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| {{pgmslaprov|8}} '''{{pgmslaprov|Delivery of Equivalent Securities}}''' <br> | | {{pgmslaprov|8}} '''{{pgmslaprov|Delivery of Equivalent Securities}}''' <br> |
| {{pgmslaprov|8.1}} '''{{pgmslaprov|Lender’s right to terminate a Loan}}''' <br> | | {{Pledge GMSLA 2018 8.1}} |
| :Subject to paragraph 11 and the terms of the relevant {{pgmslaprov|Loan}}, {{pgmslaprov|Lender}} shall be entitled to terminate a {{pgmslaprov|Loan}} and to call for the {{pgmslaprov|Delivery}} of all or any {{pgmslaprov|Equivalent}} {{pgmslaprov|Securities}} at any time by giving notice on any {{pgmslaprov|Business Day}} of not less than the standard settlement time for such {{pgmslaprov|Equivalent}} {{pgmslaprov|Securities}} on the exchange or in the clearing organisation through which the {{pgmslaprov|Loaned Securities}} were originally delivered. Borrower shall deliver such {{pgmslaprov|Equivalent}} {{pgmslaprov|Securities}} not later than the expiry of such notice in accordance with {{pgmslaprov|Lender}}'s instructions.
| | {{Pledge GMSLA 2018 8.2}} |
| {{pgmslaprov|8.2}} '''{{pgmslaprov|Borrower’s right to terminate a Loan}}''' <br>
| | {{Pledge GMSLA 2018 8.3}} |
| :Subject to the terms of the relevant {{pgmslaprov|Loan}}, Borrower shall be entitled at any time to terminate a {{pgmslaprov|Loan}} and to deliver all and any {{pgmslaprov|Equivalent}} {{pgmslaprov|Securities}} due and outstanding to {{pgmslaprov|Lender}} in accordance with {{pgmslaprov|Lender}}'s instructions and {{pgmslaprov|Lender}} shall accept such {{pgmslaprov|Delivery}}.
| | {{Pledge GMSLA 2018 8.4}} |
| {{pgmslaprov|8.3}} '''{{pgmslaprov|Non-Defaulting Party’s right to terminate all Loans}}''' <br> | |
| :If any of the events specified in sub-paragraphs (a) to (j) inclusive of paragraph 10.1 has occurred and is continuing and provided always that no {{pgmslaprov|Event of Default}} has occurred, and notwithstanding the scheduled termination dates of the relevant {{pgmslaprov|Loan}}s, the {{pgmslaprov|Non-Defaulting Party}} shall be entitled on any {{pgmslaprov|Business Day}} to terminate all {{pgmslaprov|Loan}}s by giving written notice to {{pgmslaprov|Defaulting Party}} of such election under this paragraph 8.3 and, where the {{pgmslaprov|Non-Defaulting Party}} gives such a notice, (i) each such {{pgmslaprov|Loan}} will terminate on the expiry of the standard settlement time commencing on the date on which the {{pgmslaprov|Non-Defaulting Party}}'s notice was given and Borrower will, in respect of each such {{pgmslaprov|Loan}}, not later than such expiration date deliver {{pgmslaprov|Equivalent}} {{pgmslaprov|Securities}} in respect of the relevant {{pgmslaprov|Loan}} to {{pgmslaprov|Lender}} in accordance with {{pgmslaprov|Lender}}'s instruction and (ii) any amounts accrued under paragraph 7 shall be accelerated and immediately payable. [[For the avoidance of doubt]], if Borrower fails to deliver {{pgmslaprov|Equivalent}} {{pgmslaprov|Securities}} in accordance with this paragraph, {{pgmslaprov|Lender}} will be entitled to exercise the remedies provided to it in paragraph {{pgmslaprov|9.1}}.
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| {{pgmslaprov|8.4}} '''{{pgmslaprov|Delivery of Equivalent Securities on termination of a Loan}}''' | |
| :Upon termination of a {{pgmslaprov|Loan}}, whether pursuant to any of paragraph {{pgmslaprov|8.1}} to {{pgmslaprov|8.3}} or otherwise in accordance with this Agreement and the terms of the relevant {{pgmslaprov|Loan}}, Borrower shall procure the {{pgmslaprov|Delivery}} of {{pgmslaprov|Equivalent}} {{pgmslaprov|Securities}} to {{pgmslaprov|Lender}} or deliver {{pgmslaprov|Equivalent}} {{pgmslaprov|Securities}}, such {{pgmslaprov|Delivery}} to be effected in accordance with this Agreement and the terms of the relevant {{pgmslaprov|Loan}}. [[For the avoidance of doubt]] any reference in this Agreement or in any other agreement or communication between the Parties (howsoever expressed) to an obligation to deliver or account for or act in relation to {{pgmslaprov|Loaned Securities}} shall accordingly be construed as a reference to an obligation to deliver or account for or act in relation to {{pgmslaprov|Equivalent}} {{pgmslaprov|Securities}}.
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