Clause Library & Taxonomy Subgroup Additional Clauses Survey

As one of the actions from the Clause Library & Taxonomy working group discussions, ISLA is looking to select a number of additional clauses to add to our scope so that the Global Master Securities Lending Agreement (GMSLA) is materially complete in the current phase.

The following survey includes additional clauses under consideration. To take part, please provide your feedback by indicating the frequency with which you use the listed clauses.

The survey will remain open for submissions until 23 April 2021.

The results of the survey will be presented and discussed at a future Clause Library & Taxonomy working group meeting.

If you have any questions, or require any assistance completing the survey, please contact us.

Clause Taxonomy and Library Additional Clauses Survey

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Additional Clauses Under Consideration
Please select the frequency with which you use the following listed clauses.
Margin Threshold / Minimum Collateral Transfer Amount*
Clause stating a number below which collateral transfers do not need to be made. (Indicative Definition)
Triparty Services*
Clause setting out the intention to enter into a triparty service agreement and in some cases the details of such arrangement. (Indicative Definition)
Delivery*
Clauses relating to the delivery of securities and collateral including the timing. (Indicative Definition)
Assets transferred to a Trustee*
Amending a 2010 Version to have the equivalent Event of Default from the 2000 Version. Relates to assets of investor being transferred to a trustee by regulatory authority. (Indicative Definition)
Suspension Event of Default*
Clause amending the 2010 GMSLA to have the same suspension clause effectively removing the caveat that "in each case on the grounds that it has failed to meet any requirements relating to financial resources or credit rating;“. (Indicative Definition)
Anti-Avoidance*
Representation from the parties that they are not entering into the Agreement and any Loans for the purposes of avoiding any tax. (Indicative Definition)
Sovereign Immunity*
Clause amending the standard Waiver of Sovereign Immunity clause such as asserting a party’s right to rely upon sovereign immunity. (Indicative Definition)
Address for Notices*
The contact details for notices under the agreement which is incorporated with the Designated Offices election in the Schedule. (Indicative Definition)
Addendum for Pooled Principal Transactions*
Clause to specify whether the Addendum for Pooled Principal Agency Loans may apply to a party. (Indicative Definition)
Collateral Transfer Details*
Clause providing the standard settlement instructions for collateral transfers. (Indicative Definition)
Paragraph 11.2(a)*
With reference to the determination of Market Value post Event of Default, includes the fallback methods in the reference. (Indicative Definition)
Failure to Deliver*
Removing the event of default for a Lender failing to deliver securities on the due date. – Only applies to the 2000 Version. (Indicative Definition)
Currency Conversion*
Clause amending the source of the FX rate in the currency conversion clause. (Indicative Definition)
Costs and Expenses*
Including exchange / clearing fees in relation to delivery failure / Buy In. (Indicative Definition)
Corporate Actions*
Clauses relating to Corporate Actions. (Indicative Definition)
Records and Statements*
Clause setting out the record keeping requirements of the parties. (Indicative Definition)
Confidentiality and Non Disclosure*
Confidentiality and Non Disclosure Clauses. (Indicative Definition)
Other (please specify):
Other
(As described above).

Clause Library & Taxonomy Subgroup Additional Clauses Survey

Clause Taxonomy and Library Additional Clauses Survey

Contact Details

Additional Clauses Under Consideration