Template:Gmsla 6 summ pgmslaprov

Under 6.1 a Borrower of Securities must “manufacture” payments equal to Income received on those Securities and pay them to the Lender.

Under 6.2 Income in the form of Securities is rolled up into the Loan and not redelivered immediately.

Under 6.3 unless otherwise required, a Borrower is not obliged to vote shares on behalf of the Lender.

Under 6.4, however, where a Borrower acquires rights as a result of any corporate action or takeover, (including those requiring specific elections by the holder for the time being), upon Lender’s request Borrower must return Equivalent Securities “in such form as would arise if exercised”.