Agency Annex - Pledge GMSLA Provision

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2018 Global Master Securities Lending Agreement (Pledge version)

A Jolly Contrarian owner’s manual™

Agency Annex in a Nutshell

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Original text

The Varieties of Stock Lending Experience
Subject 2010 GMSLA 2018 Pledge GMSLA 1995 OSLA
Applicability/Preamble 1 1 Preamble
Interpretation 2 2 1
Definitions 2.1 2.1 1
Loans of Securities 3 3 2
Delivery 4 4 3
Collateral 5 5 6
Distributions and Corporate Actions 6 6 4 (“Rights and Title”)
Rates for Loans and Collateral 7 7 4
Delivery of Equivalent Securities 8 8 7
Failure to Deliver 9 9 N/A
Events of Default 10 10 12
Consequences of Events of Default 11 11 8 (“Set-off”)
Taxation 12 12 9
Lender's Warranties 13 13 10
Borrower's Warranties 14 14 11
Interest on Outstanding Payments 15 15 13
Termination of Agreement 16 16 15
Single Agreement 17 17 N/A
Severance 18 18 18
Specific Performance 19 19 19
Notices 20 20 20
Assignment 21 21 21
Non-Waiver 22 21 22
Governing Law and Jurisdiction 23 23 26
Time 24 24 24
Recording 25 25 25
Waiver of Immunity 26 26 N/A
Expenses N/A 27 N/A
Miscellaneous 27 28 N/A

Resources and Navigation

Navigation

2010 GMSLA 1 · 2 · 3 · 4 · 5 · 6 · 7 · 8 · 9 · 10 · 11 · 12 · 13 · 14 · 15 · 16 · 17 · 18 · 19 · 20 · 21 · 22 · 23 · 24 · 25 · 26 · 27 · Schedule · Agency Annex · Addendum for Pooled Principal Agency Loans
2018 Pledge GMSLA 1 · 2 · 3 · 4 · 5 · 6 · 7 · 8 · 9 · 10 · 11 · 12 · 13 · 14 · 15 · 16 · 17 · 18 · 19 · 20 · 21 · 22 · 23 · 24 · 25 · 26 · 27 · 28 · Schedule · Agency Annex

Stock Loan owner’s manuals: 2010 GMSLA · 2000 GMSLA · Pledge GMSLA · OSLA

Index: Click to expand:

Comparisons

Template:Gmsla Agency Annex comp

Basics

This is the Annex referred to in the definitions section:

Agency Annex means the Annex to this Agreement published by the International Securities Lending Association and providing for Lender to act as agent for a third party in respect of one or more Loans;

This applies where you the arrangement being documented is an agent lending arrangement: essentually a wealth manager, as agent, hawking out its customers’ long collateral into the stock loan market to earn its customers fees and itself some additional commission.

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See also

Template:Gmsla Agency Annex sa

References