Loss of Stock Borrow. Applicable; provided that (i) the Hedging Party shall use commercially reasonable efforts to avoid a Loss of Stock Borrow on terms reasonably acceptable to the Hedging Party (it being understood that such party need not take any action that does not meet the Avoidance Criteria) and (ii) for the avoidance of doubt, Dealer and Counterparty acknowledge that a Loss of Stock Borrow will not occur to the extent Dealer is permitted under applicable law, rules, regulations and policies and this Confirmation to Rehypothecate a number of Shares constituting Collateral in an amount equal to the Hedging Shares. Maximum Stock Loan Rate: 200 basis points per annum. Increased Cost of Stock Borrow: Applicable; provided that (i) the Hedging Party shall use commercially reasonable efforts to avoid an Increased Cost of Stock Borrow on terms reasonably acceptable to the Hedging Party (it being understood that such party need not take any action that does not meet the Avoidance Criteria) and (ii) for the avoidance of doubt, Dealer and Counterparty acknowledge that an Increased Cost of Stock Borrow will not occur to the extent Dealer is permitted under applicable law, rules, regulations and policies and this Confirmation to Rehypothecate a number of Shares constituting Collateral in an amount equal to the Hedging Shares. Notwithstanding the foregoing or anything to the contrary in the Equity Definitions, if Counterparty revokes the Rehypothecation right hereunder, any Price Adjustment or amount paid by Counterparty pursuant to Section 12.9(b)(v) of the Equity Definitions will include, in addition to the rate to borrow Shares incurred by the Hedging Party, any balance sheet charges or funding costs incurred by Hedging Party on account of such revocation. Initial Stock Loan Rate: Zero basis points per annum. Modifications of Equity Definitions: Notwithstanding anything to the contrary in Section 12.9(b)(iv) and (v) of the Equity Definitions, in the case of a Loss of Stock Borrow or Increased Cost of Stock Borrow following a revocation by Counterparty of the Rehypothecation right with respect to any Component(s), Counterparty will not be permitted to lend to Dealer (x) Shares that constitute “control” and/or “restricted” securities for purposes of Section 5 of the Securities Act (as reasonably determined by Dealer) or (y) the Collateral Shares with respect to which the Rehypothecation right was revoked in order to avoid a Price Adjustment or termination of the Transaction. Notwith...
Loss of Stock Borrow. Applicable; provided that if a Loss of Stock Borrow affects only a portion of a Transaction, any right to terminate such Transaction in respect of such Loss of Stock Borrow shall be limited to such portion as reasonably determined by the Calculation Agent. Maximum Stock
Loss of Stock Borrow. Applicable; provided that the phrase “at a rate equal to or less than the Maximum Stock Loan Rate” at the end of the definition of Loss of Stock Borrow shall be deleted in its entirety; and provided further that Section 12.9(b)(iv) of the 2002 Definitions is hereby amended by deleting the phrase “at a rate equal to or less than the Maximum Stock Loan Rate” in each of the fifth and the seventh lines thereof. Increased Cost of Stock Borrow: Applicable Initial Stock Loan Rate: Zero basis points. Hedging Party: For all applicable Additional Disruption Events, Credit Suisse Determining Party: For all applicable Additional Disruption Events, Credit Suisse Non-Reliance: Non-Reliance: Applicable Agreements and Acknowledgments Regarding Hedging Activities: Applicable Additional Acknowledgments: Applicable
Loss of Stock Borrow. Applicable; provided that (a) Sections 12.9(a)(vii) and 12.9(b)(iv) of the Equity Definitions are amended by deleting the words “at a rate equal to or less than the Maximum Stock Loan Rate” and replacing it with the words “at a Borrow Cost equal to or less than the Maximum Stock Loan Rate”, and (b) Section 12.9(b)(iv) of the Equity Definitions is hereby amended by (I) deleting (1) subsection (A) in its entirety, (2) the phrase “or (B)” following subsection (A) and (3) the phrase “in each case” in subsection (B); and (II) replacing the phrase “neither the Non-Hedging Party nor the Lending Party lends Shares” with the phrase “such Lending Party does not lend Shares” in the penultimate sentence; provided further that the Hedging Party shall use commercially reasonable efforts to avoid a Loss of Stock Borrow on terms reasonably acceptable to the Hedging Party (it being understood that such party need not take any action that does not meet the Avoidance Criteria).
Loss of Stock Borrow. Applicable; provided that the phrase “at a rate equal to or less than the Maximum Stock Loan Rate” at the end of Section 12.9(a)(vii) of the Definitions shall be deleted. Increased Cost of Stock Borrow: Not Applicable Hedging Party: For all applicable Additional Disruption Events, Citibank Determining Party: For all applicable Additional Disruption Events, Citibank
Loss of Stock Borrow. Applicable; provided that the following clause shall be added directly after the word Rate in the seventh line of Section 12.9(b)(iv) of the Equity Definitions: “or (C) terminate the Transaction”. Maximum Stock Loan Rate: 100bps Increased Cost of Stock Borrow: Applicable Initial Stock Loan Rate: 25bps Determining Party: For all Extraordinary Events, MSCO Hedging Party: For all Additional Disruption Events, MSCO Non-Reliance: Applicable AGREEMENTS AND ACKNOWLEDGMENTS: Regarding Hedging Activities: Applicable Additional Acknowledgments: Applicable
Loss of Stock Borrow. Applicable, it being understood that the rate to borrow Shares shall be determined by reference to the terms of a commercially reasonable share borrowing arrangement and without regard to the Hedging Party’s cost of funding in connection with such borrowings. Maximum Stock Loan Rate: 100 basis points Increased Cost of Stock Borrow: Applicable, it being understood that the rate to borrow Shares shall be determined by reference to the terms of a commercially reasonable share borrowing arrangement and without regard to the Hedging Party’s cost of funding in connection with such borrowings. Initial Stock Loan Rate: 0 basis points until April 15, 2018 and 25 basis points thereafter. Hedging Party: For all applicable Additional Disruption Events, Dealer.
Loss of Stock Borrow. Applicable Maximum Stock Loan Rate: For each Transaction, as set forth in the related Supplemental Confirmation. Hedging Party: Dealer, or an Affiliate of Dealer that is involved in the hedging of the relevant Transaction. Determining Party: Dealer
Loss of Stock Borrow. Not Applicable
Loss of Stock Borrow. Not Applicable Increased Cost of Stock Borrow: Not Applicable Hedging Party: For all applicable Additional Disruption Events, Dealer who, in such capacity, shall make all determinations and calculations in good faith and in a commercially reasonable manner. Determining Party: For all applicable Extraordinary Events, Dealer. Non-Reliance: Applicable Agreements and Acknowledgements Regarding Hedging Activities: Applicable Additional Acknowledgements: Applicable
