Template:2018 Pledge GMSLA TOC
1. Applicability
2. Interpretation
- 2.1 Definitions
- Act of Insolvency
- Agency Annex
- Alternative Collateral
- Applicable Law
- Automatic Early Termination
- Base Currency
- Business Day
- Buy In
- Cash Collateral
- Close of Business
- Collateral
- Defaulting Party
- Delivery
- Designated Office
- Equivalent or equivalent to
- Income
- Income Record Date
- Letter of Credit
- Loaned Securities
- Margin
- Market Value
- Nominee
- Non Cash Collateral
- Non Defaulting Party
- Notification Time
- Parties
- Posted Collateral
- Reference Dealers
- Required Collateral Value
- Sales Tax
- Settlement Date
- Stamp Tax
- Tax
- Act of Insolvency
- 2.2 Headings
- 2.3 Market terminology
- 2.4 Currency conversions
- 2.5
- 2.6 Modifications etc. to legislation
3. Loans of Securities
4.1 Delivery
- 4.1 Delivery of Securities on commencement of Loan
- 4.2 Requirements to effect Delivery
- 4.3 Deliveries to be simultaneous unless otherwise agreed
- 4.4 Deliveries of Income
- 5.1 Delivery of Collateral on commencement of a Loan
- 5.2 Deliveries through securities settlement systems generating automatic payments
- 5.3 Substitutions of Collateral
- 5.4 Marking to Market of Collateral during the currency of a Loan on aggregated basis
- 5.5 Marking to Market of Collateral during the currency of a Loan on a Loan by Loan basis
- 5.6 Requirements to deliver excess Collateral
- 5.7 (Attribution of Collateral to Loans)
- 5.8 Timing of repayments of excess Collateral or deliveries of further Collateral
- 5.9 Substitutions and extensions of Letters of Credit
6. Distributions and Corporate Actions
- 6.1 Income Received
- 6.2 Manufactured payments in respect of Loaned Securities
- 6.3 Manufactured payments in respect of Non-Cash Collateral
- 6.4 Indemnity for failure to redeliver Equivalent Non-Cash Collateral
- 6.5 Income in the form of Securities
- 6.6 Exercise of voting rights
- 6.7 Corporate actions
7. Rates applicable to Loaned Securities and Cash Collateral
- 7.1 Rates in respect of Loaned Securities
- 7.2 Rates in respect of Cash Collateral
- 7.3 Payment of rates
8. Delivery of Equivalent Securities
- 8.1. Lender’s right to terminate a Loan
- 8.2. Borrower’s right to terminate a Loan
- 8.3. Delivery of Equivalent Securities on termination of a Loan
- 8.4. Delivery of Equivalent Collateral on termination of a Loan
- 8.5. Delivery of Letters of Credit
- 8.6. Delivery obligations to be reciprocal
- 9.1 Borrower’s failure to deliver Equivalent Securities
- 9.2 Lender’s failure to deliver Equivalent Collateral
- 9.3 Failure by either Party to deliver
- 10.1 List of Events of Default
- 10.2 Notification of Events of Default
- 10.3 Complete statement of remedies
- 10.4 No consequential loss
11. Consequences of an Event of Default
- 11.1 Application of 11.2 to 11.7 following Event of Default
- 11.2 Delivery and payment obligations following Event of Default
- 11.3 Definition of Default Market Value
- 11.4 Determination of Default Market Value
- 11.5 Net Value determination where unable to sell Securities
- 11.6 Where Non-Defaulting Party has not determined Default Market Value
- 11.7 Other costs, expenses and interest payable in consequence of an Event of Default
- 11.8 Set-off
- 12.1. Withholding, gross up and provision of information
- 12.2. Deduction
- 12.3. Cooperation
- 12.4. Stamp Tax
- 12.5. Tax indemnity
- 12.6. Sales Tax
- 12.7. Retrospective changes in law
13. Lender’s Warranties
14. Borrower’s Warranties
15. Interest on Outstanding Payments
16. Termination of this Agreement
17. Single Agreement
18. Severance
19. Specific Performance
20. Notices
21. Assignment
22. Non Waiver
23. Governing Law and Jurisdiction
24. Time
25. Recording
26. Waiver of Immunity
27. Miscellaneous