Insufficient Collateral. In respect of loans of securities entered into on behalf of a Fund, NFS will value on a daily basis in accordance with the applicable SLA, the loaned securities and all Collateral and, where applicable, NFS shall, in accordance with the provisions of the applicable SLA, request the Approved Borrower to deliver sufficient additional Collateral to the Trust by the next business day to satisfy the applicable margin requirement.
Appears in 3 contracts
Sources: Securities Lending Agency Agreement (Fidelity Rutland Square Trust II), Securities Lending Agency Agreement (Fidelity Cherry Street Trust), Securities Lending Agency Agreement (Fidelity Devonshire Trust)