Template:Nutshell GMSLA 8.5: Difference between revisions
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Revision as of 14:45, 1 June 2020
8.5 Delivery of Letters of Credit
Where Collateral takes the form of a Letter of Credit, the Lender can satisfy its obligation to redeliver Equivalent Collateral by delivering the Letter of Credit for cancellation, or consenting to a reduction in the value of the Letter of Credit.