Template:OSLA 1995 Recital: Difference between revisions
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'''[[Recital - OSLA Provision|Whereas]]''':- <br> | '''[[Recital - OSLA Provision|Whereas]]''':- <br> | ||
:1. The {{oslaprov|Parties}} hereto are desirous of agreeing a procedure whereby either one of them (the | :1. The {{oslaprov|Parties}} hereto are desirous of agreeing a procedure whereby either one of them (the '''{{oslaprov|Lender}}''') will make available to the other of them (the '''{{oslaprov|Borrower}}''') [[from time to time]] {{oslaprov|Securities}} (as hereinafter defined) in order to enable the {{oslaprov|Borrower}}, subject to any Inland Revenue provisions then in force, to fulfil a {{t|contract}} to sell such {{oslaprov|Securities}} or to on-lend such {{oslaprov|Securities}} to a third party to enable such party to fulfil a {{t|contract}} to sell such {{oslaprov|Securities}}, whether or not as part of a chain of arrangements to enable the final party in such chain to fulfil a {{t|contract}} to sell such {{oslaprov|Securities}} or to replace an existing loan of {{oslaprov|Securities}} to such third party, or for other purposes. <br> | ||
:2. All transactions carried out under this {{oslaprov|Agreement}} will be effected in accordance with the {{oslaprov|Rules}} (as hereinafter defined) TOGETHER WITH current market practices, customs and conventions. <br> | :2. All transactions carried out under this {{oslaprov|Agreement}} will be effected in accordance with the {{oslaprov|Rules}} (as hereinafter defined) TOGETHER WITH current market practices, customs and conventions. <br> | ||
Revision as of 15:58, 27 November 2019
Whereas:-
- 1. The Parties hereto are desirous of agreeing a procedure whereby either one of them (the Lender) will make available to the other of them (the Borrower) from time to time Securities (as hereinafter defined) in order to enable the Borrower, subject to any Inland Revenue provisions then in force, to fulfil a contract to sell such Securities or to on-lend such Securities to a third party to enable such party to fulfil a contract to sell such Securities, whether or not as part of a chain of arrangements to enable the final party in such chain to fulfil a contract to sell such Securities or to replace an existing loan of Securities to such third party, or for other purposes.
- 2. All transactions carried out under this Agreement will be effected in accordance with the Rules (as hereinafter defined) TOGETHER WITH current market practices, customs and conventions.