Template:GMRA 2000 6: Difference between revisions
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Amwelladmin (talk | contribs) (Created page with "'''{{gmraprov|6}}. {{gmraprov|Payment and Transfer}}'''<br> {{gmraprov|6(a)}} Unless otherwise agreed, all money paid hereunder shall be in immediately available fre...") |
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'''{{gmraprov|6}}. {{gmraprov|Payment and Transfer}}'''<br> | '''{{gmraprov|6}}. {{gmraprov|Payment and Transfer}}'''<br> | ||
{{gmraprov|6(a)}} Unless otherwise agreed, all money paid hereunder shall be in immediately available freely convertible funds of the relevant currency. All {{gmraprov|Securities}} to be transferred hereunder (i) shall be in suitable form for transfer and shall be accompanied by duly executed instruments of transfer or assignment in blank (where required for transfer) and such other documentation as the transferee may reasonably request, or (ii) shall be transferred through the book entry system of {{gmraprov|Euroclear}} or {{gmraprov|Clearstream}}, or (iii) shall be transferred through any other agreed {{gmraprov|Securities}} clearance system or (iv) shall be transferred by any other method mutually acceptable to {{gmraprov|Seller}} and {{gmraprov|Buyer}}.<br> | {{gmraprov|6(a)}} Unless otherwise agreed, all money paid hereunder shall be in immediately available freely convertible funds of the relevant currency. All {{gmraprov|Securities}} to be transferred hereunder <br> | ||
:(i) shall be in suitable form for transfer and shall be accompanied by duly executed instruments of transfer or assignment in blank (where required for transfer) and such other documentation as the transferee may reasonably request, or <br> | |||
:(ii) shall be transferred through the book entry system of {{gmraprov|Euroclear}} or {{gmraprov|Clearstream}}, or <br> | |||
:(iii) shall be transferred through any other agreed {{gmraprov|Securities}} clearance system or (iv) shall be transferred by any other method mutually acceptable to {{gmraprov|Seller}} and {{gmraprov|Buyer}}.<br> | |||
{{gmraprov|6(b)}} Unless otherwise agreed, all money payable by one party to the other in respect of any {{gmraprov|Transaction}} shall be paid free and clear of, and without withholding or deduction for, any taxes or duties of whatsoever nature imposed, levied, collected, withheld or assessed by any authority having power to tax, unless the withholding or deduction of such taxes or duties is required by law. In that event, unless otherwise agreed, the paying party shall pay such additional amounts as will result in the net amounts receivable by the other party (after taking account of such withholding or deduction) being equal to such amounts as would have been received by it had no such taxes or duties been required to be withheld or deducted.<br> | {{gmraprov|6(b)}} Unless otherwise agreed, all money payable by one party to the other in respect of any {{gmraprov|Transaction}} shall be paid free and clear of, and without withholding or deduction for, any taxes or duties of whatsoever nature imposed, levied, collected, withheld or assessed by any authority having power to tax, unless the withholding or deduction of such taxes or duties is required by law. In that event, unless otherwise agreed, the paying party shall pay such additional amounts as will result in the net amounts receivable by the other party (after taking account of such withholding or deduction) being equal to such amounts as would have been received by it had no such taxes or duties been required to be withheld or deducted.<br> | ||
{{gmraprov|6(c)}} Unless otherwise agreed in writing between the parties, under each {{gmraprov|Transaction}} transfer of {{gmraprov|Purchased Securities}} by {{gmraprov|Seller}} and payment of {{gmraprov|Purchase Price}} by {{gmraprov|Buyer}} against the transfer of such {{gmraprov|Purchased Securities}} shall be made simultaneously and transfer of {{gmraprov|Equivalent Securities}} by {{gmraprov|Buyer}} and payment of {{gmraprov|Repurchase Price}} payable by {{gmraprov|Seller}} against the transfer of such {{gmraprov|Equivalent Securities}} shall be made simultaneously.<br> | {{gmraprov|6(c)}} Unless otherwise agreed in writing between the parties, under each {{gmraprov|Transaction}} transfer of {{gmraprov|Purchased Securities}} by {{gmraprov|Seller}} and payment of {{gmraprov|Purchase Price}} by {{gmraprov|Buyer}} against the transfer of such {{gmraprov|Purchased Securities}} shall be made simultaneously and transfer of {{gmraprov|Equivalent Securities}} by {{gmraprov|Buyer}} and payment of {{gmraprov|Repurchase Price}} payable by {{gmraprov|Seller}} against the transfer of such {{gmraprov|Equivalent Securities}} shall be made simultaneously.<br> | ||