Borrower’s right to terminate loans - OSLA Provision

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OSLA Anatomy™


In a Nutshell Clause 7(E):

7(E) Subject to the terms of the Borrowing Request, the Borrower may terminate a loan and redeliver Equivalent Securities following the Lender's instructions. The Lender must simultaneously repay or redeliver equivalent Collateral as required by Clause 6.

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1995 OSLA full text of Clause 7(E):

7(E) Subject to the terms of the relevant Borrowing Request, the Borrower shall be entitled at any time to terminate a particular loan of Securities and to redeliver all and any Equivalent Securities due and outstanding to the Lender in accordance with the Lender's instructions. The Lender shall accept such redelivery and simultaneously therewith (subject to Clause 6(I) if applicable) shall repay to the Borrower any Cash Collateral or, as the case may be, redeliver Collateral equivalent to the Collateral provided by the Borrower pursuant to Clause 6 in respect thereof.

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2010 GMSLA: Full wikitext · Nutshell wikitext | GMLSA legal code | GMSLA Netting

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1995 OSLA: OSLA wikitext | OSLA in a nutshell | GMSLA/PGMSLA/OSLA clause comparison table
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Stock lending agreement comparison: Includes navigation for the 2000 GMSLA and the 1995 OSLA

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Clause comparison

The equivalent of this clause in the 2010 GMSLA is: