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EXHIBIT 9(r)
SECOND AMENDMENT TO THE SECURITIES LENDING AGREEMENT
(DOMESTICE SECURITIES), EFFECTIVE MAY 21, 1998, BETWEEN THE REGISTRANT,
BANC ONE INVESTMENT ADVISORS CORPORATION AND BANK ONE TRUST COMPANY, N.A.
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SECOND AMENDMENT TO THE SECURITIES LENDING AGREEMENT
(DOMESTIC SECURITIES)
This Second Amendment to the Securities Lending Agreement is hereby made
effective May __, 1998, by and between The One Group(R), an open-end management
investment company formed under the Investment Company Act of 1940 (the
"Lender"), Banc One Investment Advisors Corporation, an investment adviser under
the Investment Advisers Act of 1940 (the "Adviser"), and Bank One Trust Company,
N.A., a national banking association (the "Subcustodian").
BACKGROUND INFORMATION
Pursuant to the Securities Lending Agreement, dated as of August 1995 as
amended by the Amendment to Securities Lending Agreement, dated as of January
21, 1997 (the "Agreement"), the Lender participates in a Securities Lending
Program developed by the Adviser in conjunction with the Subcustodian. The
Lender, the Adviser, and the Subcustodian desire to amend the Agreement to: (i)
clarify the amount of securities which may be lent to Borrowers and (ii)
authorize the use of letters of credit as collateral for loans of securities.
STATEMENT OF AGREEMENT
The Lender, the Adviser, and the Subcustodian hereby acknowledge the
accuracy of the above Background Information and agree to amend the Agreement by
deleting Section 5 and Section 8(a) in their entirety and substituting the
following in their place:
"Section 5. MAKING OF LOANS. The Adviser will notify Borrowers that it is
prepared to lend securities of the Lender held in the Account. If the Adviser
determines, in response to a Borrower's orally advising the Adviser of its
desire to borrow securities, to lend securities of the Lender pursuant to a Loan
Agreement, the Adviser will instruct the Subcustodian to deliver the securities,
and is hereby authorized to take such actions to effect the loan as are required
by the Loan Agreement; provided, however, that the Adviser shall lend no more
than 33-1/3% of the Fund's total assets. For each Borrower, the Adviser shall
establish a maximum limit on the amount of securities that will be delivered to
each Borrower in connection with loans of the Lender's securities (the "Borrower
Limit"). The Subcustodian shall not deliver Lender's securities to a Borrower
when the value of the loan when added to all outstanding loans with the Borrower
exceeds the Borrower Limit."
"Section 8. COLLATERAL.
(a) In connection with loans of securities made on behalf of the Lender
that are secured by Collateral other than letters of credit, the Adviser agrees
to limit Collateral accepted and investments of Cash Collateral to those
securities in which the Fund of the Lender owning the loaned securities could
invest and, subject to this requirement, the Lender authorizes the Adviser: (i)
to accept Collateral of the types which are designated on EXHIBIT D with such
changes as recommended from time to time by the Adviser with the approval of the
Lender (the "Collateral"); and (ii) to invest cash received as collateral for a
loan of securities in any of the types of investments specified on EXHIBIT D as
modified from time to time. Where a loan of securities is to be collateralized
by a letter of credit, the Adviser shall instruct the Subcustodian to accept
only an irrevocable letter of credit that contains an immediate draw-down
capability from a financial institution listed on the Advisor's Bank Approved
List(s). The Lender hereby authorizes the Adviser to purchase or sell
investments of Cash Collateral to or from other accounts advised by the Adviser
or held by its affiliates."
[SIGNATURE PAGE FOLLOWS]
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IN WITNESS WHEREOF, this Second Amendment to the Securities Lending Agreement
is executed by Lender, the Adviser, and the Subcustodian.
THE ONE GROUP
By: /s/ XXXX X. XXXXXX
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Xxxx X. Xxxxxx, President
BANC ONE INVESTMENT ADVISORS CORPORATION
By: /s/ XXXX X. XXXXXX
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Xxxx X. Xxxxxx, Senior Managing Director
BANK ONE TRUST COMPANY, N.A.
By: /s/ XXXXXX X. XXXXXX
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Xxxxxx X. Xxxxxx, Officer
