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GMSLA Anatomy™
In a Nutshell™ Clause Delivery:
Delivery and deliver means to credit Securities, Collateral or Equivalents to the transferee’s account or as it directs;
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2010 GMSLA full text of Clause Delivery:
Delivery in relation to any Securities or Collateral or Equivalent Securities or Equivalent Collateral comprising Securities means:
- (a) in the case of Securities held by a Nominee or within a clearing or settlement system, the crediting of such Securities to an account of the Borrower or Lender, as the case may be, or as it shall direct, or,
- (b) in the case of Securities otherwise held, the delivery to Borrower or Lender, as the case may be, or as the transferee shall direct of the relevant instruments of transfer, or
- (c) by such other means as may be agreed,
and deliver shall be construed accordingly;
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