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2010 Global Master Securities Lending Agreement
A Jolly Contrarian owner’s manual™
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Clause 21 in a Nutshell™
Use at your own risk, campers!
21. Assignment
Other than its rights to net close out amounts due under 11.2(b) or payment of close-out costs under 11.7 neither Party may charge, assign or deal with any of its rights or obligations without the other Party’s consent.
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Full text of Clause 21
21. Assignment
21.1 Subject to paragraph 21.2, neither Party may charge, assign or otherwise deal with all or any of its rights or obligations hereunder without the prior consent of the other Party.
21.2 Paragraph 21.1 shall not preclude a party from charging, assigning or otherwise dealing with all or any part of its interest in any sum payable to it under paragraph 11.2(b) or 11.7.
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Related agreements and comparisons
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Content and comparisons
Identical to the equivalent 2018 Pledge GMSLA provision in the 2018 Pledge GMSLA.
Note by contrast that the ISDA Master Agreement does not have a prohibition on assignment. Which I think is rather curious.
See also
Template:M sa GMSLA 21
References