Common use of Securities Borrowing Agreements Clause in Contracts

Securities Borrowing Agreements. Manager may from time to time in its sole discretion enter into Securities Borrowing Agreements. Subject to the terms and conditions of this Agreement, Manager agrees, as Lender's agent, to exercise Lender's rights and remedies under Securities Borrowing Agreements, including, without limitation: (x) marking Loans to the market; and (y) collecting all Loan Collateral, all interest and other distributions payable by Approved Borrowers in respect of Loaned Securities and any Loan Fees and causing the same to be deposited in the Collateral Account or otherwise credited to Lender, as applicable. Manager shall delete any Approved Borrower from the list of Approved Borrowers upon receipt of Written Instructions to do so.

Securities Borrowing Agreements. Manager may from time to time in its sole discretion enter into Securities Borrowing Agreements. Subject to the terms and conditions of this Agreement, Manager agrees, as Lender's ’s agent, to exercise Lender's ’s rights and remedies under Securities Borrowing Agreements, including, without limitation: (x) marking Loans to the market; and (y) collecting all Loan Collateral, all interest and other distributions payable by Approved Borrowers in respect of Loaned Securities and any Loan Fees and causing the same to be deposited in the Collateral Account or otherwise credited to Lender, as applicable. Manager shall delete any Approved Borrower from the list of Approved Borrowers upon receipt of Written Instructions to do so.