Securities Lending Agent Agreement

Conflicts of interest: The lender grants the bank the power it sets, regardless of its awareness that the bank, in its individual or trust capacity, may transact with the same institutions that the lender may lend securities from time to time, which may result in actual or potential conflicts of interest. The Bank is not required to account to the Lender for any amount received or profit on own account of another person, or (ii) to disclose information or refuse to disclose it or take other action if, at the Bank`s discretion, this should or could be done in good faith, constitute a violation of the law or regulations or be liable to any other action with respect to the bank; provided that, in the circumstances referred to in point (ii), the Bank immediately informs the lender of the relevant facts (unless this is or can be done in its best faith, constitutes a breach of a law or rule or is liable to another action). None of the foregoing is under any obligation for the bank to act in good faith with the lender. CONSIDERING that each lender wishes to appoint the agent and that the agent is prepared to accept such a date to lend certain securities of the lender under the conditions set out in this Agency Agreement. At the end of a cashless guarantee agreement, the lender and its lender return the guarantees in exchange for the guarantee and receive a pre-negotiated loan fee for the guarantees issued. However, in a cash guarantee agreement, the lender returns the guarantees (in exchange for the guarantee) and grants a discount to the borrower. The discount is an agreed interest rate for holding collateral and is reduced by a “demand gap”, depending on the supply/demand characteristics of the borrowed security. The dispersion of demand is often higher than the interest rates due on the guarantees, resulting in a negative discount rate. b. The lender also expressly authorizes the agent to provide borrowers with information about the lender when those borrowers need to request or obtain it in accordance with applicable law, or when deemed necessary in connection with the completion or maintenance of loans; (ii) to disclose to third parties information on the securities contained in the designated accounts (on an anonymous basis or by any other agreement of the creditor) in order to estimate the possible costs to be paid by borrowers in this regard; and (iii) to communicate such information to its representatives and associated enterprises, to the extent necessary or necessary, in connection with the conclusion of loans under this Agreement.