Template:Pledge GMSLA 2018 4.2

4.2 Requirements to effect Delivery
The Parties shall execute and deliver all necessary documents and give all necessary instructions to procure that all right, title and interest in:

4.2(a) any Securities borrowed pursuant to paragraph 3;

4.2(b) any Equivalent Securities delivered pursuant to paragraph 8;

shall pass from one Party to the other subject to the terms and conditions set out in this Agreement, on Delivery of the same in accordance with this Agreement with full title guarantee, free from all liens, charges and encumbrances. In the case of Securities or Equivalent Securities title to which is registered in a computer-based system which provides for the recording and transfer of title to the same by way of book entries, Delivery and transfer of title shall take place in accordance with the rules and procedures of such system as in force from time to time. Borrower acquiring such right, title and interest shall have no obligation to return or deliver any of the assets so acquired but shall be obliged, subject to the terms of this Agreement, to deliver Equivalent Securities.