Global Master Repurchase Agreement (GMRA)

A global agreement for use when parties may enter into transactions in which one party (a “Seller”), acting through a Designated Office, agrees to sell to the other (a “Buyer”), acting through a Designated Office, securities and financial instruments against the payment of the purchase price by the Buyer to the Seller, with a simultaneous agreement by the Buyer to sell to the Seller securities equivalent to such securities at a date certain or on demand against the payment of the repurchase price by the Seller to the Buyer. Updated 2011