Redelivery of Equivalent Securities - OSLA Provision: Difference between revisions
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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. | 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. | ||
====Related Provisions==== | ====Related Provisions==== | ||
*{{gmsla}} Paragraphs {{gmslaprov|8}} and {{gmslaprov|9}}. | |||
{{gmslaanatomy}} | {{gmslaanatomy}} | ||
Revision as of 11:09, 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.
Related Provisions
- 2010 GMSLA Paragraphs 8 and 9.
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