Template:GMSLA 2010 Delivery: Difference between revisions
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'''{{gmslaprov|Deliver}}y''' in relation to any {{gmslaprov|Securities}} or {{gmslaprov|Collateral}} or {{gmslaprov|Equivalent Securities}} or {{gmslaprov|Equivalent Collateral}} comprising {{gmslaprov|Securities}} means: <br> | '''{{gmslaprov|Deliver}}y''' in relation to any {{gmslaprov|Securities}} or {{gmslaprov|Collateral}} or {{gmslaprov|Equivalent Securities}} or {{gmslaprov|Equivalent Collateral}} comprising {{gmslaprov|Securities}} means: <br> | ||
:(a) in the case of {{gmslaprov|Securities}} held by a {{gmslaprov|Nominee}} or within a clearing or settlement system, the crediting of such {{gmslaprov|Securities}} to an account of the {{gmslaprov|Borrower}} or {{gmslaprov|Lender}}, as the case may be, or as it shall direct, or, <br> | :(a) in the case of {{gmslaprov|Securities}} held by a {{gmslaprov|Nominee}} or within a clearing or settlement system, the crediting of such {{gmslaprov|Securities}} to an account of the {{gmslaprov|Borrower}} or {{gmslaprov|Lender}}, as the case may be, or as it shall direct, or, <br> | ||
:(b) in the case of {{gmslaprov|Securities}} otherwise held, the delivery to {{gmslaprov|Borrower}} or {{gmslaprov|Lender}}, as the case may be, or as the transferee shall direct of the relevant instruments of transfer, or <br> | :(b) in the case of {{gmslaprov|Securities}} otherwise held, the delivery to {{gmslaprov|Borrower}} or {{gmslaprov|Lender}}, as the case may be, or as the transferee shall direct of the relevant instruments of transfer, or <br> | ||
:(c) by such other means as may be agreed,<br> | :(c) by such other means as may be agreed,<br> | ||
and {{gmslaprov|deliver}} shall be construed accordingly; <br> | and {{gmslaprov|deliver}} shall be construed accordingly; <br> | ||
Latest revision as of 15:32, 2 May 2019
Delivery in relation to any Securities or Collateral or Equivalent Securities or Equivalent Collateral comprising Securities means:
- (a) in the case of Securities held by a Nominee or within a clearing or settlement system, the crediting of such Securities to an account of the Borrower or Lender, as the case may be, or as it shall direct, or,
- (b) in the case of Securities otherwise held, the delivery to Borrower or Lender, as the case may be, or as the transferee shall direct of the relevant instruments of transfer, or
- (c) by such other means as may be agreed,
and deliver shall be construed accordingly;