Redelivery of Equivalent Securities - OSLA Provision: Difference between revisions

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{{1995 OSLA Section 7 TOC}}
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====Commentary====
See Clause {{gmslaprov|8.3}} and {{gmslaprov|8.4}} of the {{tag|GMSLA}} by way of comparison, and also Clause {{gmslaprov|9}} which deals with the "mini-closeout” right upon a Party's {{gmslaprov|Failure to Deliver Equivalent Securities}} or {{gmslaprov|Failure to Deliver Equivalent Collateral}}.
 
Clause {{oslaprov|7(C)}} of the OSLA operates in much the same way as the "mini-closeout”, by permitting a Non-Defaulting Party to determine a value of each Loan as the difference between the value of the opposing legs of the trade.
 
====Related Provisions====
*{{gmsla}} Paragraphs {{gmslaprov|8}} and {{gmslaprov|9}}.
{{oslaanatomy}}

Latest revision as of 10:37, 28 November 2019

OSLA Anatomy™

7. Redelivery of Equivalent Securities

7(A) Borrower’s undertaking to redeliver Equivalent Securities
7(B) Lender’s right to call for redelivery of Equivalent Securities
7(C) Lender’s election where Borrower does not return Equivalent Securities
7(D) Borrower to pay reasonable costs of any Buy-in
7(E) Borrower’s right to terminate loans
7(F) Redelivery of Talisman certificates
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1995 OSLA: OSLA wikitext | OSLA in a nutshell | GMSLA/PGMSLA/OSLA clause comparison table
From Our Friends On The Internet: Guide to equity finance | ISLA’s guide to securities lending for regulators and policy makers

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