Interest on Outstanding Payments - GMSLA Provision: Difference between revisions
Amwelladmin (talk | contribs) No edit summary |
Amwelladmin (talk | contribs) No edit summary |
||
(7 intermediate revisions by the same user not shown) | |||
Line 1: | Line 1: | ||
{{ | {{Manual|MSG|2010|15|Clause|15|medium}} | ||
Latest revision as of 11:54, 26 April 2021
2010 Global Master Securities Lending Agreement
Clause 15 in a Nutshell™ Use at your own risk, campers!
Full text of Clause 15
Related agreements and comparisons
|
Content and comparisons
Clause 15 of the 2010 GMSLA is identical to Clause 15 of the 2018 Pledge GMSLA. Note the sneaky reference to the default interest rate drafting in Clause 11.7, which falls back to — dramatic look gopher — LIBOR, and means that 11.7 isn’t, after all, restricted only to professional fees. This is absolutely dreadful drafting from ISLA’s crack drafting squad™.