Template:GMSLA 2010 7.3: Difference between revisions
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Amwelladmin (talk | contribs) Created page with "{{gmslaprov|7.3}} '''{{gmslaprov|Payment of rates}}'''<br /> In respect of each {{gmslaprov|Loan}}, the payments referred to in paragraph {{gmslaprov|7.1}} and {{gmslaprov|7.2..." |
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{{gmslaprov|7.3}} '''{{gmslaprov|Payment of rates}}''' | {{gmslaprov|7.3}} '''{{gmslaprov|Payment of rates}}''': In respect of each {{gmslaprov|Loan}}, the payments referred to in paragraph {{gmslaprov|7.1}} and {{gmslaprov|7.2}} shall accrue daily in respect of the period commencing on and inclusive of the {{gmslaprov|Settlement Date}} and terminating on and exclusive of the {{gmslaprov|Business Day}} upon which {{gmslaprov|Equivalent}} {{gmslaprov|Securities}} are delivered or {{gmslaprov|Cash Collateral}} is repaid. Unless otherwise agreed, the sums so accruing in respect of each calendar month shall be paid in arrears by the relevant {{gmslaprov|Party}} not later than the {{gmslaprov|Business Day}} which is the tenth {{gmslaprov|Business Day}} after the last {{gmslaprov|Business Day}} of the calendar month to which such payments relate or such other date as the {{gmslaprov|Parties}} shall [[from time to time]] agree. <br /> | ||
In respect of each {{gmslaprov|Loan}}, the payments referred to in paragraph {{gmslaprov|7.1}} and {{gmslaprov|7.2}} shall accrue daily in respect of the period commencing on and inclusive of the {{gmslaprov|Settlement Date}} and terminating on and exclusive of the {{gmslaprov|Business Day}} upon which {{gmslaprov|Equivalent}} {{gmslaprov|Securities}} are delivered or {{gmslaprov|Cash Collateral}} is repaid. Unless otherwise agreed, the sums so accruing in respect of each calendar month shall be paid in arrears by the relevant {{gmslaprov|Party}} not later than the {{gmslaprov|Business Day}} which is the tenth {{gmslaprov|Business Day}} after the last {{gmslaprov|Business Day}} of the calendar month to which such payments relate or such other date as the {{gmslaprov|Parties}} shall [[from time to time]] agree. <br /> | |||
Latest revision as of 10:50, 7 July 2020
7.3 Payment of rates: In respect of each Loan, the payments referred to in paragraph 7.1 and 7.2 shall accrue daily in respect of the period commencing on and inclusive of the Settlement Date and terminating on and exclusive of the Business Day upon which Equivalent Securities are delivered or Cash Collateral is repaid. Unless otherwise agreed, the sums so accruing in respect of each calendar month shall be paid in arrears by the relevant Party not later than the Business Day which is the tenth Business Day after the last Business Day of the calendar month to which such payments relate or such other date as the Parties shall from time to time agree.