Interpretation (Agency Addendum) - GMSLA Provision: Difference between revisions

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	{{fullanat\|gmsla\|Interpretation (Agency Addendum)\|2010}}		{{fullanat\|gmsla\|Interpretation (Agency Addendum)\|2010}}
	A scholar will note that the ~~definitions bit~~ of this interpretation section is surplus to requirements, since it merely fingerpost to other parts of the Addendum. Which leaves the vexed question of ~~what on earth~~ (b) ~~means~~. ~~and why it~~ is ~~(b)~~ and ~~not (a)~~, ~~(d), or even 2.2~~.		A scholar will note that the most of this interpretation section is surplus to requirements, since it merely fingerpost to other parts of the Addendum. Which leaves the vexed question of (b). This is the definition of {{gmslaprov\|Net Loan Exposure}}. This is designed to capture the overall exposure as between the Borrower and any ''one'' {{gmslaprov\|Principal}} in the {{gmslaprov\|Agent Lender}}’s portfolio, across all {{gmslaprov\|Loans}} between those two.