Common use of Simultaneous Settlement Clause in Contracts

Simultaneous Settlement. Subject to paragraph (a), on the date and time that Equivalent Securities are required to be redelivered by the Borrower in accordance with the provisions of these Terms, unless otherwise agreed by the Borrower, the Lender must simultaneously pay any Cash Collateral (in respect of the Equivalent Securities to be redelivered) to the Borrower. Neither Party is obliged to make delivery (or to make a payment as the case may be) to the other unless it is satisfied that the other Party will make such delivery (or make an appropriate payment as the case may be) to it simultaneously. If it is not so satisfied (whether because an Event of Default has occurred in respect of the other Party or otherwise), it will notify the other Party and, unless that other Party has made arrangements which are sufficient to assure full delivery (or the appropriate payment as the case may be) to the notifying Party, the notifying Party (provided it is itself in a position, and willing, to perform its own obligations) may withhold delivery (or payment, as the case may be) to the other Party

Simultaneous Settlement. Subject to paragraph (a), on the date and time that Equivalent Securities are required to be redelivered by the Borrower in accordance with the provisions of these Terms, unless otherwise agreed by the Borrower, the Lender must simultaneously pay any Cash Collateral (in respect of the Equivalent Securities to be redeliveredEquivalentSecurities toberedelivered) to the Borrower. Neither Party is be obliged to make delivery (or to make a payment as the case may be) to the other unless it is satisfied that the other Party will make such delivery (or make otherunlessitissatisfiedthat theother Partywillmakesuchdelivery(ormake an appropriate payment as the case asthecase may be) to it simultaneously. If it is not so satisfied (whether because an Event of Default has occurred in respect of the occurredinrespect ofthe other Party or otherwise), it will notify the other theother Party and, unless that unlessthat other Party has made Partyhasmade arrangements which are sufficient to assure full delivery (or toassurefulldelivery(or the appropriate payment as the case may beasthecasemaybe) to the notifying Party, the notifying Party (provided it is itself in a position, and willing, to perform its own obligations) may withhold delivery (or payment, as the case may be) to the other Party.

Simultaneous Settlement. Subject to paragraph (a), on the date and time that Equivalent Securities are required to be redelivered by the Borrower in accordance with the provisions of these Terms, unless otherwise agreed by the Borrower, the Lender must simultaneously pay any Cash Collateral (in respect of the Equivalent Securities to be redelivered) to the Borrower. Neither Party is be obliged to make delivery (or to make a payment as the case may be) to the other unless it is satisfied that the other Party will make such delivery (or makesuch delivery(or make an appropriate payment as the case may be) to it simultaneously. If it is not so satisfied (whether because an Event of Default has occurred in respect of the other Party or otherwise), it will notify the other Party and, unless that other Party has made arrangements which are sufficient to assure full delivery (or the appropriate payment as the case may bethecase maybe) to the notifying Party, the notifying Party (provided it is itself in a position, and willing, to perform its own obligations) may withhold delivery (or payment, as the case may be) to the other Party.