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Template:Nutshell GMSLA 7: Difference between revisions
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{{gmslaprov|7}}. '''{{gmslaprov|Rates applicable to Loaned Securities and Cash Collateral}}''' <br> | {{gmslaprov|7}}. '''{{gmslaprov|Rates applicable to Loaned Securities and Cash Collateral}}''' <br> | ||
{{ | {{gmslaprov|7.1}} '''{{gmslaprov|Rates in respect of Loaned Securities}}''': {{gmslaprov|Borrower}} must pay to {{gmslaprov|Lender}}, a sum determined by multiplying the agreed rate to the daily {{gmslaprov|Market Value}} of the {{gmslaprov|Loaned Securities}}.<br /> | ||
{{ | {{gmslaprov|7.2}}. '''{{gmslaprov|Rates in respect of Cash Collateral}}''': Where {{gmslaprov|Lender}} holds {{gmslaprov|Cash Collateral}} for any {{gmslaprov|Loan}}, it must pay to {{gmslaprov|Borrower}}, sum determined by multiplying the agreed rate to the amount of such {{gmslaprov|Cash Collateral}}. The parties may set off amounts due under paragraphs {{gmslaprov|7.1}} and {{gmslaprov|7.2}}.<br /> | ||
{{ | {{gmslaprov|7.3}} '''{{gmslaprov|Payment of rates}}''': Payment amounts due under this paragraph accrue daily from (and including) the {{gmslaprov|Settlement Date}} to (but excluding) of the {{gmslaprov|Business Day}} on which {{gmslaprov|Equivalent}} {{gmslaprov|Securities}} are delivered or {{gmslaprov|Cash Collateral}} is repaid. Accrued sums for each calendar month are payable in arrears by the tenth {{gmslaprov|Business Day}} after the end of that calendar month. <br /> | ||