Talk:Corporate actions - Pledge GMSLA Provision

2018

6.4 Corporate actions: Where, in respect of any Loaned Securities, any rights relating to conversion, sub-division, consolidation, pre-emption, rights arising under a takeover offer, rights to receive Securities or a certificate which may at a future date be exchanged for Securities or other rights, including those requiring election by the holder for the time being of such Securities, become exercisable prior to the Delivery of Equivalent Securities, then Lender may, within a reasonable time before the latest time for the exercise of the right or option give written notice to Borrower that on Delivery of Equivalent Securities it wishes to receive Equivalent Securities in such form as will arise if the right is exercised or, in the case of a right which may be exercised in more than one manner, is exercised as is specified in such written notice.