Template:M comp disc GMSLA 8: Difference between revisions
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{{gmslaprov|8.5}} {{gmslaprov|Delivery of Letters of Credit}} <br> | {{gmslaprov|8.5}} {{gmslaprov|Delivery of Letters of Credit}} <br> | ||
{{gmslaprov|8.6}} {{gmslaprov|Delivery obligations to be reciprocal}} <br> | {{gmslaprov|8.6}} {{gmslaprov|Delivery obligations to be reciprocal}} <br> | ||
===Differences=== | |||
{{Gmsla 8 comp|gmslaprov}} | |||
Latest revision as of 08:43, 8 July 2020
8. Delivery of Equivalent Securities
8.1 Lender’s right to terminate a Loan
8.2 Borrower’s right to terminate a Loan
8.3 Delivery of Equivalent Securities on termination of a Loan
8.4 Delivery of Equivalent Collateral on termination of a Loan
8.5 Delivery of Letters of Credit
8.6 Delivery obligations to be reciprocal
Differences
Observers will note: in the 2018 Pledge GMSLA there is no equivalent of the 2010 GMSLA’s Paragraph 8.5 dealing with what to do with Letters of Credit, and no equivalent of the 2010 GMSLA’s Paragraph 8.6 requiring the delivery obligations to be reciprocal.
Instead, we assume to bulk out a paragraph which otherwise seems a bit textually anaemic, when drafting paragraph 8 of the 2018 Pledge GMSLA ISLA’s crack drafting squad™ went to town adding a couple of new paragraphs — 8.3 and 8.4 — that boast quite some textual complexity, twice purporting to avoid some doubt which, had these paragraphs not been added, wouldn’t be there — but boast a lot less forensic interest.