Template:GMSLA 2010 Agency Annex 1.1: Difference between revisions
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{{gmslaprov|Agency Annex 1.1}} '''{{gmslaprov|Power for Lender to enter into Loans as agent}}''' <br> | {{gmslaprov|Agency Annex 1.1}} '''{{gmslaprov|Power for Lender to enter into Loans as agent}}''' <br> | ||
Subject to the following provisions of this paragraph, {{gmslaprov|Lender}} may enter into {{gmslaprov|Loans}} as [[agent]] (in such capacity, the {{gmslaprov|Agent}}) for a third person (a {{gmslaprov|Principal}}), whether as [[custodian]] or [[investment manager]] or [[otherwise]] (a {{gmslaprov|Loan}} so entered into being referred to in this paragraph as an {{gmslaprov|Agency Loan}}). <br> | Subject to the following provisions of this paragraph, {{gmslaprov|Lender}} may enter into {{gmslaprov|Loans}} as [[agent]] (in such capacity, the '''{{gmslaprov|Agent}}''') for a third person (a '''{{gmslaprov|Principal}}'''), whether as [[custodian]] or [[investment manager]] or [[otherwise]] (a {{gmslaprov|Loan}} so entered into being referred to in this paragraph as an '''{{gmslaprov|Agency Loan}}'''). <br> | ||
If the {{gmslaprov|Lender}} has indicated in paragraph {{gmslaprov|Schedule 8}} of the {{gmslaprov|Schedule}} that it may act as {{gmslaprov|Agent}}, it must identify each {{gmslaprov|Loan}} in respect of which it acts as {{gmslaprov|Agent}} as an {{gmslaprov|Agency Loan}} at the time it is entered into. If the {{gmslaprov|Lender}} has indicated in paragraph {{gmslaprov|Schedule 8}} of the {{gmslaprov|Schedule}} that it will always act as {{gmslaprov|Agent}}, it need not identify each {{gmslaprov|Loan}} as an {{gmslaprov|Agency Loan}}. <br> | If the {{gmslaprov|Lender}} has indicated in paragraph {{gmslaprov|Schedule 8}} of the {{gmslaprov|Schedule}} that it may act as {{gmslaprov|Agent}}, it must identify each {{gmslaprov|Loan}} in respect of which it acts as {{gmslaprov|Agent}} as an {{gmslaprov|Agency Loan}} at the time it is entered into. If the {{gmslaprov|Lender}} has indicated in paragraph {{gmslaprov|Schedule 8}} of the {{gmslaprov|Schedule}} that it will always act as {{gmslaprov|Agent}}, it need not identify each {{gmslaprov|Loan}} as an {{gmslaprov|Agency Loan}}. <br> | ||
Latest revision as of 17:20, 4 March 2019
Agency Annex 1.1 Power for Lender to enter into Loans as agent
Subject to the following provisions of this paragraph, Lender may enter into Loans as agent (in such capacity, the Agent) for a third person (a Principal), whether as custodian or investment manager or otherwise (a Loan so entered into being referred to in this paragraph as an Agency Loan).
If the Lender has indicated in paragraph Schedule 8 of the Schedule that it may act as Agent, it must identify each Loan in respect of which it acts as Agent as an Agency Loan at the time it is entered into. If the Lender has indicated in paragraph Schedule 8 of the Schedule that it will always act as Agent, it need not identify each Loan as an Agency Loan.