Redelivery of Equivalent Securities - OSLA Provision: Difference between revisions
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Revision as of 15:54, 22 July 2013
Paragraph 7, 1995 Overseas Securities Lender’s Agreement
Template:1995 OSLA 7
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Commentary
See Clause 8.3 and 8.4 of the GMSLA by way of comparison, and also Clause 9 which deals with the "mini-closeout" right upon a Party's Failure to Deliver Equivalent Securities or Failure to Deliver Equivalent Collateral.
Clause 7(C) of the OSLA operates in much the same way as the "mini-closeout", by permitting a Non-Defaulting Party to determine a value of each Loan as the difference between the value of the opposing legs of the trade.
Related Provisions
- 2010 GMSLA Paragraphs 8 and 9.
OSLA Anatomy - Resources
Documentation: 1995 OSLA | 2010 GMSLA |
More Information: | GMSLA Netting | Guide to Equity Finance
See also: GMSLA Anatomy | Other Anatomies
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