GMSLA Anatomy™
In a Nutshell™ Clause 27.4:
27.4 Supercession: Where this paragraph applies, from the date of this Agreement it will apply to all outstanding loans entered into under the securities lending agreements specified in the Schedule as if they had been entered into under this Agreement.
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2010 GMSLA full text of Clause 27.4:
27.4 The Parties agree that where paragraph 11 of the Schedule indicates that this paragraph 27.4 applies, this Agreement shall apply to all loans which are outstanding as at the date of this Agreement and which are subject to the securities lending agreement or agreements specified in paragraph 11 of the Schedule, and such Loans shall be treated as if they had been entered into under this Agreement, and the terms of such loans are amended accordingly with effect from the date of this Agreement.
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