Income - GMSLA Provision

GMSLA Anatomy™ →Go uptown In a Nutshell™ Clause Income: Income means interest, dividends and similar distributions made under any Securities or Collateral; view template 2010 GMSLA full text of Clause Income: Income means any interest, dividends or other distributions of any kind whatsoever with respect to any Securities or Collateral; view template 2010 GMSLA: Full wikitext · Nutshell wikitext | GMLSA legal code | GMSLA Netting Pledge GMSLA: Hard copy (ISLA) · Full wikitext · Nutshell wikitext | 1995 OSLA: OSLA wikitext | OSLA in a nutshell | GMSLA/PGMSLA/OSLA clause comparison table From Our Friends On The Internet: Guide to equity finance | ISLA’s guide to securities lending for regulators and policy makers Navigation 2010 GMSLA 1 · 2 · 3 · 4 · 5 · 6 · 7 · 8 · 9 · 10 · 11 · 12 · 13 · 14 · 15 · 16 · 17 · 18 · 19 · 20 · 21 · 22 · 23 · 24 · 25 · 26 · 27 · Schedule · Agency Annex · Addendum for Pooled Principal Agency Loans 2018 Pledge GMSLA 1 · 2 · 3 · 4 · 5 · 6 · 7 · 8 · 9 · 10 · 11 · 12 · 13 · 14 · 15 · 16 · 17 · 18 · 19 · 20 · 21 · 22 · 23 · 24 · 25 · 26 · 27 · 28 · Schedule · Agency Annex Stock lending agreement comparison: Includes navigation for the 2000 GMSLA and the 1995 OSLA Index: Click ᐅ to expand: GMSLA Pledge GMSLA OSLA Tell me more Sign up for our newsletter — or just get in touch: for ½ a weekly 🍺 you get to consult JC. Ask about it here.

So the question is how this dovetails into the manufactured income provisions where the Income in question is in some way contingent on a corporate action, vote, or shareholding status.

For if you lent the security to me — title transfer — and I sold it short (as one does under a stock lending arrangement) and then a corporate action arose which entitled each shareholder who makes a certain election to receive a certain distribution, must I manufacture that distribution to you, even if I didn't make that election or, for that matter, even hold the share to be able to make that election?

As to this, see Para 6.7