Template:Nutshell Pledge GMSLA 8: Difference between revisions
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{{gmslaprov|8}}. '''{{gmslaprov|Delivery of Equivalent Securities}}''' <br> | {{gmslaprov|8}}. '''{{gmslaprov|Delivery of Equivalent Securities}}''' <br> | ||
{{ | {{gmslaprov|8.1}}: '''{{gmslaprov|Lender’s right to terminate a Loan}}''': Unless it is a [[Term stock loan|term Loan]], {{gmslaprov|Lender}} may terminate a {{gmslaprov|Loan}} and call for {{gmslaprov|Equivalent}} {{gmslaprov|Securities}} by giving notice on any {{gmslaprov|Business Day}}. {{gmslaprov|Lender}} must allow the {{gmslaprov|Borrower}} at least the [[standard settlement cycle]] to return {{gmslaprov|Equivalent}} {{gmslaprov|Securities}}. <br> | ||
{{ | {{gmslaprov|8.2}} '''{{gmslaprov|Borrower’s right to terminate a Loan}}''': The {{gmslaprov|Borrower}} may terminate a {{gmslaprov|Loan}} at any time and deliver outstanding {{gmslaprov|Equivalent}} {{gmslaprov|Securities}} to {{gmslaprov|Lender}} per its instructions. The {{gmslaprov|Lender}} must accept such delivery. <br> | ||
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Revision as of 08:07, 8 July 2020
8. Delivery of Equivalent Securities
8.1: Lender’s right to terminate a Loan: Unless it is a term Loan, Lender may terminate a Loan and call for Equivalent Securities by giving notice on any Business Day. Lender must allow the Borrower at least the standard settlement cycle to return Equivalent Securities.
8.2 Borrower’s right to terminate a Loan: The Borrower may terminate a Loan at any time and deliver outstanding Equivalent Securities to Lender per its instructions. The Lender must accept such delivery.