OSLA Anatomy

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1995 OSLA

1 Interpretation

Rules

2 Loans of Securities
3 Delivery of Securities
4. Rights and title
a(A) (Documents of title)
4(B) (Income)

4(B)(i) (Income Payment Dates)

4(B)(ii) (Manufactured Dividends)

4(B)(iii) (Tax deductions on Manufactured Dividends)

4(B)(iv) (Payment through an Approved UK Intermediary or Approved UK Collecting Agent)

4(B)(v) (Interest)

4(B)(vi) (Voting rights)

4(B)(vii) (Conversion rights, etc.)

4(B)(viii) (Payments under this Clause)

5 Rates
6 Collateral
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

8 Set-off etc.

8(A) Redelivery on the Performance Date

8(B) Acceleration on Event of Default

8(C) Relevant Value

8(D) Bid Value and Offer Value

8(E) Buy Ins

8(F) Non Cash Securities as Collateral

8(G) Event of Default on failure to redeliver

8(H) Waiver in case of practical difficulties redelivering

9 Taxation
10 Lender’s Warranties
11 Borrower’s Warranties
12 Events of Default
13 Outstanding Payments
14 Transactions Entered Into As Agent
15 Termination of Course of Dealings by Notice
16 Governing Practices
17 Observance of Procedures
18 Severance
19 Specific Performance
20 Notices
21 Assignment
22 Non-Waiver
23 Arbitration and Jurisdiction
24 Time
25 Recording
26 Governing Law