Template:GMSLA 2010 6.7: Difference between revisions
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{{gmslaprov|6.7}} '''{{gmslaprov|Corporate actions}}''' <br> | {{gmslaprov|6.7}} '''{{gmslaprov|Corporate actions}}''' <br> | ||
:Where, in respect of any {{gmslaprov|Loaned Securities}} or any {{gmslaprov|Collateral}}, any rights relating to conversion, sub division, consolidation, pre emption, rights arising under a takeover offer, rights to receive securities or a certificate which may at a future date be exchanged for securities or other rights, including those requiring election by the holder for the time being of such {{gmslaprov|Securities}} or {{gmslaprov|Collateral}}, become exercisable prior to the delivery of {{gmslaprov|Equivalent Securities}} or {{gmslaprov|Equivalent Collateral}}, then {{gmslaprov|Lender}} or {{gmslaprov|Borrower}}, as the case may be, may, within a reasonable time before the latest time for the exercise of the right or option give written notice to the other {{gmslaprov|Party}} that on delivery of {{gmslaprov|Equivalent Securities}} or {{gmslaprov|Equivalent Collateral}}, as the case may be, it wishes to receive {{gmslaprov|Equivalent Securities}} or {{gmslaprov|Equivalent Collateral}} in such form as will arise if the right is exercised or, in the case of a right which may be exercised in more than one manner, is exercised as is specified in such written notice. <br> | :Where, in respect of any {{gmslaprov|Loaned Securities}} or any {{gmslaprov|Collateral}}, any rights relating to conversion, sub division, consolidation, pre emption, rights arising under a takeover offer, rights to receive securities or a certificate which may at a future date be exchanged for securities or other rights, including those requiring election by the holder for the time being of such {{gmslaprov|Securities}} or {{gmslaprov|Collateral}}, become exercisable prior to the delivery of {{gmslaprov|Equivalent}} {{gmslaprov|Securities}} or {{gmslaprov|Equivalent}} {{gmslaprov|Collateral}}, then {{gmslaprov|Lender}} or {{gmslaprov|Borrower}}, as the case may be, may, within a reasonable time before the latest time for the exercise of the right or option give written notice to the other {{gmslaprov|Party}} that on delivery of {{gmslaprov|Equivalent}} {{gmslaprov|Securities}} or {{gmslaprov|Equivalent}} {{gmslaprov|Collateral}}, as the case may be, it wishes to receive {{gmslaprov|Equivalent}} {{gmslaprov|Securities}} or {{gmslaprov|Equivalent}} {{gmslaprov|Collateral}} in such form as will arise if the right is exercised or, in the case of a right which may be exercised in more than one manner, is exercised as is specified in such written notice. <br> | ||
Revision as of 13:32, 2 July 2013
- Where, in respect of any Loaned Securities or any Collateral, any rights relating to conversion, sub division, consolidation, pre emption, rights arising under a takeover offer, rights to receive securities or a certificate which may at a future date be exchanged for securities or other rights, including those requiring election by the holder for the time being of such Securities or Collateral, become exercisable prior to the delivery of Equivalent Securities or Equivalent Collateral, then Lender or Borrower, as the case may be, may, within a reasonable time before the latest time for the exercise of the right or option give written notice to the other Party that on delivery of Equivalent Securities or Equivalent Collateral, as the case may be, it wishes to receive Equivalent Securities or Equivalent Collateral in such form as will arise if the right is exercised or, in the case of a right which may be exercised in more than one manner, is exercised as is specified in such written notice.