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Failure to pay Collateral - GMSLA Provision: Difference between revisions
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Failure to pay Collateral - GMSLA Provision (view source)
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{{comm}} | {{comm}} | ||
{{nuts|GMSLA|10.1(a)}} | {{nuts|GMSLA|10.1(a)}} | ||
===Commentary=== | |||
There are great tails of worthy fellows around the market trying to tweak this provision just in case, by oversight, it doesn't cater for redelivery of collateral. Life isn't quite that long. | |||
But if you do need a reason, it comes down to the explanation below on the meaning of "equivalent" in the {{2010gmsla}}. Since it is a outright title transfer agreement, and not really a loan, nothing is ever "repaid" or "redelivered". All obvligations are primary obligations. | |||
If you need a more visceral argument (sometimes useful for more pointy-headed negotiators) try "get a life". | |||
===GMSLA Equivalence=== | ===GMSLA Equivalence=== | ||
{{gmsla equivalence}} | {{gmsla equivalence}} | ||
====See Also==== | ====See Also==== | ||
{{gmslaanatomy}} | {{gmslaanatomy}} | ||