund), Lending Agreement (Highland Funds Ii), Lending Agreement (Midas Fund, Inc.)
