5 - 2000 GMSLA Provision

2000 Global Master Securities Lending Agreement A Jolly Contrarian owner’s manual™ Resources and navigation Index: Click ᐅ to expand: 2000 GMSLA Navigation (2000 GMSLA): 1 | 2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 | 10 | 11 | 12 | 13 | 14 | 15 | 16 | 17 | 18 | 19 | 20 | 21 | 22 | 23 | 24 | 25 | 26 | 27 | 28 | Schedule | Agency Annex | Addendum for Pooled Principal Agency Loans Stock Lending Anatomies: GMSLA Anatomy | Pledge GMSLA Anatomy | 2000 GMSLA Anatomy | OSLA Anatomy Clause 5 in a Nutshell™ Use at your own risk, campers! Template:Nutshell 2000 GMSLA 5 view template Full text of Clause 5 5. Collateral Template:GMSLA 2000 5.1 Template:GMSLA 2000 5.2 Template:GMSLA 2000 5.3 5.4 Marking to Market of Collateral during the currency of a Loan on aggregated basis Unless paragraph 1.3 of the Schedule indicates that paragraph 5.5 shall apply in lieu of this paragraph 5.4, or unless otherwise agreed between the Parties:- (i) the aggregate Market Value of the Collateral delivered to or deposited with Lender (excluding any Equivalent Collateral repaid or redelivered under Paragraphs 5.4(ii) or 5.5(ii) (as the case may be)) (“Posted Collateral”) in respect of all Loans outstanding under this Agreement shall equal the aggregate of the Market Value of the Loaned Securities and the applicable Margin (the “Required Collateral Value”) in respect of such Loans; (ii) if at any time on any Business Day the aggregate Market Value of the Posted Collateral in respect of all Loans outstanding under this Agreement exceeds the aggregate of the Required Collateral Values in respect of such Loans, Lender shall (on demand) repay and/or redeliver. as the case may be, to Borrower such Equivalent Collateral as will eliminate the excess; (iii) if at any time on any Business Day the aggregate Market Value of the Posted Collateral in respect of all Loans outstanding under this Agreement falls below the aggregate of Required Collateral Values in respect of all such Loans, Borrower shall (on demand) provide such further Collateral to Lender as will eliminate the deficiency. 5.5 Marking to Market of Collateral during the currency of a Loan on a Loan by Loan basis If paragraph 1.3 of the Schedule indicates this paragraph 5.5 shall apply in lieu of paragraph 5.4, the Posted Collateral in respect of any Loan shall bear from day to day and at any time the same proportion to the Market Value of the Loaned Securities as the Posted Collateral bore at the commencement of such Loan. Accordingly: (i) the Market Value of the Posted Collateral to be delivered or deposited while the Loan continues shall be equal to the Required Collateral Value; (ii) if at any time on any Business Day the Market Value of the Posted Collateral in respect of any Loan exceeds the Required Collateral Value in respect of such Loan, Lender shall (on demand) repay and/or redeliver, as the case may be, to Borrower such Equivalent Collateral as will eliminate the excess; and (iii} if at any time on any Business Day the Market Value of the Posted Collateral falls below the Required Collateral Value, Borrower shall (on demand) provide such further Collateral to Lender as will eliminate the deficiency. Template:GMSLA 2000 5.9 view template Related agreements and comparisons Related agreements: Click here for the same clause in the 2010 GMSLA Comparison: Click to [[special:diff/{{{1}}}/{{{2}}}|compare]] the 2000 GMSLA and 2010 GMSLA versions of this clause. Tell me more Sign up for our newsletter — or just get in touch: for ½ a weekly 🍺 you get to consult JC. Ask about it here.

Content and comparisons

Template

Summary

Template

General discussion

Template

See also

Template