Loan Termination. NFS is authorized in its discretion to terminate any securities loan entered into with an Approved Borrower without prior notice to the Trust, subject to the conditions of the relevant SLA. The Trust or the Adviser may instruct NFS to terminate any loan on any date, subject to the conditions of the relevant SLA. NFS agrees to comply with any such instruction. Securities loans shall generally be terminable on demand, subject to the terms of the SLA including, without limitation, the possibility of breakage fees.
Appears in 3 contracts
Sources: Securities Lending Agency Agreement (Fidelity Rutland Square Trust II), Securities Lending Agency Agreement (Fidelity Cherry Street Trust), Securities Lending Agency Agreement (Fidelity Devonshire Trust)