82,891
edits
Amwelladmin (talk | contribs) No edit summary |
Amwelladmin (talk | contribs) No edit summary |
||
Line 7: | Line 7: | ||
*Under {{gmslaprov|6.5}} {{gmslaprov|Income}} in the form of {{gmslaprov|Securities}} are rolled up into the {{gmslaprov|Loan}} and not redelivered immediately; | *Under {{gmslaprov|6.5}} {{gmslaprov|Income}} in the form of {{gmslaprov|Securities}} are rolled up into the {{gmslaprov|Loan}} and not redelivered immediately; | ||
*Under {{gmslaprov|6.5}} unless otherwise required, a {{gmslaprov|Borrower}} is NOT obliged to vote shares on behalf of the Lender; | *Under {{gmslaprov|6.5}} unless otherwise required, a {{gmslaprov|Borrower}} is NOT obliged to vote shares on behalf of the Lender; | ||
*Under {{gmslaprov|6.6}}, however, where a {{gmslaprov|Borrower}} acquires rights as a result of any corporate action or takeover activity, (including those requiring specific elections), upon {{gmslaprov|Lender}}'s request {{gmslaprov|Borrower}} must return {{gmslaprov|Equivalent}} {{gmslaprov|Securities}} or {{gmslaprov|Collateral}} "in such form as would arise | *Under {{gmslaprov|6.6}}, however, where a {{gmslaprov|Borrower}} acquires rights as a result of any corporate action or takeover activity, (including those requiring specific elections by the holder for the time being), upon {{gmslaprov|Lender}}'s request {{gmslaprov|Borrower}} must return {{gmslaprov|Equivalent}} {{gmslaprov|Securities}} or {{gmslaprov|Collateral}} "in such form as would arise if exercised". | ||
There is a slight tension between {{gmslaprov|6.5}} and {{gmslaprov|6.6}}: while a Borrower is not obliged to vote in a certain way, if it does so and acquires a certain benefit ''and the Lender requests'', it has to pass over that benefit. Best illustrated by way of example: | There is a slight tension between {{gmslaprov|6.5}} and {{gmslaprov|6.6}}: while a Borrower is not obliged to vote in a certain way, if it does so and acquires a certain benefit ''and the Lender requests'', it has to pass over that benefit. Best illustrated by way of example: |