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Template:GMSLA 2010 Market Value: Difference between revisions
Template:GMSLA 2010 Market Value (view source)
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, 5 October 2017Amwelladmin moved page Template:2010 GMSLA Market Value to Template:GMSLA 2010 Market Value
Amwelladmin (talk | contribs) (Created page with "'''{{gmslaprov|Market Value}}''' means: <br> :(a) in relation to the valuation of {{gmslaprov|Securities}}, Equivalent Securities, Collateral or Equivalent Collateral (other t...") |
Amwelladmin (talk | contribs) m (Amwelladmin moved page Template:2010 GMSLA Market Value to Template:GMSLA 2010 Market Value) |
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::(i) such price as is equal to the market quotation for the mid price of such Securities, {{gmslaprov|Equivalent Securities}}, {{gmslaprov|Collateral}} and/or {{gmslaprov|Equivalent}} {{gmslaprov|Collateral}} as derived from a reputable pricing information service reasonably chosen in good faith by {{gmslaprov|Lender}}; or <br> | ::(i) such price as is equal to the market quotation for the mid price of such Securities, {{gmslaprov|Equivalent Securities}}, {{gmslaprov|Collateral}} and/or {{gmslaprov|Equivalent}} {{gmslaprov|Collateral}} as derived from a reputable pricing information service reasonably chosen in good faith by {{gmslaprov|Lender}}; or <br> | ||
::(ii) if unavailable the market value thereof as derived from the mid price or rate bid by a reputable dealer for the relevant instrument reasonably chosen in good faith by {{gmslaprov|Lender}}, <br> | ::(ii) if unavailable the market value thereof as derived from the mid price or rate bid by a reputable dealer for the relevant instrument reasonably chosen in good faith by {{gmslaprov|Lender}}, <br> | ||
:in each case at {{gmslaprov|Close of Business}} on the previous {{gmslaprov|Business Day}}, or as specified in the {{gmslaprov|Schedule}}, unless agreed otherwise or, at the option of either {{gmslaprov|Party}} where in its reasonable opinion there has been an exceptional movement in the price of the asset in question since such time, the latest available price, plus (in each case): <br> | ::in each case at {{gmslaprov|Close of Business}} on the previous {{gmslaprov|Business Day}}, or as specified in the {{gmslaprov|Schedule}}, unless agreed otherwise or, at the option of either {{gmslaprov|Party}} where in its reasonable opinion there has been an exceptional movement in the price of the asset in question since such time, the latest available price, plus (in each case): <br> | ||
::(iii) the aggregate amount of {{gmslaprov|Income}} which has accrued but not yet been paid in respect of the {{gmslaprov|Securities}}, {{gmslaprov|Equivalent}} {{gmslaprov|Securities}}, {{gmslaprov|Collateral}} or {{gmslaprov|Equivalent}} {{gmslaprov|Collateral}} concerned to the extent not included in such price, <br> | ::(iii) the aggregate amount of {{gmslaprov|Income}} which has accrued but not yet been paid in respect of the {{gmslaprov|Securities}}, {{gmslaprov|Equivalent}} {{gmslaprov|Securities}}, {{gmslaprov|Collateral}} or {{gmslaprov|Equivalent}} {{gmslaprov|Collateral}} concerned to the extent not included in such price, <br> | ||
:provided that the price of {{gmslaprov|Securities}}, {{gmslaprov|Equivalent}} {{gmslaprov|Securities}}, {{gmslaprov|Collateral}} or {{gmslaprov|Equivalent}} {{gmslaprov|Collateral}} that are suspended or that cannot legally be transferred or that are transferred or required to be transferred to a government, trustee or third party (whether by reason of nationalisation, expropriation or otherwise) shall for all purposes be a commercially reasonable price agreed between the {{gmslaprov|Parties}}, or absent agreement, be a price provided by a third party dealer agreed between the {{gmslaprov|Parties}}, or if the {{gmslaprov|Parties}} do not agree a third party dealer then a price based on quotations provided by the {{gmslaprov|Reference Dealers}}. If more than three quotations are provided, the {{gmslaprov|Market Value}} will be the arithmetic mean of the prices, without regard to the quotations having the highest and lowest prices. If three quotations are provided, the {{gmslaprov|Market Value}} will be the quotation remaining after disregarding the highest and lowest quotations. For this purpose, if more than one quotation has the same highest or lowest price, then one of such quotations shall be disregarded. If fewer than three quotations are provided, the {{gmslaprov|Market Value}} of the relevant {{gmslaprov|Securities}}, {{gmslaprov|Equivalent}} {{gmslaprov|Securities}}, {{gmslaprov|Collateral}} or {{gmslaprov|Equivalent}} {{gmslaprov|Collateral}} shall be determined by the {{ | :provided that the price of {{gmslaprov|Securities}}, {{gmslaprov|Equivalent}} {{gmslaprov|Securities}}, {{gmslaprov|Collateral}} or {{gmslaprov|Equivalent}} {{gmslaprov|Collateral}} that are suspended or that cannot legally be transferred or that are transferred or required to be transferred to a government, trustee or third party (whether by reason of nationalisation, expropriation or otherwise) shall for all purposes be a commercially reasonable price agreed between the {{gmslaprov|Parties}}, or absent agreement, be a price provided by a third party dealer agreed between the {{gmslaprov|Parties}}, or if the {{gmslaprov|Parties}} do not agree a third party dealer then a price based on quotations provided by the {{gmslaprov|Reference Dealers}}. If more than three quotations are provided, the {{gmslaprov|Market Value}} will be the arithmetic mean of the prices, without regard to the quotations having the highest and lowest prices. If three quotations are provided, the {{gmslaprov|Market Value}} will be the quotation remaining after disregarding the highest and lowest quotations. For this purpose, if more than one quotation has the same highest or lowest price, then one of such quotations shall be disregarded. If fewer than three quotations are provided, the {{gmslaprov|Market Value}} of the relevant {{gmslaprov|Securities}}, {{gmslaprov|Equivalent}} {{gmslaprov|Securities}}, {{gmslaprov|Collateral}} or {{gmslaprov|Equivalent}} {{gmslaprov|Collateral}} shall be determined by the {{gmslaprov|Party}} making the determination of {{gmslaprov|Market Value}} acting reasonably; <br> | ||
:(b) in relation to a {{gmslaprov|Letter of Credit}} the face or stated amount of such {{gmslaprov|Letter of Credit}}; and <br> | :(b) in relation to a {{gmslaprov|Letter of Credit}} the face or stated amount of such {{gmslaprov|Letter of Credit}}; and <br> | ||
:(c) in relation to {{gmslaprov|Cash Collateral}} the amount of the currency concerned; <br> | :(c) in relation to {{gmslaprov|Cash Collateral}} the amount of the currency concerned; <br> | ||