83,240
edits
Amwelladmin (talk | contribs) No edit summary |
Amwelladmin (talk | contribs) No edit summary |
||
(One intermediate revision by the same user not shown) | |||
Line 1: | Line 1: | ||
{{gmslaprov|9.1}} '''{{gmslaprov|Borrower}}’s failure to deliver {{gmslaprov|Equivalent}} {{gmslaprov|Securities}} ''' | {{gmslaprov|9.1}} '''{{gmslaprov|Borrower}}’s failure to deliver {{gmslaprov|Equivalent}} {{gmslaprov|Securities}} ''': If {{gmslaprov|Borrower}} doesn’t deliver {{gmslaprov|Equivalent}} {{gmslaprov|Securities}} under para {{gmslaprov|8.3}} Lender may: | ||
If {{gmslaprov|Borrower}} doesn’t deliver {{gmslaprov|Equivalent}} {{gmslaprov|Securities}} under para {{gmslaprov|8.3}} Lender may: | |||
:(a) continue the {{gmslaprov|Loan}}; or | :(a) continue the {{gmslaprov|Loan}}; or | ||
:(b) terminate the individual {{gmslaprov|Loan}} per para {{gmslaprov|11.2}} as if the {{gmslaprov|Borrower}} was subject to an {{gmslaprov|Event of Default}} but the {{gmslaprov|Loan}} were the only outstanding {{gmslaprov|Loan}}. Notwithstanding the above such a failure | :(b) terminate the individual {{gmslaprov|Loan}} per para {{gmslaprov|11.2}} as if the {{gmslaprov|Borrower}} was subject to an {{gmslaprov|Event of Default}} but the {{gmslaprov|Loan}} were the only outstanding {{gmslaprov|Loan}}. | ||
Notwithstanding the above, such a failure will '''not''' be an {{gmslaprov|Event of Default}}. <br> |