Template:GMSLA 2010 7.2: Difference between revisions
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{{gmslaprov|7.2}} {{gmslaprov|Rates in respect of Cash Collateral}} | {{gmslaprov|7.2}}. '''{{gmslaprov|Rates in respect of Cash Collateral}}''': Where {{gmslaprov|Cash Collateral}} is deposited with {{gmslaprov|Lender}} in respect of any {{gmslaprov|Loan}}, {{gmslaprov|Lender}} shall pay to {{gmslaprov|Borrower}}, in the manner prescribed in paragraph {{gmslaprov|7.3}}, sums calculated by applying such rates as shall be agreed between the {{gmslaprov|Parties}} from time to time to the amount of such {{gmslaprov|Cash Collateral}}. Any such payment due to {{gmslaprov|Borrower}} may be set off against any payment due to Lender pursuant to paragraph {{gmslaprov|7.1}}.<br /> | ||
Where {{gmslaprov|Cash Collateral}} is deposited with {{gmslaprov|Lender}} in respect of any {{gmslaprov|Loan}}, {{gmslaprov|Lender}} shall pay to {{gmslaprov|Borrower}}, in the manner prescribed in paragraph {{gmslaprov|7.3}}, sums calculated by applying such rates as shall be agreed between the {{gmslaprov|Parties}} from time to time to the amount of such {{gmslaprov|Cash Collateral}}. Any such payment due to {{gmslaprov|Borrower}} may be set off against any payment due to Lender pursuant to paragraph {{gmslaprov|7.1}}.<br /> | |||
Latest revision as of 10:49, 7 July 2020
7.2. Rates in respect of Cash Collateral: Where Cash Collateral is deposited with Lender in respect of any Loan, Lender shall pay to Borrower, in the manner prescribed in paragraph 7.3, sums calculated by applying such rates as shall be agreed between the Parties from time to time to the amount of such Cash Collateral. Any such payment due to Borrower may be set off against any payment due to Lender pursuant to paragraph 7.1.