Borrower - Pledge GMSLA Provision

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2018 Global Master Securities Lending Agreement (Pledge Version)
A Jolly Contrarian owner’s manual™

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

Index: Click to expand:

Clause Borrower in a Nutshell

Use at your own risk, campers!
The Borrower is the person specified in the Agreement as “Borrower”.

Full text of Clause Borrower

[SPECIFY] (Borrower) a company incorporated under the laws of [SPECIFY] acting through one or more Designated Offices.

Related agreements and comparisons

Related agreements: Click here for the same clause in the 2010 GMSLA
Comparison: Template:Gmsladiff Borrower

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Content and comparisons

Unlike in the 2010 GMSLA, in a 2018 Pledge GMSLA which is designed with agent lending arrangements in mind, one party (presented by an agent lender) will always be the Lender and the other (a bank desirous of upgrading the funding status of its balance sheet with higher quality assets) will always be the Borrower, so the Agreement is not entirely symmetrical — though it nearly is, since the Loans are fully collateralised, and it is heavily based on a purely bilateral agreement, and ISLA’s crack drafting squad™ we markedly disinclined to make any changes to it they didn’t have to.

Template

See also

Template:M sa Pledge GMSLA Borrower

Template

References