Redelivery of Equivalent Securities - OSLA Provision

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Paragraph 7, 1995 Overseas Securities Lender’s Agreement

Template:1995 OSLA 7
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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

OSLA Anatomy - Resources

Documentation: 1995 OSLA | 2010 GMSLA |
More Information: | GMSLA Netting | Guide to Equity Finance
See also: GMSLA Anatomy | Other Anatomies
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