Template:GMSLA 2000 5.4: Difference between revisions

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{{gmslaprov|5.4}} '''{{gmslaprov|Marking to Market of Collateral during the currency of a Loan on aggregated basis}}'''
{{gmsla2000prov|5.4}} '''{{gmsla2000prov|Marking to Market of Collateral during the currency of a Loan on aggregated basis}}'''
Unless paragraph {{gmslaprov|1.3}} of the Schedule indicates that paragraph {{gmslaprov|5.5}} shall apply in lieu of this paragraph {{gmslaprov|5.4}}, or unless otherwise agreed between the Parties:- <br>
Unless paragraph {{gmsla2000prov|1.3}} of the Schedule indicates that paragraph {{gmsla2000prov|5.5}} shall apply in lieu of this paragraph {{gmsla2000prov|5.4}}, or unless otherwise agreed between the Parties:- <br>
:(i) the aggregate {{gmslaprov|Market Value}} of the {{gmslaprov|Collateral}} delivered to or deposited with {{gmslaprov|Lender}} (excluding any {{gmslaprov|Equivalent Collateral}} repaid or redelivered under Paragraphs {{gmslaprov|5.4(ii)}} or {{gmslaprov|5.5(ii)}} (as the case may be)) (“'''{{gmslaprov|Posted Collateral}}'''”) in respect of all {{gmslaprov|Loan}}s outstanding under this {{gmslaprov|Agreement}} shall equal the aggregate of the {{gmslaprov|Market Value}} of the {{gmslaprov|Loaned Securities}} and the applicable {{gmslaprov|Margin}} (the “{{gmslaprov|Required Collateral Value}}”) in respect of such {{gmslaprov|Loan}}s; <br>
:(i) the aggregate {{gmsla2000prov|Market Value}} of the {{gmsla2000prov|Collateral}} delivered to or deposited with {{gmsla2000prov|Lender}} (excluding any {{gmsla2000prov|Equivalent Collateral}} repaid or redelivered under Paragraphs {{gmsla2000prov|5.4(ii)}} or {{gmsla2000prov|5.5(ii)}} (as the case may be)) (“'''{{gmsla2000prov|Posted Collateral}}'''”) in respect of all {{gmsla2000prov|Loan}}s outstanding under this {{gmsla2000prov|Agreement}} shall equal the aggregate of the {{gmsla2000prov|Market Value}} of the {{gmsla2000prov|Loaned Securities}} and the applicable {{gmsla2000prov|Margin}} (the “'''{{gmsla2000prov|Required Collateral Value}}'''”) in respect of such {{gmsla2000prov|Loan}}s; <br>
:(ii) if at any time on any {{gmslaprov|Business Day}} the aggregate {{gmslaprov|Market Value}} of the {{gmslaprov|Posted Collateral}} in respect of all {{gmslaprov|Loan}}s outstanding under this {{gmslaprov|Agreement}} exceeds the aggregate of the {{gmslaprov|Required Collateral Value}}s in respect of such {{gmslaprov|Loan}}s, {{gmslaprov|Lender}} shall (on demand) repay [[and/or]] redeliver. as the case may be, to {{gmslaprov|Borrower}} such {{gmslaprov|Equivalent}} {{gmslaprov|Collateral}} as will eliminate the excess; <br>
:(ii) if at any time on any {{gmsla2000prov|Business Day}} the aggregate {{gmsla2000prov|Market Value}} of the {{gmsla2000prov|Posted Collateral}} in respect of all {{gmsla2000prov|Loan}}s outstanding under this {{gmsla2000prov|Agreement}} exceeds the aggregate of the {{gmsla2000prov|Required Collateral Value}}s in respect of such {{gmsla2000prov|Loan}}s, {{gmsla2000prov|Lender}} shall (on demand) repay [[and/or]] redeliver. as the case may be, to {{gmsla2000prov|Borrower}} such {{gmsla2000prov|Equivalent}} {{gmsla2000prov|Collateral}} as will eliminate the excess; <br>
:(iii) if at any time on any {{gmslaprov|Business Day}} the aggregate {{gmslaprov|Market Value}} of the {{gmslaprov|Posted Collateral}} in respect of all {{gmslaprov|Loan}}s outstanding under this {{gmslaprov|Agreement}} falls below the aggregate of {{gmslaprov|Required Collateral Value}}s in respect of all such {{gmslaprov|Loan}}s, {{gmslaprov|Borrower}} shall (on demand) provide such further {{gmslaprov|Collateral}} to {{gmslaprov|Lender}} as will eliminate the deficiency.<br>
:(iii) if at any time on any {{gmsla2000prov|Business Day}} the aggregate {{gmsla2000prov|Market Value}} of the {{gmsla2000prov|Posted Collateral}} in respect of all {{gmsla2000prov|Loan}}s outstanding under this {{gmsla2000prov|Agreement}} falls below the aggregate of {{gmsla2000prov|Required Collateral Value}}s in respect of all such {{gmsla2000prov|Loan}}s, {{gmsla2000prov|Borrower}} shall (on demand) provide such further {{gmsla2000prov|Collateral}} to {{gmsla2000prov|Lender}} as will eliminate the deficiency.<br>

Latest revision as of 13:12, 10 March 2022

5.4 Marking to Market of Collateral during the currency of a Loan on aggregated basis Unless paragraph 1.3 of the Schedule indicates that paragraph 5.5 shall apply in lieu of this paragraph 5.4, or unless otherwise agreed between the Parties:-

(i) the aggregate Market Value of the Collateral delivered to or deposited with Lender (excluding any Equivalent Collateral repaid or redelivered under Paragraphs 5.4(ii) or 5.5(ii) (as the case may be)) (“Posted Collateral”) in respect of all Loans outstanding under this Agreement shall equal the aggregate of the Market Value of the Loaned Securities and the applicable Margin (the “Required Collateral Value”) in respect of such Loans;
(ii) if at any time on any Business Day the aggregate Market Value of the Posted Collateral in respect of all Loans outstanding under this Agreement exceeds the aggregate of the Required Collateral Values in respect of such Loans, Lender shall (on demand) repay and/or redeliver. as the case may be, to Borrower such Equivalent Collateral as will eliminate the excess;
(iii) if at any time on any Business Day the aggregate Market Value of the Posted Collateral in respect of all Loans outstanding under this Agreement falls below the aggregate of Required Collateral Values in respect of all such Loans, Borrower shall (on demand) provide such further Collateral to Lender as will eliminate the deficiency.
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