The Jolly Contrarian

Borrowing Request - OSLA Provision

1995 Overseas Securities Lender’s Agreement
A Jolly Contrarian owner’s manual™

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Paragraph Borrowing Request in a Nutshell™

Use at your own risk, campers!
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;

Full text of Paragraph 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;

Related agreements and comparisons

Related agreements: Click here for the equivalent clause in the 2010 GMSLA
Comparison: Template:Osladiff Borrowing Request

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Content and comparisons

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 assumption, and provided for a Loan to be terminable on notice (unless a term was otherwise agreed).

See also

Template:M sa OSLA Borrowing Request

References

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