Redelivery of Equivalent Securities - OSLA Provision: Difference between revisions
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====Commentary==== | ====Commentary==== | ||
See Clause {{gmslaprov|8.3}} and {{gmslaprov|8.4}} of the {{tag|GMSLA}} by way of comparison, and also Clause {{gmslaprov|9}} which deals with the "mini-closeout" right upon a Party's {{gmslaprov|Failure to Deliver Equivalent Securities}} or{{gmslaprov|Failure to Deliver Equivalent Collateral}}. | See Clause {{gmslaprov|8.3}} and {{gmslaprov|8.4}} of the {{tag|GMSLA}} by way of comparison, and also Clause {{gmslaprov|9}} which deals with the "mini-closeout" right upon a Party's {{gmslaprov|Failure to Deliver Equivalent Securities}} or {{gmslaprov|Failure to Deliver Equivalent Collateral}}. | ||
Clause {{oslaprov|7(C)}} 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. | Clause {{oslaprov|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. | ||
Revision as of 10:34, 18 July 2013
Paragraph 7, 1995 Overseas Securities Lender’s Agreement
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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.
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Related Provisions
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Navigation 2018 Pledge GMSLA 1 · 2 · 3 · 4 · 5 · 6 · 7 · 8 · 9 · 10 · 11 · 12 · 13 · 14 · 15 · 16 · 17 · 18 · 19 · 20 · 21 · 22 · 23 · 24 · 25 · 26 · 27 · 28 · Schedule · Agency Annex Stock lending agreement comparison: Includes navigation for the 2000 GMSLA and the 1995 OSLA |
2010 GMSLA: Full wikitext · Nutshell wikitext | GMLSA legal code | GMSLA Netting
Pledge GMSLA: Hard copy (ISLA) · Full wikitext · Nutshell wikitext |
1995 OSLA: OSLA wikitext | OSLA in a nutshell | GMSLA/PGMSLA/OSLA clause comparison table
From Our Friends On The Internet: Guide to equity finance | ISLA’s guide to securities lending for regulators and policy makers