Template:Nutshell GMRA 4(j): Difference between revisions
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Amwelladmin (talk | contribs) (Created page with "{{gmraprov|4(j)}} Where the parties agree to reprice a {{gmraprov|Transaction}} (the “'''{{gmraprov|Original Transaction}}'''”): :(i) the {{gmraprov|Repurchase Date}} un...") |
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{{gmraprov|4(j)}} Where the parties agree to reprice a {{gmraprov|Transaction}} (the “'''{{gmraprov|Original Transaction}}'''”): | {{gmraprov|4(j)}} '''Repricing''': Where the parties agree to reprice a {{gmraprov|Transaction}} (the “'''{{gmraprov|Original Transaction}}'''”): | ||
:(i) the {{gmraprov|Repurchase Date}} under the {{gmraprov|Original Transaction}} will be adjusted to the repricing date (the “'''{{gmslaprov|Repricing Date}}'''”); <br> | :(i) the {{gmraprov|Repurchase Date}} under the {{gmraprov|Original Transaction}} will be adjusted to the repricing date (the “'''{{gmslaprov|Repricing Date}}'''”); <br> | ||
:(ii) the parties will strike a new {{gmraprov|Transaction}} (the “'''{{gmraprov|Repriced Transaction}}'''”) as set out below; <br> | :(ii) the parties will strike a new {{gmraprov|Transaction}} (the “'''{{gmraprov|Repriced Transaction}}'''”) as set out below; <br> | ||
Latest revision as of 17:25, 29 June 2020
4(j) Repricing: Where the parties agree to reprice a Transaction (the “Original Transaction”):
- (i) the Repurchase Date under the Original Transaction will be adjusted to the repricing date (the “Repricing Date”);
- (ii) the parties will strike a new Transaction (the “Repriced Transaction”) as set out below;
- (iii) the Purchased Securities will be equivalent to those under the Original Transaction;
- (iv) the Purchase Date will be the Repricing Date;
- (v) the Purchase Price will be the amount which, when multiplied by the Margin Ratio for the Original Transaction, would equal the Market Value of such Securities on the Repricing Date;
- (vi) all other terms of the Repriced Transaction will be identical to the Original Transaction;
- (vii) the parties’ respective delivery and obligations on commencement of the Repriced Transaction will be set off against their respective obligations on termination of the Original Transaction and a net cash sum shall be paid by one party to the other within the period set out in paragraph 4(g).