Template:M summ GMSLA 11.8

The ISDA Master Agreement famously got its set-off clause wrong, forgetting that the Early Termination Amount might not be the only amount owing the same way, to be set off against amounts owed elsewhere in the transacting universe the other way. since ISLA’s crack drafting squad™ was cribbing from its homework, we see a similar problem here, although the stock loan market is a bit more blasé about it, in that is seems not to bother with the fix most people apply to the ISDA.