Nominee - GMSLA Provision

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2010 Global Master Securities Lending Agreement
A Jolly Contrarian owner’s manual

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Stock Loan owner’s manuals: 2010 GMSLA · 2000 GMSLA · Pledge GMSLA · OSLA

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GMSLA

Clause Nominee in a Nutshell
Use at your own risk, campers!

Nominee means an agent a Party appoints to hold its Securities or Collateral or to handle its payments;
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Full text of Clause Nominee

Nominee means a nominee or agent appointed by either Party to accept delivery of, hold or deliver Securities, Equivalent Securities, Collateral and/or Equivalent Collateral or to receive or make payments on its behalf;
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Related agreements and comparisons

Related agreements: Click here for the same clause in the 2018 Pledge GMSLA
Related agreements: Click here for the same clause in the 1995 OSLA
Comparison: There is no equivalent provision in the other version of the GMSLA.
Comparison: Template:Osladiff Nominee

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Content and comparisons

Template:M comp disc GMSLA Nominee
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Summary

Not quite the same as a custody nominee — this is more a lazy reference to the general case of an agent or custodian who handles assets and payments on your behalf. Usually a “nominee” is a more technical term for the entity a custodian or broker/dealer uses to hold client assets entrusted to it for custody, thereby keeping them utterly segregated from the broker’s own assets.
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See also

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References