Income Received - GMSLA Provision
2010 Global Master Securities Lending Agreement
Clause 6.1 in a Nutshell™
Use at your own risk, campers!
Full text of Clause 6.1
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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.