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:''{{GMSLA 2010 Income}}'' | :''{{GMSLA 2010 Income}}'' | ||
Here, the drafting should say " | Here, the drafting should say "...distributions of any kind whatsoever<ref>Actually, in the [[JC]]'s view this is also unintentially wide and really ought to be “...or other ''similar'' distributions”. See {{gmslaprov|Income}} for more [[tedious]] discussion on this fascinating topic.</ref> paid '''[[under]]''' the {{gmslaprov|Securities}} or {{gmslaprov|Collateral}}. | ||
Distributions paid with respect to the {{gmslaprov|Securities}} could include amounts paid by unreleted third parties that reference the {{gmslaprov|Securities}}: you know, like [[derivative]] payments. Payments that could be levered, or modified, but none theless paid by reference to the shares themselves. So that would be bad. | Distributions paid ''[[with respect to]]'' the {{gmslaprov|Securities}} could include amounts paid by unreleted third parties that reference the {{gmslaprov|Securities}}: you know, like [[derivative]] payments. Payments on [[Credit Event - Credit Derivative Provision|Credit Event]]s, where the underlier has blown up. Payments that could be [[Leverage|levered]], or modified, but none theless paid by reference to the shares themselves. So that would be bad. Borrowers of stock loans have no intention to manufacture these kinds of payments. | ||
{{sa}} | {{sa}} | ||
*[[Governing law]] | *[[Governing law]] |