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{{2010 GMSLA Section 6 TOC}} | {{2010 GMSLA Section 6 TOC}} | ||
This section deals with the rights of parties with regard to " | This section deals with the rights of parties with regard to "their” {{gmslaprov|Securities}} and {{gmslaprov|Collateral}} while it is "out on loan". In a {{nutshell}}: | ||
*Under {{gmslaprov|6.2}} a {{gmslaprov|Borrower}} of {{gmslaprov|Securities}} must " | *Under {{gmslaprov|6.2}} a {{gmslaprov|Borrower}} of {{gmslaprov|Securities}} must "manufacture” payments equal to {{gmslaprov|Income}} received on those {{gmslaprov|Securities}} and pay it to the {{gmslaprov|Lender}}; | ||
*Under {{gmslaprov|6.3}} a {{gmslaprov|Lender}} holding {{gmslaprov|Non Cash Collateral}} for a {{gmslaprov|Loan}} must " | *Under {{gmslaprov|6.3}} a {{gmslaprov|Lender}} holding {{gmslaprov|Non Cash Collateral}} for a {{gmslaprov|Loan}} must "manufacture” payments equal to {{gmslaprov|Income}} received on that {{gmslaprov|Collateral}} and pay it to the {{gmslaprov|Borrower}}; | ||
*Under {{gmslaprov|6.4}} the {{gmslaprov|Lender}} indemnifies the {{gmslaprov|Borrower}} for failing to redeliver {{gmslaprov|Equivalent}} {{gmslaprov|Non Cash Collateral}}; | *Under {{gmslaprov|6.4}} the {{gmslaprov|Lender}} indemnifies the {{gmslaprov|Borrower}} for failing to redeliver {{gmslaprov|Equivalent}} {{gmslaprov|Non Cash Collateral}}; | ||
*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; |