tiktok���˰�

The Master Securities Lending Agreement (MSLA) under Belgian law serves as the primary contractual framework for securities lending transactions in the Belgian market, while ensuring compliance with broader European Union regulations. This document is essential for financial institutions engaged in securities lending activities, providing comprehensive coverage of loan terms, collateral arrangements, rights and obligations of parties, and regulatory requirements. It is specifically designed to accommodate Belgian legal requirements while incorporating EU-wide regulations such as SFTR, EMIR, and MiFID II/MiFIR. The agreement is typically used by institutional investors, banks, and financial intermediaries operating in or through Belgium, and includes provisions for both domestic and cross-border transactions. The document structure reflects the sophisticated nature of securities lending operations and includes detailed schedules for operational procedures, eligible securities, and collateral requirements.

1. Parties: Identification of the lender and borrower, including their legal status and registered addresses

2. Background: Context of the agreement and general purpose of the securities lending arrangement

3. Definitions: Comprehensive definitions of terms used throughout the agreement, including Belgian law-specific terminology

4. Loans of Securities: Core provisions governing the lending and borrowing of securities, including initiation and confirmation processes

5. Delivery of Securities: Procedures and requirements for the delivery of loaned securities

6. Collateral Requirements: Specifications for acceptable collateral, valuation methods, and maintenance requirements

7. Margin Maintenance: Procedures for calculating and maintaining required margin levels

8. Income Payments and Corporate Actions: Treatment of dividends, interest, and other corporate actions affecting loaned securities

9. Rates and Fees: Lending fees, rates, and payment arrangements

10. Return of Securities: Procedures and timing for returning borrowed securities

11. Events of Default: Definition of default events and consequences

12. Tax Provisions: Treatment of tax obligations and withholding requirements under Belgian law

13. Representations and Warranties: Standard representations and warranties of both parties

14. Covenants: Ongoing obligations of the parties

15. Indemnification: Indemnification obligations and limitations

16. Termination: Conditions and procedures for termination of the agreement

17. Notices: Communication requirements and procedures

18. Governing Law and Jurisdiction: Specification of Belgian law as governing law and jurisdiction provisions