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Corporate actions - GMSLA Provision: Difference between revisions
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Compare Clause {{gmsla2000prov|6.3}} of the {{2000gmsla}} | Compare Clause {{gmsla2000prov|6.3}} of the {{2000gmsla}} | ||
There is a slight tension between {{gmslaprov|6.5}} and {{gmslaprov|6.6}}: while a {{gmslaprov|Borrower}} is not obliged to vote in a certain way, if it does so and acquires a certain benefit ''and the {{gmslaprov|Lender}} requests'', it has to pass over that benefit. Best illustrated by way of example: | |||
{{box|{{italianwithdrawalright}}}} | |||
In this case the {{gmslaprov|Lender}} who has lent out over the [[record date]] could not (without prior agreement) oblige the {{gmslaprov|Borrower}} to vote against the {{tag|merger}}, but if the {{gmslaprov|Borrower}} has done so, the {{gmslaprov|Lender}} can, by request under {{gmslaprov|6.7}}, require the {{gmslaprov|Borrower}} to deliver the proceeds of the withdrawal in lieu of {{gmslaprov|Equivalent}} {{gmslaprov|Securities}}. | |||
====See Also==== | ====See Also==== | ||
{{gmslaanatomy}} | {{gmslaanatomy}} | ||