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Template:Nutshell 2000 GMSLA 5.5: Difference between revisions
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{{gmsla2000prov|5.5}} '''{{gmsla2000prov|Marking to Market of Collateral during the currency of a Loan on a Loan by Loan basis}}'''<br> | {{gmsla2000prov|5.5}} '''{{gmsla2000prov|Marking to Market of Collateral during the currency of a Loan on a Loan by Loan basis}}'''<br> | ||
Where the parties agree in {{ | Where the parties agree in {{gmsla2000prov|1.3}} of the Schedule that they will mark {{gmsla2000prov|Collateral}} to market {{gmsla2000prov|Loan}}-by-{{gmsla2000prov|Loan}} under this paragraph (and not on an aggregated basis under paragraph {{gmsla2000prov|5.4}}) the {{gmsla2000prov|Posted Collateral}} for any {{gmsla2000prov|Loan}} must always bear same proportion to the {{gmsla2000prov|Market Value}} of the {{gmsla2000prov|Loaned Securities}} as it did when the {{gmsla2000prov|Loan}} started. Therefore: | ||
:(i) the {{gmsla2000prov|Market Value}} of the required {{gmsla2000prov|Posted Collateral}} during the {{gmsla2000prov|Loan}} continues will equal the {{gmsla2000prov|Required Collateral Value}}; | :(i) the {{gmsla2000prov|Market Value}} of the required {{gmsla2000prov|Posted Collateral}} during the {{gmsla2000prov|Loan}} continues will equal the {{gmsla2000prov|Required Collateral Value}}; | ||
:(ii) if on any {{gmsla2000prov|Business Day}} the {{gmsla2000prov|Market Value}} of any such {{gmsla2000prov|Posted Collateral}} ''exceeds'' the {{gmsla2000prov|Required Collateral Value}} for the same {{gmsla2000prov|Loan}}, {{gmsla2000prov|Lender}} must return to {{gmsla2000prov|Borrower}} enough {{gmsla2000prov|Equivalent}} {{gmsla2000prov|Collateral}} eliminate the excess on demand; and | :(ii) if on any {{gmsla2000prov|Business Day}} the {{gmsla2000prov|Market Value}} of any such {{gmsla2000prov|Posted Collateral}} ''exceeds'' the {{gmsla2000prov|Required Collateral Value}} for the same {{gmsla2000prov|Loan}}, {{gmsla2000prov|Lender}} must return to {{gmsla2000prov|Borrower}} enough {{gmsla2000prov|Equivalent}} {{gmsla2000prov|Collateral}} eliminate the excess on demand; and | ||
:(iii} if on any {{gmsla2000prov|Business Day}} the {{gmsla2000prov|Market Value}} of the {{gmsla2000prov|Posted Collateral}} falls below the {{gmsla2000prov|Required Collateral Value}}, {{gmsla2000prov|Borrower}} must provide further {{gmsla2000prov|Collateral}} to {{gmsla2000prov|Lender}} to eliminate the deficiency, on demand. | :(iii} if on any {{gmsla2000prov|Business Day}} the {{gmsla2000prov|Market Value}} of the {{gmsla2000prov|Posted Collateral}} falls below the {{gmsla2000prov|Required Collateral Value}}, {{gmsla2000prov|Borrower}} must provide further {{gmsla2000prov|Collateral}} to {{gmsla2000prov|Lender}} to eliminate the deficiency, on demand. | ||