Template:M comp disc Pledge GMSLA 10: Difference between revisions
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In the {{pgmsla}} we wave good by to the {{gmsla}}’s {{gmslaprov|Automatic Early Termination}} provision — which was only really there to slake the consciences of those worried that netting might not work. In a pledged security arrangement, it is | [[10 - Pledge GMSLA Provision|In]] the {{pgmsla}} we wave good by to the {{gmsla}}’s {{gmslaprov|Automatic Early Termination}} provision — which was only really there to slake the consciences of those worried that netting might not work. In a pledged security arrangement, it is much more old-fashioned and traditional; you’re not really relying on the cute, clever-dickish type of [[close-out netting]] that is so warily eyed by ruddy-cheeked German insolvency administrators, no no need for an [[AET]]-35 unit. | ||
To compensate, there’s a new “breach of security agreement” {{pgmslaprov|Event of Default}} at {{pgmslaprov|10. | To compensate, there’s a new “breach of security agreement” {{pgmslaprov|Event of Default}} at {{pgmslaprov|10.1(j)}}. Which is nice. | ||
Latest revision as of 10:18, 25 June 2020
In the 2018 Pledge GMSLA we wave good by to the 2010 GMSLA’s Automatic Early Termination provision — which was only really there to slake the consciences of those worried that netting might not work. In a pledged security arrangement, it is much more old-fashioned and traditional; you’re not really relying on the cute, clever-dickish type of close-out netting that is so warily eyed by ruddy-cheeked German insolvency administrators, no no need for an AET-35 unit.
To compensate, there’s a new “breach of security agreement” Event of Default at 10.1(j). Which is nice.