Template:GMSLA 2010 6.2: Difference between revisions
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{{gmslaprov|6.2}} '''{{gmslaprov|Manufactured payments in respect of Loaned Securities}}''' <br> | {{gmslaprov|6.2}} '''{{gmslaprov|Manufactured payments in respect of Loaned Securities}}''' <br> | ||
Where the term of a {{gmslaprov|Loan}} extends over an {{gmslaprov|Income Record Date}} in respect of any {{gmslaprov|Loaned Securities}}, {{gmslaprov|Borrower}} shall, on the date such {{gmslaprov|Income}} is paid by the issuer, or on such other date as the {{gmslaprov|Parties}} may from time to time agree, pay or deliver to {{gmslaprov|Lender}} such sum of money or property as is agreed between the {{gmslaprov|Parties}} or, failing such agreement, a sum of money or property equivalent to (and in the same currency as) the type and amount of such {{gmslaprov|Income}} that would be received by {{gmslaprov|Lender}} in respect of such {{gmslaprov|Loaned Securities}} assuming such {{gmslaprov|Securities}} were not loaned to Borrower and were retained by {{gmslaprov|Lender}} on the {{gmslaprov|Income Record Date}}. <br> | |||
Latest revision as of 16:40, 5 October 2017
6.2 Manufactured payments in respect of Loaned Securities
Where the term of a Loan extends over an Income Record Date in respect of any Loaned Securities, Borrower shall, on the date such Income is paid by the issuer, or on such other date as the Parties may from time to time agree, pay or deliver to Lender such sum of money or property as is agreed between the Parties or, failing such agreement, a sum of money or property equivalent to (and in the same currency as) the type and amount of such Income that would be received by Lender in respect of such Loaned Securities assuming such Securities were not loaned to Borrower and were retained by Lender on the Income Record Date.