Income Received - GMSLA Provision

2010 Global Master Securities Lending Agreement A Jolly Contrarian owner’s manual™ Resources and navigation 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 Navigation 2010 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 · Schedule · Agency Annex · Addendum for Pooled Principal Agency Loans 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 Loan owner’s manuals: 2010 GMSLA · 2000 GMSLA · Pledge GMSLA · OSLA Index: Click ᐅ to expand: GMSLA Pledge GMSLA Clause 6.1 in a Nutshell™ Use at your own risk, campers! 6.1 In this paragraph, Income recevied on any Loaned Securities or Non Cash Collateral means the amount received after any withholdings or deductions of Tax. view template Full text of Clause 6.1 6.1 In this paragraph 6, references to an amount of Income received by any Party in respect of any Loaned Securities or Non Cash Collateral shall be to an amount received from the issuer after any applicable withholding or deduction for or on account of Tax. view template Related agreements and comparisons Related agreements: Click here for the same clause in the 2018 Pledge GMSLA Related agreements: Click here for the same clause in the 1995 OSLA Comparison: Template:Gmsladiff 6.1 Comparison: Template:Osladiff 6.1 Tell me more Sign up for our newsletter — or just get in touch: for ½ a weekly 🍺 you get to consult JC. Ask about it here.

Content and comparisons

There is no specific equivalent in the 2018 Pledge GMSLA but the effect of this clause — since it only applies now to Loaned Securities and not Collateral, so wouldn’t otherwise need to be repeated — is injected into the closing cadences of Clause 6.2 — a small gesture towards verbal economy that, for once, probably wasn’t worth it, seeing as it throws the numbering out between the 2010 GMSLA and the 2018 Pledge GMSLA, and makes people starting at the new document for the first time go, “now, why did they remove that bit about withholding on Income payments?”. Answer: they didn’t.

Template

See also

Template