Template:M comp disc GMSLA 3

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The 2018 Pledge GMSLA introduces some rather uncontroversial conditions precedent, since there is no a title transfer of collatertal and the Lender really is taking on the Borrower’s credit exposure (albeit secured) on the Collateral that it would be delivered in a 2010 GMSLA).

That the Borrower is not suffering an actual or potential Event of Default, and that it has actually delivered Collateral to the tri-party agent.