Template:Nutshell GMSLA 5.4: Difference between revisions
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Amwelladmin (talk | contribs) (Created page with "{{gmslaprov|5.4}} Unless "single {{gmslaprov|Loan}} margining" under {{gmslaprov|5.5}} applies: :(a) '''{{gmslaprov|Required Collateral Value}}''': The aggregate {{gmslaprov|...") |
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::(i) all unpaid amounts due by the {{gmslaprov|Lender}}; and <br> | ::(i) all unpaid amounts due by the {{gmslaprov|Lender}}; and <br> | ||
::(ii) the {{gmslaprov|Market Value}} of {{gmslaprov|Income}} due on any {{gmslaprov|Non-Cash Collateral}} <br> | ::(ii) the {{gmslaprov|Market Value}} of {{gmslaprov|Income}} due on any {{gmslaprov|Non-Cash Collateral}} <br> | ||
:exceeds the aggregate of the {{gmslaprov|Required Collateral Value}} plus: | ::exceeds the aggregate of the {{gmslaprov|Required Collateral Value}} plus: | ||
::(i) all unpaid amounts due by the {{gmslaprov|Borrower}}; and | ::(i) all unpaid amounts due by the {{gmslaprov|Borrower}}; and | ||
::(ii) the {{gmslaprov|Market Value}} of {{gmslaprov|Income}} due on the {{gmslaprov|Equivalent Securities}},<br> | ::(ii) the {{gmslaprov|Market Value}} of {{gmslaprov|Income}} due on the {{gmslaprov|Equivalent Securities}},<br> | ||
:{{gmslaprov|Lender}} must repay to {{gmslaprov|Borrower}} such {{gmslaprov|Equivalent}} {{gmslaprov|Collateral}} as will eliminate the excess; | ::{{gmslaprov|Lender}} must repay to {{gmslaprov|Borrower}} such {{gmslaprov|Equivalent}} {{gmslaprov|Collateral}} as will eliminate the excess; | ||
:(c) '''{{gmslaprov|Collateral}} Deficiency''': if the aggregate {{gmslaprov|Market Value}} of the {{gmslaprov|Posted Collateral}} plus: <br> | :(c) '''{{gmslaprov|Collateral}} Deficiency''': if the aggregate {{gmslaprov|Market Value}} of the {{gmslaprov|Posted Collateral}} plus: <br> | ||
::(i) all unpaid amounts due by the {{gmslaprov|Lender}}; and <br> | ::(i) all unpaid amounts due by the {{gmslaprov|Lender}}; and <br> | ||
::(ii) the {{gmslaprov|Market Value}} of {{gmslaprov|Income}} due on any {{gmslaprov|Non-Cash Collateral}} <br> | ::(ii) the {{gmslaprov|Market Value}} of {{gmslaprov|Income}} due on any {{gmslaprov|Non-Cash Collateral}} <br> | ||
:falls below the aggregate {{gmslaprov|Required Collateral Value}} plus: | ::falls below the aggregate {{gmslaprov|Required Collateral Value}} plus: | ||
::(i) all unpaid amounts due by the {{gmslaprov|Borrower}}; and | ::(i) all unpaid amounts due by the {{gmslaprov|Borrower}}; and | ||
::(ii) the {{gmslaprov|Market Value}} of {{gmslaprov|Income}} due on any {{gmslaprov|Equivalent Securities}},<br> | ::(ii) the {{gmslaprov|Market Value}} of {{gmslaprov|Income}} due on any {{gmslaprov|Equivalent Securities}},<br> | ||
:{{gmslaprov|Borrower}} must provide such further {{gmslaprov|Collateral}} to {{gmslaprov|Lender}} as will eliminate the deficiency;<br> | ::{{gmslaprov|Borrower}} must provide such further {{gmslaprov|Collateral}} to {{gmslaprov|Lender}} as will eliminate the deficiency;<br> | ||
:(d) '''Shorts and Longs''': where a {{gmslaprov|Party}} acts as both {{gmslaprov|Lender}} and {{gmslaprov|Borrower}} under this {{gmslaprov|Agreement}}, the provisions of paragraphs {{gmslaprov|5.4}}(b) and {{gmslaprov|5.4}}(c) shall apply separately (and without duplication) in respect of {{gmslaprov|Loans}} entered into by that {{gmslaprov|Party}} as {{gmslaprov|Lender}} and {{gmslaprov|Loans}} entered into by that {{gmslaprov|Party}} as {{gmslaprov|Borrower}}. | :(d) '''Shorts and Longs''': where a {{gmslaprov|Party}} acts as both {{gmslaprov|Lender}} and {{gmslaprov|Borrower}} under this {{gmslaprov|Agreement}}, the provisions of paragraphs {{gmslaprov|5.4}}(b) and {{gmslaprov|5.4}}(c) shall apply separately (and without duplication) in respect of {{gmslaprov|Loans}} entered into by that {{gmslaprov|Party}} as {{gmslaprov|Lender}} and {{gmslaprov|Loans}} entered into by that {{gmslaprov|Party}} as {{gmslaprov|Borrower}}. |