Redelivery of Equivalent Securities - OSLA Provision: Difference between revisions
Amwelladmin (talk | contribs) mNo edit summary |
Amwelladmin (talk | contribs) No edit summary |
||
| Line 1: | Line 1: | ||
{{1995 OSLA Section 7 TOC}} | |||
{{oslasnap|7}} | {{oslasnap|7}} | ||
====Commentary==== | ====Commentary==== | ||
Revision as of 16:39, 22 July 2013
7. Redelivery of Equivalent Securities
- 7(A) Borrower’s undertaking to redeliver Equivalent Securities
- 7(B) Lender’s right to call for redelivery of Equivalent Securities
- 7(C) Lender’s election where Borrower does not return Equivalent Securities
- 7(D) Borrower to pay reasonable costs of any Buy-in
- 7(E) Borrower’s right to terminate loans
- 7(F) Redelivery of Talisman certificates
Paragraph 7, 1995 Overseas Securities Lender’s Agreement
Template:1995 OSLA 7
view template
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.
OSLA Anatomy - Resources
Documentation: 1995 OSLA | 2010 GMSLA |
More Information: | GMSLA Netting | Guide to Equity Finance
See also: GMSLA Anatomy | Other Anatomies
Clause Navigation: 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 |
Back to: OSLA Anatomy
Anatomy™: AIFMD | CASS | COBS | Conference calls | Confis | CRR | CSA | EMIR | Equity Derivatives | FOA PCA | FUND | GMRA | GMSLA | ISDA | OSLA | PB | Swapclear | UCITS