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Template:GTMA Master Agreement 2004 12.3: Difference between revisions
Template:GTMA Master Agreement 2004 12.3 (view source)
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{{gtmaprov|12.3}} '''{{gtmaprov|Termination Right}}'''<br> | {{gtmaprov|12.3}} '''{{gtmaprov|Termination Right}}'''<br> | ||
{{gtmaprov|12.3.1}} If, at any time, an {{gtmaprov|Event of Default}} has occurred and is continuing, the {{gtmaprov|Non-Defaulting Party}} may, designate a day as an early termination date (the | {{gtmaprov|12.3.1}} If, at any time, an {{gtmaprov|Event of Default}} has occurred and is continuing, the {{gtmaprov|Non-Defaulting Party}} may, designate a day as an early termination date (the “'''{{gtmaprov|Early Termination Date}}'''") in respect of all outstanding {{gtmaprov|Transactions}} between the {{gtmaprov|Parties}} by giving not more than 20 days' notice to the {{gtmaprov|Defaulting Party}}. This notice shall specify the relevant {{gtmaprov|Event of Default}}. The {{gtmaprov|Early Termination Date}} may not be earlier than the day the notice is effective. <br> | ||
{{gtmaprov|12.3.2}} The right under clause 12.3.1 is in addition to any other remedies available under this {{gtmaprov|Agreement}} or at law.<br> | {{gtmaprov|12.3.2}} The right under clause {{gtmaprov|12.3.1}} is in addition to any other remedies available under this {{gtmaprov|Agreement}} or at law.<br> | ||
{{gtmaprov|12.3.3}} The notice of the {{gtmaprov|Early Termination Date}} may be made by telephone if that notice is confirmed in writing within 2 {{gtmaprov|Banking Day}}s.<br> | {{gtmaprov|12.3.3}} The notice of the {{gtmaprov|Early Termination Date}} may be made by telephone if that notice is confirmed in writing within 2 {{gtmaprov|Banking Day}}s.<br> | ||