Template:GMSLA 2010 6.4: Difference between revisions

:Unless paragraph 1.6 of the {{gmslaprov|Schedule}} indicates that this paragraph does not apply, where:

::(a) prior to any {{gmslaprov|Income Record Date}} in relation to {{gmslaprov|Non Cash Collateral}}, Borrower has in accordance with paragraph {{gmslaprov|5.3}} called for the {{gmslaprov|Delivery}} of {{gmslaprov|Equivalent}} {{gmslaprov|Non Cash Collateral}}; <br>

::(b) {{gmslaprov|Borrower}} has given notice of such call to {{gmslaprov|Lender}} so as to be effective, at the latest, five hours before the {{gmslaprov|Close of Business}} on the last {{gmslaprov|Business Day}} on which {{gmslaprov|Lender}} would customarily be required to initiate settlement of the {{gmslaprov|Non Cash Collateral}} to enable settlement to take place on the {{gmslaprov|Business Day}} immediately preceding the relevant {{gmslaprov|Income Record Date}};

::(c) {{gmslaprov|Borrower}} has provided reasonable details to {{gmslaprov|Lender}} of the {{gmslaprov|Non Cash Collateral}}, the relevant {{gmslaprov|Income Record Date}} and the proposed {{gmslaprov|Alternative Collateral}};

::(d) {{gmslaprov|Lender}}, acting reasonably, has determined that such {{gmslaprov|Alternative Collateral}} is acceptable to it and {{gmslaprov|Borrower}} shall have delivered or delivers such {{gmslaprov|Alternative Collateral}} to {{gmslaprov|Lender}}; and

::(e) {{gmslaprov|Lender}} has failed to make reasonable efforts to transfer {{gmslaprov|Equivalent}} {{gmslaprov|Non Cash Collateral}} to {{gmslaprov|Borrower}} prior to such {{gmslaprov|Income Record Date}},

:{{gmslaprov|Lender}} shall indemnify {{gmslaprov|Borrower}} in respect of any cost, loss or damage (excluding any indirect or consequential loss or damage or any amount otherwise compensated by {{gmslaprov|Lender}}, including pursuant to paragraphs {{gmslaprov|6.3}} and/or {{gmslaprov|9.3}}) suffered by {{gmslaprov|Borrower}} that it would not have suffered had the relevant {{gmslaprov|Equivalent}} {{gmslaprov|Non Cash Collateral}} been transferred to {{gmslaprov|Borrower}} prior to such {{gmslaprov|Income Record Date}}. <br>