Receipt of Collateral; Approved Investments. (a) With respect to any Securities loan entered into on behalf of a Fund, BTC shall require that the Borrower deliver and maintain collateral that is equal at all times during the term of the loan to at least the market value of the Securities loaned and any accrued interest thereon. If Cash Collateral is received, BTC is hereby authorized and directed, without obtaining any further approval from the Fund, to invest and reinvest all or substantially all of the Cash Collateral received in any Approved Investments, including in the name of and on behalf of the Fund to redeem, withdraw or sell the same, and to receive distributions in the name of and on behalf of the Fund in accordance with the Securities Lending Guidelines. The Company hereby agrees to execute all necessary documents and take all necessary actions reasonably requested by BTC in order to permit BTC to so act with regard to Approved Investments. BTC shall instruct the Custodian to credit all Collateral, Approved Investments and Distributions received with respect to Collateral and Approved Investments to the Collateral Account and xxxx its books and records to identify the Fund’s ownership thereof as appropriate.
Receipt of Collateral; Approved Investments. (a) For each loan hereunder the Bank shall (i) initially receive Collateral equivalent to no less than 102% of the Market Value of the Securities lent and (ii) thereafter shall request on a daily basis as necessary additional Collateral, which shall be an amount such that the value of the Collateral in no event be equivalent to less than 100% of the Market Value of the Securities lent (as determined in accordance with the applicable Securities Borrowing Agreement), and the Bank is hereby authorized and directed, without obtaining any further approval from the Lender, to invest and reinvest all or substantially all of the Cash Collateral received in any Approved Investment. The Bank shall credit all Collateral, Approved Investments and Distributions received with respect to Collateral and Approved Investments to the Collateral Account and xxxx its books and records to identify the Lender’s ownership thereof as appropriate.
Receipt of Collateral; Approved Investments. (a) For each loan hereunder the Bank shall (i) initially receive (a) Collateral equivalent to no less than 102% of the market value of the Securities lent in the case of lent Securities denominated in U.S. Dollars or whose primary trading market is located in the United States or sovereign debt issued by foreign governments, or (b) Collateral equivalent to no less than 105% of the market value of the Securities lent in the case of lent Securities that are not denominated in U.S. Dollars or whose primary trading market is not located in the United States, and (ii) thereafter shall request on a daily basis as necessary additional Collateral, (a) which in the case of lent Securities denominated in U.S. Dollars or whose primary trading market is located in the United States or sovereign debt issued by foreign governments, shall be an amount such that the value of the Cash Collateral in no event be equivalent to less than 101.5% of the market value of the Securities lent (as determined in accordance with the applicable Securities Borrowing Agreement), and (b) which in the case of other types of lent Securities, shall be an amount such that the value of the Collateral in no event be equivalent to less than 104.5% of the market value of the Securities lent (as determined in accordance with the applicable Securities Borrowing Agreement). The Bank is hereby authorized and directed, without obtaining any further approval from the Lender, to invest and reinvest all or substantially all of the Cash Collateral received in any Approved Investment. The Bank shall credit all Collateral, Approved Investments and Distributions received with respect to Collateral and Approved Investments to the Collateral Account and xxxx its books and records to identify the Lender's ownership thereof as appropriate.
Receipt of Collateral; Approved Investments. (a) With respect to any Securities loan entered into on behalf of a Fund, BGI shall require that the Borrower deliver and maintain collateral that is equal at all times during the term of the loan to at least the market value of the Securities loaned and any accrued interest thereon. If Cash Collateral is received, BGI is hereby authorized and directed, without obtaining any further approval from the Fund, to invest and reinvest all or substantially all of the Cash Collateral received in any Approved Investments, including in the name of and on behalf of the Fund to redeem, withdraw or sell the same, and to receive distributions in the name of and on behalf of the Fund in accordance with the Securities Lending Guidelines. The Trust hereby agrees to execute all necessary documents and take all necessary actions reasonably requested by BGI in order to permit BGI to so act with regard to Approved Investments. BGI shall instruct the Custodian to credit all Collateral, Approved Investments and Distributions received with respect to Collateral and Approved Investments to the Collateral Account and xxxx its books and records to identify the Fund's ownership thereof as appropriate.
Receipt of Collateral; Approved Investments. (a) For each loan hereunder the Bank shall receive all Collateral required by the applicable Securities Borrowing Agreement, which for Cash Collateral shall in no event be equivalent to less than 102% of the market value of the Securities lent (as determined in accordance with the applicable Securities Borrowing Agreement), and the Bank is hereby authorized and directed, without obtaining any further approval from the Lender, to invest and reinvest all or substantially all of the Cash Collateral received in any Approved Investment. The Bank shall credit all Collateral, Approved Investments and Distributions received with respect to Collateral and Approved Investments to the Collateral Account and xxxx its books and records to identify the Lender's ownership thereof as appropriate.
