OSLA nutshell wikitext

Template:Nutshell OSLA 1 2. Loans of Securities
2(A) The Lender may lend Securities to the Borrower under this Agreement and the Rules, by accepting a Borrowing Request.
2(B) The Borrower may reduce the amount of Securities subject to a Borrowing Request by giving the Lender notice by midday in London two Business Days before the Settlement Date, if the Lender accepts the reduction.
Template:Nutshell OSLA 3 Template:Nutshell OSLA 4 Template:Nutshell OSLA 5 Template:Nutshell OSLA 6 Template:Nutshell OSLA 7 Template:Nutshell OSLA 8 Template:Nutshell OSLA 9 Template:Nutshell OSLA 10 Template:Nutshell OSLA 11 12. Events of Default
The following events occurring to a Party (Defaulting Party) will be Events of Default under Clause 8 upon the other Party (Non-Defaulting Party) serving written notice on it:

12(A) Failure to pay: It fails to pay Cash Collateral or deliver Collateral or Equivalent Collateral when due;

12(B) Failure to provide Collateral: It breaches its obligations under Clause 6;

12(C) Failure to manufacture Income: As Borrower it breaches Clause 4(B)(i), (ii) or (iii);

12(D) Bankruptcy: It suffers an Act of Insolvency (provided that where the Act of Insolvency is the presentation of a winding-up petition or appointment of a liquidator, written notice from the Non-Defaulting Party is not required);

12(E) Breach of representations and warranties: the representations or warranties of either Party are materially false when made or repeated, ;

12(F) Repudiation: admits to the other that it is cannot or will not perform any of its obligations under the Agreement;

12(G) Regulatory default: It is declared in default by the appropriate authority under the Rules or is suspended or expelled from any securities exchange or other self-regulatory organisation, or is suspended from securities dealing by any government agency;

12(H) Seizure of assets: its own asset those it holds for investors held are ordered to be transferred to a trustee by a regulatory authority under securities regulation legislation, or

12(I) Other breach of Agreement: the Lender or the Borrower fails to perform any other obligations under this Agreement and does not remedy its failure within 30 days after the Non-Defaulting Party serves notice requiring it to remedy such failure on it.

Each Party must notify the other if it suffers an Event of Default.
Template:Nutshell OSLA 13 Template:Nutshell OSLA 14 15. Termination by notice
Each Party may terminate this Agreement on 15 Business Days’ written notice as long as all outstanding loans have been terminated under this Agreement and the Rules.
Template:Nutshell OSLA 16 Template:Nutshell OSLA 17 Template:Nutshell OSLA 18 Template:Nutshell OSLA 19 Template:Nutshell OSLA 20 Template:Nutshell OSLA 21 Template:Nutshell OSLA 22 Template:Nutshell OSLA 23 Template:Nutshell OSLA 24 Template:Nutshell OSLA 25 Template:Nutshell OSLA 26 Template:Nutshell OSLA 27 Template:Nutshell OSLA Schedule Template:Nutshell OSLA Agency Annex Template:Nutshell OSLA Addendum for Pooled Principal Agency