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10(a)(ix) - GMRA Provision: Difference between revisions
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{{ | {{gmraanat|10(a)(ix)}} | ||
You may see a request to modify this event to add the portion in bold: | You may see a request to modify this event to add the portion in bold: | ||
:''{{gmraprov|10(a)(ix)}} {{gmraprov|Seller}} or {{gmraprov|Buyer}} is suspended or expelled from membership of or participation in any securities exchange or association or other self-regulating organisation, or suspended from dealing in securities by any government agency '''and the effect of such suspension or expulsion is that the relevant party can no longer fulfil its obligations under this Agreement''', or any of the assets of either {{gmraprov|Seller}} or {{gmraprov|Buyer}} or the assets of investors held by, or to the order of, {{gmraprov|Seller}} or {{gmraprov|Buyer}} are transferred or ordered to be transferred to a trustee by a regulatory authority pursuant to any securities regulating legislation and the {{gmraprov|Defaulting Party}} serves a {{gmraprov|Default Notice}} on the {{gmraprov|Defaulting Party}}; or'' <br> | |||
You night want to reference it somehow to "... the effect of such suspension or expulsion is to have a materially adverse effect on the relevant party’s ability to fulfil ..." - this would pull in not just "impossibility" style events, but also compromised creditworthiness etc. | You night want to reference it somehow to "... the effect of such suspension or expulsion is to have a materially adverse effect on the relevant party’s ability to fulfil ..." - this would pull in not just "impossibility" style events, but also compromised creditworthiness etc. | ||