Common use of Partial Redemptions, Payments, Etc Clause in Contracts

Partial Redemptions, Payments, Etc. The Custodian shall promptly advise the Security Provider and the Secured Party upon its notification of a partial redemption, partial payment or other action with respect to Eligible Collateral affecting fewer than all such Eligible Collateral held within the GIC Collateral Custody Account. If the Custodian, or Depository holds any Eligible Collateral affected by one of the events described, the Custodian or Depository may select the Eligible Collateral to participate in such partial redemption, partial payment or other action in any non-discriminatory manner that it customarily uses to make such selection.