Borrowing Request - OSLA Provision

OSLA Anatomy™

In a Nutshell™ Clause Borrowing Request:

Borrowing Request means a request by the Borrower to the Lender under Clause 2(A) specifying the type and amount of Securities required, the proposed Settlement Date and duration of the loan, and how settlement of the Securities is to be made;
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1995 OSLA full text of Clause Borrowing Request:

Borrowing Request means a request made (by telephone or otherwise) by the Borrower to the Lender pursuant to Clause 2(A) specifying the description, title and amount of the Securities required by the Borrower, the proposed Settlement Date and duration of such loan and the date, time, mode and place of delivery which shall, where relevant, include the bank agent clearing or settlement system and account to which delivery of the Securities is to be made;
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2010 GMSLA: Full wikitext · Nutshell wikitext | GMLSA legal code | GMSLA Netting

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1995 OSLA: OSLA wikitext | OSLA in a nutshell | GMSLA/PGMSLA/OSLA clause comparison table
From Our Friends On The Internet: Guide to equity finance | ISLA’s guide to securities lending for regulators and policy makers

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the 1995 OSLA is a pretty deficient piece of legal craftspersonship — but it seems to assume that a loan will have a pre-agreed term. The 2010 GMSLA inverted that asumption, and provided for a Loan to be terminable on notice (unless a term was otherwise agreed).

Borrowing Request - OSLA Provision

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