1995 Overseas Securities Lender’s Agreement
The 1995 OSLA is the predecessor to the 2010 GMSLA. It is not widely used these days, though there are still versions kicking around and we do need to know about it. There is a sketchy OSLA Anatomy and a version of the Agreement itself can be perused here, but unless you are looking at an existing agreement that can’t be changed, your much better bet is to look at the 2010 GMSLA, and study the anatomy of that document.
Interesting features
- Voting rights: Unlike the 2010 GMSLA, the 1995 OSLA contains a “best efforts” obligation to vote securities at the direction of the person who posted them to you. This is somewhat challenging given the title transfer nature of the agreement, but there you have it. the OSLA is a product of a more innocent age. for more in formation see 4(b)(vi) (voting rights)
OSLA Anatomy - Resources
Documentation: 1995 OSLA | 2010 GMSLA |
More Information: | GMSLA Netting | Guide to Equity Finance
See also: GMSLA Anatomy | Other Anatomies
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