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GMRA Anatomy™
In a Nutshell™ Clause 2(ff):
Template:Nutshell GMRA 2(ff)
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Global Master Repurchase Agreement full text of Clause 2(ff):
2(ff) “Net Paying Securities”, Securities which are of a kind such that, were they to be the subject of a Transaction to which paragraph 5 applies, any payment made by Buyer under paragraph 5 would be one in respect of which either Buyer would or might be required to make a withholding or deduction for or on account of taxes or duties or Seller might be required to make or account for a payment for or on account of taxes or duties (in each case other than tax on overall net income) by reference to such payment;
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