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Template:GMSLA 2010 11.6: Difference between revisions
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{{gmslaprov|11.6}} To the extent that the {{gmslaprov|Non Defaulting Party}} has not determined the {{gmslaprov|Default Market Value}} in accordance with paragraph 11.4, the Default Market Value of the relevant {{gmslaprov|Equivalent}} {{gmslaprov|Securities}} or {{gmslaprov|Equivalent}} {{gmslaprov|Collateral}} shall be an amount equal to their {{gmslaprov|Net Value}} at the {{gmslaprov|Default Valuation Time}}; provided that, if at the {{gmslaprov|Default Valuation Time}} the {{gmslaprov|Non Defaulting Party}} reasonably determines that, owing to circumstances affecting the market in the {{gmslaprov|Equivalent}} {{gmslaprov|Securities}} or {{gmslaprov|Equivalent}} {{gmslaprov|Collateral}} in question, it is not reasonably practicable for the {{gmslaprov|Non Defaulting Party}} to determine a {{gmslaprov|Net Value}} of such {{gmslaprov|Equivalent}} {{gmslaprov|Securities}} or {{gmslaprov|Equivalent}} {{gmslaprov|Collateral}} which is [[commercially reasonable]] (by reason of lack of tradable prices or otherwise), the {{gmslaprov|Default Market Value}} of such {{gmslaprov|Equivalent}} {{gmslaprov|Securities}} or {{gmslaprov|Equivalent}} {{gmslaprov|Collateral}} shall be an amount equal to their {{gmslaprov|Net Value}} as determined by the {{gmslaprov|Non Defaulting Party}} as soon as reasonably practicable after the {{gmslaprov|Default Valuation Time}}. <br> | :{{gmslaprov|11.6}} To the extent that the {{gmslaprov|Non Defaulting Party}} has not determined the {{gmslaprov|Default Market Value}} in accordance with paragraph {{gmslaprov|11.4}}, the {{gmslaprov|Default Market Value}} of the relevant {{gmslaprov|Equivalent}} {{gmslaprov|Securities}} or {{gmslaprov|Equivalent}} {{gmslaprov|Collateral}} shall be an amount equal to their {{gmslaprov|Net Value}} at the {{gmslaprov|Default Valuation Time}}; provided that, if at the {{gmslaprov|Default Valuation Time}} the {{gmslaprov|Non Defaulting Party}} reasonably determines that, owing to circumstances affecting the market in the {{gmslaprov|Equivalent}} {{gmslaprov|Securities}} or {{gmslaprov|Equivalent}} {{gmslaprov|Collateral}} in question, it is not reasonably practicable for the {{gmslaprov|Non Defaulting Party}} to determine a {{gmslaprov|Net Value}} of such {{gmslaprov|Equivalent}} {{gmslaprov|Securities}} or {{gmslaprov|Equivalent}} {{gmslaprov|Collateral}} which is [[commercially reasonable]] (by reason of lack of tradable prices or otherwise), the {{gmslaprov|Default Market Value}} of such {{gmslaprov|Equivalent}} {{gmslaprov|Securities}} or {{gmslaprov|Equivalent}} {{gmslaprov|Collateral}} shall be an amount equal to their {{gmslaprov|Net Value}} as determined by the {{gmslaprov|Non Defaulting Party}} as soon as reasonably practicable after the {{gmslaprov|Default Valuation Time}}. <br> | ||