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Substitutions of Collateral - GMSLA Provision: Difference between revisions
Substitutions of Collateral - GMSLA Provision (view source)
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, 13 November 2013→Commentary
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{{gmslasnap|5.3}} | {{gmslasnap|5.3}} | ||
====Commentary==== | ====Commentary==== | ||
Unlike the {{csa}}, a Borrower under the {{gmsla}} can require a Lender to switch Collateral posted to it with Alterntative Collateral (provided it is acceptable to the Lender, which it will be if it meets the definition of Collateral and is listed in Schedule 1). By contrast under the CSA, a switch of posted collateral requires the consent of the holding party. | |||
====Related Provisions==== | ====Related Provisions==== | ||