Other Provisions - GMSLA Provision: Difference between revisions
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{{gmslaanat|Schedule 13}} | {{gmslaanat|Schedule 13}} | ||
Depending on your own credit department’s yen for additional termination events that don’t really make a lot of sense in the context of an agreement covering short term and on-call transactions, you may see additional provisions: | |||
*Inserting a [[cross default]] - which is utterly absurd for fully-collateralised, daily-margined, short-tenor arrangements like stock loans, and will add a couple of extra pages of text you can then expect to fight over, covering [[Threshold Amount - ISDA Provision|thresholds]], [[Specified Indebtedness - ISDA Provision|specified indebtedness]], [[Grace period|grace periods]] and the like. | |||
*Provisions dealing with [[trade reporting]] to {{tag|Hong Kong}} revenue authorities for [[stamp duty]] | |||
*Enhanced US tax provisions ({{gmslaprov|12.2}} will get a workover); | |||
*[[Stay]] language (Swiss, US etc) | |||
Revision as of 14:22, 10 September 2018
Depending on your own credit department’s yen for additional termination events that don’t really make a lot of sense in the context of an agreement covering short term and on-call transactions, you may see additional provisions:
- Inserting a cross default - which is utterly absurd for fully-collateralised, daily-margined, short-tenor arrangements like stock loans, and will add a couple of extra pages of text you can then expect to fight over, covering thresholds, specified indebtedness, grace periods and the like.
- Provisions dealing with trade reporting to Hong Kong revenue authorities for stamp duty
- Enhanced US tax provisions (12.2 will get a workover);
- Stay language (Swiss, US etc)