Template:Nutshell GMRA 2000 1(a)

1(a) The parties acting through their Designated Offices, may enter into Transactions in which:

• a “Seller” agrees to sell securities and financial instruments (“Securities”) to a “Buyer” (subject to paragraph 1(c), other than equities and Net Paying Securities) against the payment of the purchase price by Buyer to Seller, and simultaneously
• Buyer agrees to sell equivalent Securities back to Seller on a certain date (or on demand) against the payment of the repurchase price by Seller to Buyer.