Template:Nutshell 2000 GMSLA 5.4

5.4 Marking to Market of Collateral during the currency of a Loan on aggregated basis Where the parties agree in 1.3 of the Schedule that they will mark Collateral to market on an aggregated basis under this paragraph (and not Loan-by-Loan under paragraph 5.5), unless they agree otherwise:-

(i) the aggregate Market Value of the Collateral provided to Lender (excluding any Equivalent Collateral returned under Paragraphs 5.4) or 5.5) (“Posted Collateral”) for all outstanding Loans will equal the aggregate Market Value of the Loaned Securities and the applicable Margin (the “Required Collateral Value”) for those Loans;

(ii) if on any Business Day the aggregate Market Value of Posted Collateral for all outstanding Loans exceeds the aggregate of the Required Collateral Values for those Loans, Lender must (on demand) return to Borrower such Equivalent Collateral as will eliminate the excess;

(iii) if on any Business Day the aggregate Market Value of Posted Collateral for all outstanding Loans falls below the aggregate of Required Collateral Values for all such Loans, Borrower must (on demand) provide to Lender enough further Collateral to eliminate the deficiency.