Receipt of Collateral; Approved Investments. (a) For each loan hereunder BGI shall (i) initially receive Cash Collateral equivalent to no less than 102% (105% in the case of loans of foreign securities denominated in non-U.S. dollars) of the market value of the securities lent and (ii) thereafter shall request on a daily basis as necessary additional Collateral, which for Cash Collateral shall be an amount such that the value of the Cash Collateral in no event be equivalent to less than 100% of the market value of the Securities lent (as determined in accordance with the applicable Securities Lending Agreement), and BGI is hereby authorized and directed, without obtaining any further approval from the Lender, to invest and reinvest all or substantially all of the Cash Collateral received in any Approved Investments. BGI shall instruct the Custodian to credit all Collateral, Approved Investments and Distributions received with respect to Collateral and Approved Investments to the Collateral Account and xxxx its books and records to identify the Lender’s ownership thereof as appropriate.
Receipt of Collateral; Approved Investments. 4.1. For each Loan, Bank shall cause Collateral to be deposited in the Custody Account as required by the applicable Securities Lending Agreement. If each Customer authorizes the Bank to invest and reinvest all or substantially all of the funds or Cash Collateral received in connection with Loans the Bank shall do so be investing in any Approved Investments with an Approved Counterparty. Bank shall credit all Collateral and Approved Investments and proceeds thereof to the Custody Account and mark its books and records to identify each individual Customer’s interest therein as appropriate.
Receipt of Collateral; Approved Investments. (a) For each loan hereunder the Bank shall (i) initially receive Cash Collateral equivalent to no less than 100% of the market value of the securities lent and (ii) thereafter shall request on a daily basis as necessary additional Collateral, which for Cash Collateral shall be an amount such that the value of the Cash Collateral in no event be equivalent to less than 100% of the market value of the Securities lent (as determined in accordance with the applicable Securities Borrowing Agreement), and the Bank is hereby authorized and directed, without obtaining any further approval from the Lender, to invest and reinvest all or substantially all of the Cash Collateral received in any Approved Investment. The Bank shall credit all Collateral, Approved Investments and Distributions received with respect to Collateral and Approved Investments to the Collateral Account and mark its books and records to identify the Lender's ownership thereof xx appropriate.
Receipt of Collateral; Approved Investments. (a) The initial Collateral received shall have (depending on the nature of the loaned securities and the Collateral received) a value of 102% or 105% of the market value of the loaned Securities, or such other value, but not less than 102% of the market value of the loaned Securities, as may be applicable in the jurisdiction in which such loaned Securities are customarily traded. Pursuant to the terms of the applicable Securities Borrowing Agreement, the Bank shall, in accordance with the Bank’s reasonable and customary practices, xxxx loaned Securities and Collateral to their market value each business day based upon the market value of the Collateral and the loaned Securities at the close of business employing the most recently available pricing information and receive and deliver Collateral in order to maintain the value of the Collateral at no less than one hundred percent (100%) of the market value of the loaned Securities. The Bank is hereby authorized and directed, without obtaining any further approval from the Lender, to invest and reinvest all or substantially all of the Cash Collateral received in any Approved Investment. The Bank shall credit all Collateral, Approved Investments and Distributions received with respect to Collateral and Approved Investments to the Collateral Account and xxxx its books and records to identify the Lender’s ownership thereof as appropriate. Securities Lending Agreement 5
Receipt of Collateral; Approved Investments. (a) For each loan hereunder the Bank shall (i) initially receive Cash Collateral equivalent to no less than 102% for securities denominated in US Dollars and 105% for securities issued in non-US Dollars of the market value of the secruities lent and (ii) thereafter shall request on a daily basis as necessary additional Collateral, which for Cash Collateral shall be an amount such that the value of the Cash Collateral in no event be equivalent to less than 102% for securities denominated in US Dollars and 105% for securities issued in non-US Dollars of the market value of the securities lent (as determined in accordance with the applicable Securities Borrowing Agreement), and the Bank is hereby authorized and directed, without obtaining any further approval from the Lender, to invest and reinvest all or substantially all of the Cash Collateral received in any Approved Investment. The Bank shall credit all Collateral, Approved Investments and Distributions received with respect to Collateral and Approved Investments to the Collateral Account and mark its books and records to identify the Lender's ownership thereof ax xxpropriate.
