Template:Nutshell GMSLA 5.6: Difference between revisions
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Where {{gmslaprov|Collateral}} values are aggregated under paragraph {{gmslaprov|5.4}} and, on a given day, both Parties would otherwise have to deliver {{gmslaprov|Collateral}} to each other, then those respective {{gmslaprov|Market Value}}s will be {{tag|set-off}} and, in full settlement of both parties' obligations, the {{gmslaprov|Party}} having the larger delivery obligation must deliver {{gmslaprov|Collateral}} having a {{gmslaprov|Market Value}} equal to the difference. | {{gmslaprov|5.6}}: Where {{gmslaprov|Collateral}} values are aggregated under paragraph {{gmslaprov|5.4}} and, on a given day, both Parties would otherwise have to deliver {{gmslaprov|Collateral}} to each other, then those respective {{gmslaprov|Market Value}}s will be {{tag|set-off}} and, in full settlement of both parties' obligations, the {{gmslaprov|Party}} having the larger delivery obligation must deliver {{gmslaprov|Collateral}} having a {{gmslaprov|Market Value}} equal to the difference. | ||
Revision as of 11:26, 2 February 2016
5.6: Where Collateral values are aggregated under paragraph 5.4 and, on a given day, both Parties would otherwise have to deliver Collateral to each other, then those respective Market Values will be set-off and, in full settlement of both parties' obligations, the Party having the larger delivery obligation must deliver Collateral having a Market Value equal to the difference.