Template:Nutshell GMSLA 8.5: Difference between revisions
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{{gmslaprov|8.5}} '''{{gmslaprov|Delivery of Letters of Credit}}''' | {{gmslaprov|8.5}} '''{{gmslaprov|Delivery of Letters of Credit}}''': Where {{gmslaprov|Collateral}} takes the form of a {{gmslaprov|Letter of Credit}}, the {{gmslaprov|Lender}} can satisfy its obligation to redeliver {{gmslaprov|Equivalent}} {{gmslaprov|Collateral}} by delivering the {{gmslaprov|Letter of Credit}} for cancellation, or consenting to a reduction in its value. <br> | ||
Where {{gmslaprov|Collateral}} takes the form of a {{gmslaprov|Letter of Credit}}, the {{gmslaprov|Lender}} can satisfy its obligation to redeliver {{gmslaprov|Equivalent}} {{gmslaprov|Collateral}} by delivering the {{gmslaprov|Letter of Credit}} for cancellation, or consenting to a reduction in its value. <br> | |||
Latest revision as of 14:38, 7 July 2020
8.5 Delivery of Letters of Credit: Where Collateral takes the form of a Letter of Credit, the Lender can satisfy its obligation to redeliver Equivalent Collateral by delivering the Letter of Credit for cancellation, or consenting to a reduction in its value.