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Template:GMRA 2000 3: Difference between revisions
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Amwelladmin (talk | contribs) (Created page with "'''{{gmraprov|3}}. {{gmraprov|Initiation; Confirmation; Termination}}'''<br> :{{gmraprov|3(a)}} A {{gmraprov|Transaction}} may be entered into orally or in writing at t...") |
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:{{gmraprov|3(a)}} A {{gmraprov|Transaction}} may be entered into orally or in writing at the initiation of either {{gmraprov|Buyer}} or {{gmraprov|Seller}}.<br> | :{{gmraprov|3(a)}} A {{gmraprov|Transaction}} may be entered into orally or in writing at the initiation of either {{gmraprov|Buyer}} or {{gmraprov|Seller}}.<br> | ||
:{{gmraprov|3(b)}} Upon agreeing to enter into a {{gmraprov|Transaction}} hereunder {{gmraprov|Buyer}} or {{gmraprov|Seller}} (or both), as shall have been agreed, shall promptly deliver to the other party written {{gmraprov|Confirmation}} of such {{gmraprov|Transaction}} (a “'''{{gmraprov|Confirmation}}'''”).<br> | :{{gmraprov|3(b)}} Upon agreeing to enter into a {{gmraprov|Transaction}} hereunder {{gmraprov|Buyer}} or {{gmraprov|Seller}} (or both), as shall have been agreed, shall promptly deliver to the other party written {{gmraprov|Confirmation}} of such {{gmraprov|Transaction}} (a “'''{{gmraprov|Confirmation}}'''”).<br> | ||
The {{gmraprov|Confirmation}} shall describe the {{gmraprov|Purchased Securities}} (including CUSIP or ISIN or other identifying number or numbers, if any), identify {{gmraprov|Buyer}} and {{gmraprov|Seller}} and set forth | :The {{gmraprov|Confirmation}} shall describe the {{gmraprov|Purchased Securities}} (including [[CUSIP]] or [[ISIN]] or other identifying number or numbers, if any), identify {{gmraprov|Buyer}} and {{gmraprov|Seller}} and set forth | ||
::(i) the {{gmraprov|Purchase Date}}; <br> | ::(i) the {{gmraprov|Purchase Date}}; <br> | ||
::(ii) the {{gmraprov|Purchase Price}}; <br> | ::(ii) the {{gmraprov|Purchase Price}}; <br> | ||
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::(vii) where the {{gmraprov|Agency Annex}} applies, whether the {{gmraprov|Transaction}} is an {{gmraprov|Agency Transaction}} and, if so, the identity of the party which is acting as agent and the name, code or identifier of the Principal; and | ::(vii) where the {{gmraprov|Agency Annex}} applies, whether the {{gmraprov|Transaction}} is an {{gmraprov|Agency Transaction}} and, if so, the identity of the party which is acting as agent and the name, code or identifier of the Principal; and | ||
::(viii) any additional terms or conditions of the {{gmraprov|Transaction}}; <br> | ::(viii) any additional terms or conditions of the {{gmraprov|Transaction}}; <br> | ||
and may be in the form of Annex | :and may be in the form of {{gmraprov|Annex II}} hereto or may be in any other form to which the parties agree. The {{gmraprov|Confirmation}} relating to a {{gmraprov|Transaction}} shall, together with this {{gmraprov|Agreement}}, constitute prima facie evidence of the terms agreed between {{gmraprov|Buyer}} and {{gmraprov|Seller}} for that {{gmraprov|Transaction}}, unless objection is made with respect to the {{gmraprov|Confirmation}} promptly after receipt thereof. In the event of any conflict between the terms of such {{gmraprov|Confirmation}} and this {{gmraprov|Agreement}}, the {{gmraprov|Confirmation}} shall prevail in respect of that {{gmraprov|Transaction}} and those terms only.<br> | ||
:{{gmraprov|3(c)}} On the {{gmraprov|Purchase Date}} for a {{gmraprov|Transaction}}, {{gmraprov|Seller}} shall transfer the {{gmraprov|Purchased Securities}} to {{gmraprov|Buyer}} or its agent against the payment of the {{gmraprov|Purchase Price}} by {{gmraprov|Buyer}}.<br> | :{{gmraprov|3(c)}} On the {{gmraprov|Purchase Date}} for a {{gmraprov|Transaction}}, {{gmraprov|Seller}} shall transfer the {{gmraprov|Purchased Securities}} to {{gmraprov|Buyer}} or its agent against the payment of the {{gmraprov|Purchase Price}} by {{gmraprov|Buyer}}.<br> | ||
:{{gmraprov|3(d)}} {{gmraprov|Termination}} of a {{gmraprov|Transaction}} will be effected, in the case of on demand {{gmraprov|Transaction}}s, on the date specified for {{gmraprov|Termination}} in such demand, and, in the case of fixed term {{gmraprov|Transaction}}s, on the date fixed for {{gmraprov|Termination}}.<br> | :{{gmraprov|3(d)}} {{gmraprov|Termination}} of a {{gmraprov|Transaction}} will be effected, in the case of on demand {{gmraprov|Transaction}}s, on the date specified for {{gmraprov|Termination}} in such demand, and, in the case of fixed term {{gmraprov|Transaction}}s, on the date fixed for {{gmraprov|Termination}}.<br> | ||
:{{gmraprov|3(e)}} In the case of on demand {{gmraprov|Transaction}}s, demand for {{gmraprov|Termination}} shall be made by {{gmraprov|Buyer}} or {{gmraprov|Seller}}, by telephone or otherwise, and shall provide for {{gmraprov|Termination}} to occur after not less than the minimum period as is customarily required for the settlement or delivery of money or {{gmraprov|Equivalent Securities}} of the relevant kind.<br> | :{{gmraprov|3(e)}} In the case of on demand {{gmraprov|Transaction}}s, demand for {{gmraprov|Termination}} shall be made by {{gmraprov|Buyer}} or {{gmraprov|Seller}}, by telephone or otherwise, and shall provide for {{gmraprov|Termination}} to occur after not less than the minimum period as is customarily required for the settlement or delivery of money or {{gmraprov|Equivalent Securities}} of the relevant kind.<br> | ||
:{{gmraprov|3(f)}} On the {{gmraprov|Repurchase Date}}, {{gmraprov|Buyer}} shall transfer to {{gmraprov|Seller}} or its agent {{gmraprov|Equivalent Securities}} against the payment of the {{gmraprov|Repurchase Price}} by {{gmraprov|Seller}} (less any amount then payable and unpaid by {{gmraprov|Buyer}} to {{gmraprov|Seller}} pursuant to paragraph {{gmraprov|5}}).<br> | :{{gmraprov|3(f)}} On the {{gmraprov|Repurchase Date}}, {{gmraprov|Buyer}} shall transfer to {{gmraprov|Seller}} or its agent {{gmraprov|Equivalent Securities}} against the payment of the {{gmraprov|Repurchase Price}} by {{gmraprov|Seller}} (less any amount then payable and unpaid by {{gmraprov|Buyer}} to {{gmraprov|Seller}} pursuant to paragraph {{gmraprov|5}}).<br> | ||