Template:Gmsla 11.2 comp

Redlines

2010 ⇒ 2018: Redline of the 2010 GMSLA vs. the 2018 Pledge GMSLA: comparison (and in reverse)

Discussion

The 2010 GMSLA has three trailing paragraphs about how to play Letters of Credit. Seeing as Letters of Credit are not a viable form of Collateral in an agent lending arrangement, they are not replicated in the 2018 Pledge GMSLA.

Other changes to Paragraph 11.2 reflect the pledged nature of the collateral: As the Lender retains title and the custodian control of the {{{{{1}}}|Collateral}} at all times, a failure to return it is not an {{{{{1}}}|Event of Default}}.