Template:Nutshell GMRA BSA 3: Difference between revisions

(a) The parties will identify whether a {{gmraprov|Transaction}} is a {{gmraprov|Repurchase Transaction}} or a {{gmraprov|Buy/Sell Back Transaction}} at the time of trading it, and will specify that in the {{gmraprov|Confirmation}}. <br>

(b) The {{gmraprov|Confirmation}} for a {{gmraprov|Buy/Sell Back Transaction}} may be a single document covering both transactions of the {{gmraprov|Buy/Sell Back Transaction}}, or separate {{gmraprov|Confirmation}}s for each transaction. The {{gmraprov|Confirmation}}s may be in the form of {{gmraprov|Annex Il}} (except item 10, because the transaction will not be terminable on demand). <br>

(c) In a {{gmraprov|Buy/Sell Back Transaction}} the parties must also agree and record in a {{gmraprov|Confirmation}} the {{gmraprov|Sell Back Price}} and the {{gmraprov|Pricing Rate}} that will apply on the {{gmraprov|Repurchase Date}}.<br>

(d) {{gmraprov|Buy/Sell Back Transaction}}s may not be terminated on demand. <br>

(e) The {{gmraprov|Purchase Price}} and the {{gmraprov|Sell Back Price}} in a {{gmraprov|Buy/Sell Back Transaction}} will both be quoted exclusive of {{gmraprov|Accrued Interest}}. <br>

(f) For the purposes of paragraph {{gmraprov|3(c)}} of the {{gmraprov|Agreement}}, for a {{gmraprov|Buy/Sell Back Transaction}}, the Seller will transfer {{gmraprov|Purchased Securities}} to {{gmraprov|Buyer}} against the payment of the {{gmraprov|Purchase Price}} plus {{gmraprov|Accrued Interest}} [on] the {{gmraprov|Purchase Price}} on such {{gmraprov|Purchased Securities}}. <br>

(g) Paragraph {{gmraprov|3(f)}} of the {{gmraprov|Agreement}} will not apply to a {{gmraprov|Buy/Sell Back Transaction}}. The {{gmraprov|Transaction}} will terminate on the {{gmraprov|Repurchase Date}} by transfer to {{gmraprov|Seller}} of {{gmraprov|Equivalent Securities}} against the payment by {{gmraprov|Seller}} of  

:(i) where the {{gmraprov|Repurchase Date}} is the originally scheduled date, the {{gmraprov|Sell Back Price}} referred to in paragraph [[BSA 2 - GMRA Provision|2(iii)(x)]] of this Annex plus {{gmraprov|Accrued Interest}} to the {{gmslaprov|Repurchase Date}}; and