Template:GMSLA 2000 8.4: Difference between revisions

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{{gmslaprov|8.4}} '''{{gmslaprov|Redelivery of Equivalent Collateral on termination of a Loan}}''' <br>
{{gmsla2000prov|8.4}} '''{{gmsla2000prov|Redelivery of Equivalent Collateral on termination of a Loan}}''' <br>


On the date and time that {{gmslaprov|Equivalent Securities}} are required to be redelivered by {{gmslaprov|Borrower}} on the termination of a {{gmslaprov|Loan}}, {{gmslaprov|Lender}} shall simultaneously (subject to paragraph {{gmslaprov|5.4}} if applicable) repay to {{gmslaprov|Borrower}} any {{gmslaprov|Cash Collateral}} or, as the case may be, redeliver {{gmslaprov|Collateral}} [[equivalent]] to the {{gmslaprov|Collateral}} provided by {{gmslaprov|Borrower}} pursuant to paragraph {{gmslaprov|5}} in respect of such {{gmslaprov|Loan}}. [[For the avoidance of doubt]] any reference in this {{gmslaprov|Agreement}} or in any other agreement or communication between the {{gmslaprov|Parties}} (however expressed) to an obligation to redeliver or account for or act in relation to {{gmslaprov|Collateral}} shall accordingly be construed as a reference to an obligation to redeliver or account for or act in relation to {{gmslaprov|Equivalent Collateral}}. <br>
On the date and time that {{gmsla2000prov|Equivalent Securities}} are required to be redelivered by {{gmsla2000prov|Borrower}} on the termination of a {{gmsla2000prov|Loan}}, {{gmsla2000prov|Lender}} shall simultaneously (subject to paragraph {{gmsla2000prov|5.4}} if applicable) repay to {{gmsla2000prov|Borrower}} any {{gmsla2000prov|Cash Collateral}} or, as the case may be, redeliver {{gmsla2000prov|Collateral}} [[equivalent]] to the {{gmsla2000prov|Collateral}} provided by {{gmsla2000prov|Borrower}} pursuant to paragraph {{gmsla2000prov|5}} in respect of such {{gmsla2000prov|Loan}}. [[For the avoidance of doubt]] any reference in this {{gmsla2000prov|Agreement}} or in any other agreement or communication between the {{gmsla2000prov|Parties}} (however expressed) to an obligation to redeliver or account for or act in relation to {{gmsla2000prov|Collateral}} shall accordingly be construed as a reference to an obligation to redeliver or account for or act in relation to {{gmsla2000prov|Equivalent Collateral}}. <br>

Latest revision as of 09:08, 4 November 2021

8.4 Redelivery of Equivalent Collateral on termination of a Loan

On the date and time that Equivalent Securities are required to be redelivered by Borrower on the termination of a Loan, Lender shall simultaneously (subject to paragraph 5.4 if applicable) repay to Borrower any Cash Collateral or, as the case may be, redeliver Collateral equivalent to the Collateral provided by Borrower pursuant to paragraph 5 in respect of such Loan. For the avoidance of doubt any reference in this Agreement or in any other agreement or communication between the Parties (however expressed) to an obligation to redeliver or account for or act in relation to Collateral shall accordingly be construed as a reference to an obligation to redeliver or account for or act in relation to Equivalent Collateral.

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