Failure by either Party to deliver - GMSLA Provision
Commentary
Mini close-out
See the discussion on mini close-out under the 2010 GMSLA (and the 1995 OSLA for that matter) and also the general discussion with regard to this clause in its wider context at clause 9.
Note also the clear exclusion of indirect and consequential losses, as well as losses to which the Transferee is contributorily negligent. If you are thinking I just made up the adjective "contributorily", and concluding I'm maybe a bit reckless* you might be interest to know it is actually a word.
*I expect careful attorneys to be rolling around on the floor laughing at this bon mot.
Related Provisions
update to anat|gmsla
|
Navigation 2018 Pledge 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 Stock lending agreement comparison: Includes navigation for the 2000 GMSLA and the 1995 OSLA |
2010 GMSLA: Full wikitext · Nutshell wikitext | GMLSA legal code | GMSLA Netting
Pledge GMSLA: Hard copy (ISLA) · Full wikitext · Nutshell wikitext |
1995 OSLA: OSLA wikitext | OSLA in a nutshell | GMSLA/PGMSLA/OSLA clause comparison table
From Our Friends On The Internet: Guide to equity finance | ISLA’s guide to securities lending for regulators and policy makers