Template:Nutshell 2000 GMSLA 5.5

5.5 Marking to Market of Collateral during the currency of a Loan on a Loan by Loan basis
Where the parties agree in 1.3 of the Schedule that they will mark Collateral to market Loan-by-Loan under this paragraph (and not on an aggregated basis under paragraph 5.4) the Posted Collateral for any Loan must always bear same proportion to the Market Value of the Loaned Securities as it did when the Loan started. Therefore:

(i) the Market Value of the required Posted Collateral during the Loan continues will equal the Required Collateral Value;

(ii) if on any Business Day the Market Value of any such Posted Collateral exceeds the Required Collateral Value for the same Loan, Lender must return to Borrower enough Equivalent Collateral eliminate the excess on demand; and

(iii} if on any Business Day the Market Value of the Posted Collateral falls below the Required Collateral Value, Borrower must provide further Collateral to Lender to eliminate the deficiency, on demand.