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Template:Nutshell Pledge GMSLA 3: Difference between revisions
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{{pgmslaprov|3}} '''{{pgmslaprov| Loans of Securities}}'''<br> | {{pgmslaprov|3}} '''{{pgmslaprov| Loans of Securities}}'''<br> | ||
{{pgmslaprov|3.1}} '''{{pgmslaprov|Loans}}''': | {{pgmslaprov|3.1}} '''{{pgmslaprov|Loans}}''': Subject to the {{pgmslaprov|Conditions Precedent}} below, {{gmslaprov|Lender}} will lend and {{gmslaprov|Borrower}} will borrow {{gmslaprov|Securities}} under this {{gmslaprov|Agreement}}. The parties will agree the terms of {{gmslaprov|Loan}}s in advance and will confirm them afterwards, though the confirmations will not override the originally agreed terms without further agreement. <br> | ||
{{pgmslaprov|3.2}} '''{{pgmslaprov|Conditions Precedent}}''': The {{pgmslaprov|Lender}}’s obligations to lend and deliver Securities under a {{pgmslaprov|Loan}} are conditional on: | {{pgmslaprov|3.2}} '''{{pgmslaprov|Conditions Precedent}}''': The {{pgmslaprov|Lender}}’s obligations to lend and deliver Securities under a {{pgmslaprov|Loan}} are conditional on: | ||
:(a) no {{pgmslaprov|Event of Default}} or potential {{pgmslaprov|Event of Default}} existing in relation to {{pgmslaprov|Borrower}}; and | :(a) no {{pgmslaprov|Event of Default}} or potential {{pgmslaprov|Event of Default}} existing in relation to {{pgmslaprov|Borrower}}; and | ||
:(b) the {{pgmslaprov|Borrower}} having {{pgmslaprov|posted Collateral}} having a {{pgmslaprov|Market Value}} at least equal to the {{pgmslaprov|Required Collateral Value}} by the time at which {{pgmslaprov|Lender}} is due to deliver the {{pgmslaprov|Loaned Securities}}. <br> | :(b) the {{pgmslaprov|Borrower}} having {{pgmslaprov|posted Collateral}} having a {{pgmslaprov|Market Value}} at least equal to the {{pgmslaprov|Required Collateral Value}} by the time at which {{pgmslaprov|Lender}} is due to deliver the {{pgmslaprov|Loaned Securities}}. <br> | ||