Template:Nutshell OSLA Recital

Whereas:-

1. The Parties want to agree arrangements under which one (the Lender) will make Securities available to the other (the Borrower) from time to time so the Borrower can sell them to someone else, so that someone else can sell them to someone else,, who in turn can sell them — and so on and so on you get the picture — or — hell, I don’t know — for other purposes too.

2. All transactions carried out under this Agreement will be effected in accordance with applicable Rules market practices, customs and conventions.