Template:Nutshell GMSLA Interpretation (Agency Addendum): Difference between revisions
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{{gmslaprov|2}}. '''{{gmslaprov|Interpretation (Agency Addendum)}}''' <br> | {{gmslaprov|Addendum 2}}. '''{{gmslaprov|Interpretation (Agency Addendum)}}''' <br> | ||
2.1 In this addendum: | 2.1 In this addendum: | ||
:(a) '''{{gmslaprov|Collateral Transfer}}''' is defined in paragraph 5.1 below; <br> | :(a) '''{{gmslaprov|Collateral Transfer}}''' is defined in paragraph {{gmslaprov|Addendum 5.1}} below; <br> | ||
{{Nutshell GMSLA Net Loan Exposure}} | {{Nutshell GMSLA Net Loan Exposure}} | ||
:(c) '''{{gmslaprov|Pooled Principal}}''' is defined in paragraph 6(a) below; and | :(c) '''{{gmslaprov|Pooled Principal}}''' is defined in paragraph {{gmslaprov|Addendum 6(a)}} below; and | ||
:(d) '''{{gmslaprov|Pooled Loan}}''' is defined in paragraph 6(a) below. | :(d) '''{{gmslaprov|Pooled Loan}}''' is defined in paragraph {{gmslaprov|Addendum 6(a)}} below. | ||
Latest revision as of 18:13, 4 May 2022
Addendum 2. Interpretation (Agency Addendum)
2.1 In this addendum:
- (a) Collateral Transfer is defined in paragraph Addendum 5.1 below;
- (b) Net Loan Exposure:
- (i) If the aggregate Market Value of Posted Collateral between the Borrower and any one Principal exceeds the total Required Collateral Value for all Agency Loans between them, Borrower has a Net Loan Exposure to that Principal equal to that excess.
- (ii)If it is less than the Required Collateral Value, the Principal has a Net Loan Exposure to Borrower equal to the shortfall.
- (i) If the aggregate Market Value of Posted Collateral between the Borrower and any one Principal exceeds the total Required Collateral Value for all Agency Loans between them, Borrower has a Net Loan Exposure to that Principal equal to that excess.
- (c) Pooled Principal is defined in paragraph Addendum 6(a) below; and
- (d) Pooled Loan is defined in paragraph Addendum 6(a) below.