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Template:GMSLA 2000 5.4: Difference between revisions
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{{gmslaprov|5.4}} '''{{gmslaprov|Marking to Market of Collateral during the currency of a Loan on aggregated basis}}''' | {{gmslaprov|5.4}} '''{{gmslaprov|Marking to Market of Collateral during the currency of a Loan on aggregated basis}}''' | ||
Unless paragraph {{gmslaprov|1.3}} of the Schedule indicates that paragraph {{gmslaprov|5.5}} shall apply in lieu of this paragraph {{gmslaprov|5.4}}, or unless otherwise agreed between the Parties:- <br> | Unless paragraph {{gmslaprov|1.3}} of the Schedule indicates that paragraph {{gmslaprov|5.5}} shall apply in lieu of this paragraph {{gmslaprov|5.4}}, or unless otherwise agreed between the Parties:- <br> | ||
:(i) the aggregate {{gmslaprov|Market Value}} of the {{gmslaprov|Collateral}} delivered to or deposited with {{gmslaprov|Lender}} (excluding any {{gmslaprov|Equivalent Collateral}} repaid or redelivered under Paragraphs {{gmslaprov|5.4(ii)}} or {{gmslaprov|5.5(ii)}} (as the case may be)) (“'''{{gmslaprov|Posted Collateral}}'''”) in respect of all {{gmslaprov|Loan}}s outstanding under this {{gmslaprov|Agreement}} shall equal the aggregate of the {{gmslaprov|Market Value}} of the {{gmslaprov|Loaned Securities}} and the applicable {{gmslaprov|Margin}} (the “{{gmslaprov|Required Collateral Value}}”) in respect of such {{gmslaprov|Loan}}s; <br> | :(i) the aggregate {{gmslaprov|Market Value}} of the {{gmslaprov|Collateral}} delivered to or deposited with {{gmslaprov|Lender}} (excluding any {{gmslaprov|Equivalent Collateral}} repaid or redelivered under Paragraphs {{gmslaprov|5.4(ii)}} or {{gmslaprov|5.5(ii)}} (as the case may be)) (“'''{{gmslaprov|Posted Collateral}}'''”) in respect of all {{gmslaprov|Loan}}s outstanding under this {{gmslaprov|Agreement}} shall equal the aggregate of the {{gmslaprov|Market Value}} of the {{gmslaprov|Loaned Securities}} and the applicable {{gmslaprov|Margin}} (the “'''{{gmslaprov|Required Collateral Value}}'''”) in respect of such {{gmslaprov|Loan}}s; <br> | ||
:(ii) if at any time on any {{gmslaprov|Business Day}} the aggregate {{gmslaprov|Market Value}} of the {{gmslaprov|Posted Collateral}} in respect of all {{gmslaprov|Loan}}s outstanding under this {{gmslaprov|Agreement}} exceeds the aggregate of the {{gmslaprov|Required Collateral Value}}s in respect of such {{gmslaprov|Loan}}s, {{gmslaprov|Lender}} shall (on demand) repay [[and/or]] redeliver. as the case may be, to {{gmslaprov|Borrower}} such {{gmslaprov|Equivalent}} {{gmslaprov|Collateral}} as will eliminate the excess; <br> | :(ii) if at any time on any {{gmslaprov|Business Day}} the aggregate {{gmslaprov|Market Value}} of the {{gmslaprov|Posted Collateral}} in respect of all {{gmslaprov|Loan}}s outstanding under this {{gmslaprov|Agreement}} exceeds the aggregate of the {{gmslaprov|Required Collateral Value}}s in respect of such {{gmslaprov|Loan}}s, {{gmslaprov|Lender}} shall (on demand) repay [[and/or]] redeliver. as the case may be, to {{gmslaprov|Borrower}} such {{gmslaprov|Equivalent}} {{gmslaprov|Collateral}} as will eliminate the excess; <br> | ||
:(iii) if at any time on any {{gmslaprov|Business Day}} the aggregate {{gmslaprov|Market Value}} of the {{gmslaprov|Posted Collateral}} in respect of all {{gmslaprov|Loan}}s outstanding under this {{gmslaprov|Agreement}} falls below the aggregate of {{gmslaprov|Required Collateral Value}}s in respect of all such {{gmslaprov|Loan}}s, {{gmslaprov|Borrower}} shall (on demand) provide such further {{gmslaprov|Collateral}} to {{gmslaprov|Lender}} as will eliminate the deficiency.<br> | :(iii) if at any time on any {{gmslaprov|Business Day}} the aggregate {{gmslaprov|Market Value}} of the {{gmslaprov|Posted Collateral}} in respect of all {{gmslaprov|Loan}}s outstanding under this {{gmslaprov|Agreement}} falls below the aggregate of {{gmslaprov|Required Collateral Value}}s in respect of all such {{gmslaprov|Loan}}s, {{gmslaprov|Borrower}} shall (on demand) provide such further {{gmslaprov|Collateral}} to {{gmslaprov|Lender}} as will eliminate the deficiency.<br> | ||