Redelivery of Equivalent Securities - OSLA Provision: Difference between revisions

Latest revision as of 10:37, 28 November 2019

OSLA Anatomy™

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-{{1995 OSLA Section 7 TOC}}
+{{a|osla|{{1995 OSLA Section 7 TOC}}}}
-{{oslasnap|7}}
-====Commentary====
-See Clause {{gmslaprov|8.3}} and {{gmslaprov|8.4}} of the {{tag|GMSLA}} by way of comparison, and also Clause {{gmslaprov|9}} which deals with the “mini-closeout” right upon a Party's {{gmslaprov|Failure to Deliver Equivalent Securities}} or {{gmslaprov|Failure to Deliver Equivalent Collateral}}.
-Clause {{oslaprov|7(C)}} of the OSLA operates in much the same way as the “mini-closeout”, by permitting a Non-Defaulting Party to determine a value of each Loan as the difference between the value of the opposing legs of the trade.
-====Related Provisions====
-*{{gmsla}} Paragraphs {{gmslaprov|8}} and {{gmslaprov|9}}.
-{{oslaanatomy}}