|
|
| (3 intermediate revisions by the same user not shown) |
| Line 1: |
Line 1: |
| {{gmslaanat|27.5}} | | {{Manual|MSG|2010|27.5|Clause|28.4|short}} |
| Classic over-communication from {{islacds}. Nothing in the {{gmsla}} says you ''can’t'' use a third party vendor,</ref>In Mike’s immortal words from the [[I never said you couldn’t|Nasty]] episode, “Well it wouldn’t, would it? I mean, it doesn’t say “ensure you don’t chop up your video machine with an axe, put all the bits in a plastic bag and bung them down the lavatory.”</ref> and there are no confidentiality provisions, so plainly, this clause is not needed.
| |
| | |
| ''“But [[it won’t hurt]] to include it”'', that drafting squadmust have thought.
| |
| | |
| Nor will painting a live camel with lentil soup.
| |
| | |
| But what it ''might'' do is cause confusion, angst, and alarm among the [[legal eagles]] staffing the [[negotiation]], which in itself might prolong your agony for months. I am not just saying that. We know of one [[negotiation]] where the last outstanding point — for eight months, apparently — was “can we add a requirement for the mutual consent of both parties before anyone appoints a third party vendor?”
| |
| | |
| Sigh. In this day and age, third party vendors (the likes of MarkIt, Equilend, Thompson Reuters and so on) are a baked-in feature of the stock loan market. This is a bit like requiring consent from your car vendor before taking it to a service station for petrol.
| |
| | |
| {{islacds}} might think on this from a [[behavioural economics]] perspective: If this clause did not exist, no-one would imagine it needed limiting: it doesn’t say anywhere that you ''can’t'' use a third party vendor if that’s what you want to do, and, in the world of commerce, provided you don’t transgress your positive [[contractual obligation|contractual obligations]], you are free to do as you please. But, by saying it, you ask a silly question and invite a silly answer. Few assiduous attorneys will pass up the free opportunity to give one of those.
| |
| | |
| {{Seealso}}
| |
| *[[I never said you couldn’t]]
| |
| *[[Video nasty]]
| |
| *[[If in doubt, stick it in]]
| |
| {{ref}}
| |