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Template:GMSLA 2010 11.5: Difference between revisions
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{{gmslaprov|11.5}}. If, acting in [[good faith]], either <br> | :{{gmslaprov|11.5}}. If, acting in [[good faith]], either <br> | ||
:(A) the {{gmslaprov|Non Defaulting Party}} has endeavoured but been unable to sell or purchase securities in accordance with paragraph {{gmslaprov|11.4(a)}} above or to obtain quotations in accordance with paragraph {{gmslaprov|11.4(b)}} above (or both) or <br> | ::(A) the {{gmslaprov|Non Defaulting Party}} has endeavoured but been unable to sell or purchase securities in accordance with paragraph {{gmslaprov|11.4(a)}} above or to obtain quotations in accordance with paragraph {{gmslaprov|11.4(b)}} above (or both) or <br> | ||
:(B) the {{gmslaprov|Non Defaulting Party}} has determined that it would not be [[commercially reasonable]] to sell or purchase securities at the prices [[bid]] or offered or to obtain such quotations, or that it would not be commercially reasonable to use any quotations which it has obtained under paragraph {{gmslaprov|11.4(b)}} above the {{gmslaprov|Non Defaulting Party}} may determine the {{gmslaprov|Net Value}} of the relevant {{gmslaprov|Equivalent}} {{gmslaprov|Securities}} or {{gmslaprov|Equivalent}} {{gmslaprov|Collateral}} (which [[shall]] be specified) and the {{gmslaprov|Non Defaulting Party}} may elect to treat such {{gmslaprov|Net Value}} as the {{gmslaprov|Default Market Value}} of the relevant {{gmslaprov|Equivalent}} {{gmslaprov|Securities}} or {{gmslaprov|Equivalent}} {{gmslaprov|Collateral}}. <br> | ::(B) the {{gmslaprov|Non Defaulting Party}} has determined that it would not be [[commercially reasonable]] to sell or purchase securities at the prices [[bid]] or offered or to obtain such quotations, or that it would not be commercially reasonable to use any quotations which it has obtained under paragraph {{gmslaprov|11.4(b)}} above the {{gmslaprov|Non Defaulting Party}} may determine the {{gmslaprov|Net Value}} of the relevant {{gmslaprov|Equivalent}} {{gmslaprov|Securities}} or {{gmslaprov|Equivalent}} {{gmslaprov|Collateral}} (which [[shall]] be specified) and the {{gmslaprov|Non Defaulting Party}} may elect to treat such {{gmslaprov|Net Value}} as the {{gmslaprov|Default Market Value}} of the relevant {{gmslaprov|Equivalent}} {{gmslaprov|Securities}} or {{gmslaprov|Equivalent}} {{gmslaprov|Collateral}}. <br> | ||