Default by the Borrower. Where the Borrower fails to make up the deficiency in the collaterals according to the agreement in a timely fashion, or fails to return the securities on the due date or according to agreement, or fails to pay for the lending charges, or is in violation of the representations or warranties, it shall be deemed to be in default. In the event of default by the Borrower, the related securities lending and borrowing shall be deemed to be due, and the Lender may complete the negotiated borrowing transaction by ______________ (the agreed manner), recover the deficiency in payment from the Borrower, collect a default penalty equivalent to _______, and at the same time claim for damages.
Appears in 2 contracts
Sources: Contract of Negotiated Securities Borrowing Transaction, Contract of Negotiated Securities Borrowing Transaction