Template:Pledge GMSLA 2018 8.4: Difference between revisions
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{{pgmslaprov|8.4}} '''{{pgmslaprov|Delivery of Equivalent Securities on termination of a Loan}}''' | {{pgmslaprov|8.4}} '''{{pgmslaprov|Delivery of Equivalent Securities on termination of a Loan}}''': Upon termination of a {{pgmslaprov|Loan}}, whether pursuant to any of paragraph {{pgmslaprov|8.1}} to {{pgmslaprov|8.3}} or otherwise in accordance with this Agreement and the terms of the relevant {{pgmslaprov|Loan}}, Borrower shall procure the {{pgmslaprov|Delivery}} of {{pgmslaprov|Equivalent}} {{pgmslaprov|Securities}} to {{pgmslaprov|Lender}} or deliver {{pgmslaprov|Equivalent}} {{pgmslaprov|Securities}}, such {{pgmslaprov|Delivery}} to be effected in accordance with this Agreement and the terms of the relevant {{pgmslaprov|Loan}}. [[For the avoidance of doubt]] any reference in this Agreement or in any other agreement or communication between the Parties (howsoever expressed) to an obligation to deliver or account for or act in relation to {{pgmslaprov|Loaned Securities}} shall accordingly be construed as a reference to an obligation to deliver or account for or act in relation to {{pgmslaprov|Equivalent}} {{pgmslaprov|Securities}}. <br> | ||
:Upon termination of a {{pgmslaprov|Loan}}, whether pursuant to any of paragraph {{pgmslaprov|8.1}} to {{pgmslaprov|8.3}} or otherwise in accordance with this Agreement and the terms of the relevant {{pgmslaprov|Loan}}, Borrower shall procure the {{pgmslaprov|Delivery}} of {{pgmslaprov|Equivalent}} {{pgmslaprov|Securities}} to {{pgmslaprov|Lender}} or deliver {{pgmslaprov|Equivalent}} {{pgmslaprov|Securities}}, such {{pgmslaprov|Delivery}} to be effected in accordance with this Agreement and the terms of the relevant {{pgmslaprov|Loan}}. [[For the avoidance of doubt]] any reference in this Agreement or in any other agreement or communication between the Parties (howsoever expressed) to an obligation to deliver or account for or act in relation to {{pgmslaprov|Loaned Securities}} shall accordingly be construed as a reference to an obligation to deliver or account for or act in relation to {{pgmslaprov|Equivalent}} {{pgmslaprov|Securities}}. <br> | |||
Latest revision as of 14:50, 7 July 2020
8.4 Delivery of Equivalent Securities on termination of a Loan: Upon termination of a Loan, whether pursuant to any of paragraph 8.1 to 8.3 or otherwise in accordance with this Agreement and the terms of the relevant Loan, Borrower shall procure the Delivery of Equivalent Securities to Lender or deliver Equivalent Securities, such Delivery to be effected in accordance with this Agreement and the terms of the relevant Loan. For the avoidance of doubt any reference in this Agreement or in any other agreement or communication between the Parties (howsoever expressed) to an obligation to deliver or account for or act in relation to Loaned Securities shall accordingly be construed as a reference to an obligation to deliver or account for or act in relation to Equivalent Securities.