Execution copy lime, then the relevant Transfer will be made not later than the close of business on the second Local Business Day thereafter; if a demand is made after the Notification Time then the relevant Transfer will be made not later than the close of business on the third Local Business Day thereafter,. (b) Paragraph 5(dX1) shall be amended so that the reference therein to, the following Local Business Day, shall be replaced by reference to . the second Local Business Day thereafter,. (iii) Events of Default Paragraph 7 shall be amended so that the references in Paragraph 70, Paragraph 7(i) and Paragraph 7(iii) to two Local Business Days„ . five Local Business Days, and . thirty days, respectively, shall instead be replaced by. one Local Business Day.,, three Local Business Days. and . ten Local Business Days, respectively. (iv) Return of Fungible Securities In lieu of returning to the Pledger pursuant to Paragraphs 3(b), 4(d), 5 and 8(d) any Posted Collateral comprising securities the Secured Party may return Equivalent Collateral. (v) Covenants of the Pledgor So long as the Agreement is in effect, the Pledger covenants that it will keep the Posted Collateral free from all security interests or other encumbrances created by the Pledgor, except the security interest created hereunder and any security interests or other encumbrances created by the Secured Party; and wOl not sell, transfer, assign, deliver or otherwise dispose of, or grant any option with respect to any Posted Collateral or any interest therein, or create, incur or permit to exist any pledge, fen, mortgage, hypothecation, security interest, charge, option or any other encumbrance with respect to any Posted Collateral or any interest therein, without the prior written consent of the Secured Party. (vI) Costs of Transfer on Substitution Notwithstanding Paragraph 10(a), the Pledgor will be responsble for, and will reimburse the Secured Party for, all transfer and o