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Deliveries of Income - Pledge GMSLA Provision: Difference between revisions
Deliveries of Income - Pledge GMSLA Provision (view source)
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{{pgmslaanat|4. | {{pgmslaanat|4.4}} | ||
Rather like the equivalent provision (para {{gmslaprov|4.3}}) in the {{gmsla}}, only no reference to {{gmslaprov|Collateral}}, seeing as the {{gmslaprov|Lender}} doesn’t ever get title to the {{gmslaprov|Collateral}}, so all the {{gmslaprov|Income}} automatically vests in the {{gmslaprov|Borrower}} anyway without any of this need for customary and appropriate endorsements (and certainly no risk that the {{gmslaprov|Lender}} has disposed of the {{gmslaprov|Collateral}}, which it doesn’t own in the first place. | Rather like the equivalent provision (para {{gmslaprov|4.3}}) in the {{gmsla}}, only no reference to {{gmslaprov|Collateral}}, seeing as the {{gmslaprov|Lender}} doesn’t ever get title to the {{gmslaprov|Collateral}}, so all the {{gmslaprov|Income}} automatically vests in the {{gmslaprov|Borrower}} anyway without any of this need for customary and appropriate endorsements (and certainly no risk that the {{gmslaprov|Lender}} has disposed of the {{gmslaprov|Collateral}}, which it doesn’t own in the first place. | ||
{{sa}} | {{sa}} | ||
*The equivalent paragraph {{gmslaprov|4. | *The equivalent paragraph {{gmslaprov|4.4}} in the {{gmsla}}. | ||