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Waiver of Immunity - GMSLA Provision: Difference between revisions
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{{gmslaanat|26}} | {{gmslaanat|26}} | ||
[[Sovereign immunity]] is a particular issue in an [[agency lending]] arrangement because: | [[Sovereign immunity]] is a particular issue in an [[agency lending]] arrangement because: | ||
*Structurally, sovereigns will tend to be lenders in an agency set up | *Structurally, sovereigns will tend to be [[Agent lender|lenders]] in an [[Agent lending|agency]] set up | ||
*The Borrower [[title transfer]]s away a bigger slug of {{gmslaprov|collateral}} away than it borrows from the sovereign {{gmslaprov|Lender}}. | *The {{gmslaprov|Borrower}} [[title transfer]]s away a bigger slug of {{gmslaprov|collateral}} away than it borrows from the sovereign {{gmslaprov|Lender}}. | ||
*At any point, should the [[Sovereign]] decide to play [[who’s Queen]], the | *At any point, should the [[Sovereign]] decide to play [[who’s Queen]], the {{gmslaprov|Borrower}} is in the hole for 5. | ||
Interestingly, a [[pledge GMSLA]] might fix this problem by never transferring collateral to the Sovereign in the first place. | Interestingly, a [[pledge GMSLA]] might fix this problem by never transferring collateral to the Sovereign in the first place. | ||
{{contractual waiver of sovereign immunity}} | |||
{{seealso}} | {{seealso}} | ||
*[[Sovereign immunity]] | *[[Sovereign immunity]] | ||
*[[Waiver of Immunity - Pledge GMSLA Provision]] | *[[Waiver of Immunity - Pledge GMSLA Provision]] | ||