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Default interest - GMRA Provision: Difference between revisions
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{{ | {{manual|MSG|2010|10(f)|Clause||medium}}Compare with Clause {{gmraprov|4(f)}}, which is the standard interest payable on the cash leg of a {{gmraprov|Transaction}}. | ||
This is ''default'' [[interest]], where things have gone Pete Tong for one party and the other has referred matters to its learned friends. In theory, this provision references the dreaded [[LIBOR]] — cue obligatory reference to the [[dramatic look gopher]] — and is thus in scope for [[LIBOR]] remediation, but in practice the question is this: | This is ''default'' [[interest]], where things have gone Pete Tong for one party and the other has referred matters to its learned friends. In theory, this provision references the dreaded [[LIBOR]] — cue obligatory reference to the [[dramatic look gopher]] — and is thus in scope for [[LIBOR]] remediation, but in practice the question is this: | ||
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===[[DLG]]=== | ===[[DLG]]=== | ||
And now: A quick [[dramatic look gopher]]. | And now: A quick [[dramatic look gopher]]. | ||
[[File:Dramatic | [[File:Dramatic Look Gopher.gif|150px|frameless|center]] | ||
{{sa}} | {{sa}} | ||
*Clause {{gmraprov|4(f)}} — {{gmraprov|Interest on Cash Margin}} | *Clause {{gmraprov|4(f)}} — {{gmraprov|Interest on Cash Margin}} | ||
*Clause {{gmslaprov|11.7}}, being the equivalent provision in the {{gmsla}} | *Clause {{gmslaprov|11.7}}, being the equivalent provision in the {{gmsla}} | ||
*[[LIBOR]] | *[[LIBOR]] | ||