Template:Nutshell 2016 CSA 4(b): Difference between revisions

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{{vmcsaprov|4(b)}} '''{{vmcsaprov|No Event of Default}}'''. A Party’s failure to transfer any amount which it disputes under Paragraph {{vmcsaprov|4(a)}} will not be an {{isdaprov|Event of Default}} while the dispoute resolutiuon procedures are in train. Once they are completed a continuing failure to transfer after the due date set out in Paragraph {{vmcsaprov|4(a)}} will be a {{isdaprov|Failure to Pay or Deliver}} under Section {{isdaprov|5(a)(i)}}. <br>
{{vmcsaprov|4(b)}} '''{{vmcsaprov|No Event of Default}}'''. A Party’s failure to meet a collateral call which it is disputing under Paragraph {{vmcsaprov|4(a)}} will not be an {{isdaprov|Event of Default}} while the dispute resolution procedures are in train. Once completed, of course, a failure to transfer by the due date will again be a {{isdaprov|Failure to Pay or Deliver}}. <br>

Latest revision as of 23:37, 31 December 2019

4(b) No Event of Default. A Party’s failure to meet a collateral call which it is disputing under Paragraph 4(a) will not be an Event of Default while the dispute resolution procedures are in train. Once completed, of course, a failure to transfer by the due date will again be a Failure to Pay or Deliver.

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