2010 Global Master Securities Lending Agreement
A Jolly Contrarian owner’s manual
Resources and navigation
Clause 16 in a Nutshell™
Use at your own risk, campers!
Full text of Clause 16
Related agreements and comparisons
Content and comparisons
There is a difference: first, curiously, the 2018 Pledge GMSLA inserts the right to terminate the entry into of further Loan under this Agreement — a genuine “WTF” moment there, since there is no obligation to enter into any Loan at any time that you don’t want to anyway — and the second is to add a chicken-lickenish statement of the bleeding obvious that if one terminates the Agreement that doesn’t whip away the rug from under your carefully constructed the security arrangements — at least not until you’ve sorted out the outstanding Loans and returned whatever you have borrowed.