Examples of Equivalent Securities in a sentence
Borrower may terminate a Loan at any time and deliver Equivalent Securities or an amount equal to the Market Value (as defined below) of Equivalent Securities to Lender.
Where any voting rights fall to be exercised in relation to any Loaned Securities or Collateral, neither Borrower, in the case of Equivalent Securities, nor Lender, in the case of Equivalent Collateral, shall have any obligation to arrange for voting rights of that kind to be exercised in accordance with the instructions of the other party in relation to the Securities borrowed by it or transferred to it by way of Collateral, as the case may be, unless otherwise agreed between the parties.
The Default Market Value of the Equivalent Securities and Equivalent Non-Cash Collateral to be delivered and the amount of any Cash Collateral (including sums accrued) to be repaid and any other cash (including interest accrued) to be paid by each party are required to be established by the Non-Defaulting Party and deemed as at the Termination Date.
The Securities Lending Agreement sets out a detailed methodology for determining the market value of Equivalent Securities and Equivalent Non-Cash Collateral following the occurrence of an Event of Default (the “Default Market Value”).
Where the Client is required to deliver securities equivalent to Hong Kong Settlement Securities, it shall effect that delivery by delivering Equivalent Securities (as defined in the OSLA) in accordance with the OSLA and such delivery shall constitute performance of its obligations under this paragraph.