Template:Gmsla Agency Annex summ

This is the Annex referred to in the definitions section:

Agency Annex means the Annex to this Agreement published by the International Securities Lending Association and providing for Lender to act as agent for a third party in respect of one or more Loans;

This applies where you the arrangement being documented is an agent lending arrangement: essentually a wealth manager, as agent, hawking out its customers’ long collateral into the stock loan market to earn its customers fees and itself some additional commission.