Third Party Rights - GMRA Provision

2000 Global Master Repurchase Agreement A Jolly Contrarian owner’s manual™ Resources and navigation Resources: 2010 GMRA: Full wikitext · Nutshell wikitext Navigation 2000 GMRA Table of Contents · 1 · 2 · 3 · 4 · 5 · 6 · 7 · 8 · 9 · 10 · 11 · 12 · 13 · 14 · 15 · 16 · 17 · 18 · 19 · 20 · 21 · Schedule · Equities Annex: EA 1 · EA 2 · EA 3 · EA 4 · EA 5 · Buy/Sellback Annex · BSA 1 · BSA 2 · BSA 3 · BSA 4 · BNA 5 Index: Click ᐅ to expand: GMRA Paragraph 21 in a Nutshell™ Use at your own risk, campers! 21. Third Party Rights No person may enforce any part of this Agreement under the Contracts (Rights of Third Parties) Act 1999. view template Full text of Paragraph 21 21. Third Party Rights No person shall have any right to enforce any provision of this Agreement under the Contracts (Rights of Third Parties) Act 1999. view template Related agreements and comparisons Related agreements: Click here for the same clause in the 1996 MRA, when we get round to finding out the first thing about it. Comparison: Knowing and, really, caring very little about other kinds of repo agreement, we have nothing presently to compare the Global Master Repurchase Agreement with. 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

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Summary

You may know our views on the industry’s collective hatred of the Contracts (Rights of Third Parties) Act 1999. In this age of inclusivity, best lives lived and all that, it remains inexplicable to us that there should be such outright hostility to what is a fairly sensible piece of legislation that really does no harm to anyone. And here this redoubtable little act must have thought, for once, it got away with it: The governing law clause has been and gone, you’ve made it past the waivers, sovereign immunity, even the bit about recording phone calls for crying out loud, the finish line is in sight, we’re going to make it, slowly ... nearly ... just about ... and WHAM! YOU ARE OFF THE TEAM MY LITTLE LEGISLATEY FRIEND.

So cruel, the capital markets.

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See also

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