Template:GMSLA 2010 8.1: Difference between revisions
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'''{{gmslaprov|8.1}}''' '''{{gmslaprov|Lender’s right to terminate a Loan}}'''<br> | '''{{gmslaprov|8.1}}''' '''{{gmslaprov|Lender’s right to terminate a Loan}}'''<br> | ||
Subject to paragraph {{gmslaprov|11}} and the terms of the relevant {{gmslaprov|Loan}}, {{gmslaprov|Lender}} shall be entitled to terminate a {{gmslaprov|Loan}} and to call for the delivery of all or any {{gmslaprov|Equivalent}} {{gmslaprov|Securities}} at any time by giving notice on any {{gmslaprov|Business Day}} of not less than the standard settlement time for such {{gmslaprov|Equivalent}} {{gmslaprov|Securities}} on the exchange or in the clearing organisation through which the {{gmslaprov|Loaned Securities}} were originally delivered. {{gmslaprov|Borrower}} shall deliver such {{gmslaprov|Equivalent}} {{gmslaprov|Securities}} not later than the expiry of such notice in accordance with {{gmslaprov|Lender}}’s instructions.<br> | Subject to paragraph {{gmslaprov|11}} and the terms of the relevant {{gmslaprov|Loan}}, {{gmslaprov|Lender}} shall be entitled to terminate a {{gmslaprov|Loan}} and to call for the delivery of all or any {{gmslaprov|Equivalent}} {{gmslaprov|Securities}} at any time by giving notice on any {{gmslaprov|Business Day}} of not less than the {{gmslaprov|standard settlement time}} for such {{gmslaprov|Equivalent}} {{gmslaprov|Securities}} on the exchange or in the clearing organisation through which the {{gmslaprov|Loaned Securities}} were originally delivered. {{gmslaprov|Borrower}} shall deliver such {{gmslaprov|Equivalent}} {{gmslaprov|Securities}} not later than the expiry of such notice in accordance with {{gmslaprov|Lender}}’s instructions.<br> | ||
Revision as of 17:07, 15 March 2016
8.1 Lender’s right to terminate a Loan
Subject to paragraph 11 and the terms of the relevant Loan, Lender shall be entitled to terminate a Loan and to call for the delivery of all or any Equivalent Securities at any time by giving notice on any Business Day of not less than the standard settlement time for such Equivalent Securities on the exchange or in the clearing organisation through which the Loaned Securities were originally delivered. Borrower shall deliver such Equivalent Securities not later than the expiry of such notice in accordance with Lender’s instructions.