Template:GMSLA 2010 Interpretation (Agency Addendum): Difference between revisions
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Latest revision as of 12:53, 12 September 2017
2. Interpretation (Agency Addendum)
2.1 In this addendum:
- (a) Collateral Transfer has the meaning given in paragraph 5.1 below;
- (b) if at any time on any Business Day the aggregate Market Value of Posted Collateral in respect of all Agency Loans outstanding with a Principal under the Agreement exceeds the aggregate of the Required Collateral Value in respect of such Agency Loans, Borrower has a Net Loan Exposure to that Principal equal to that excess; if at any time on any Business Day the aggregate Market Value of Posted Collateral in respect of all Agency Loans outstanding under the Agreement with a Principal falls below the aggregate of the Required Collateral Value in respect of such Agency Loans, that Principal has a Net Loan Exposure to Borrower for such Agency Loans equal to that deficiency;
- (c) Pooled Principal has the meaning given in paragraph 6(a) below; and
- (d) Pooled Loan has the meaning given in paragraph 6(a) below.