Template:Nutshell GMSLA 9.2: Difference between revisions
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Latest revision as of 14:59, 7 September 2018
9.2 Lender’s failure to deliver Equivalent Collateral: If Lender fails to deliver Equivalent Non Cash Collateral on termination of a Loan (See 8.4), Borrower may:
- 9.2(a) continue the Loan; or
- 9.2(b) terminate the Loan under paragraph 11.2 by written notice to Lender, as if:
- (i) an Event of Default had occurred to the Lender;
- (ii) the Termination Date were the date of such written notice, and
- (iii) the Loan were the only Loan outstanding.
However this will not be an Event of Default.