Template:Gmsla 3 comp

Redlines

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

Discussion

The 2018 Pledge GMSLA introduces some rather uncontroversial conditions precedent, since there is no a title transfer of collateral and the {{{{{1}}}|Lender}} really is taking on the {{{{{1}}}|Borrower}}’s credit exposure (albeit secured) on the {{{{{1}}}|Collateral}} whereas it would be outright delivered under a normal 2010 GMSLA).

That the Borrower is not suffering an actual or potential Event of Default, and that it has actually delivered Collateral to the tri-party agent.