Template:Nutshell GMSLA 10.1(d): Difference between revisions

Latest revision as of 15:01, 1 August 2019

10.1(d) Act of Insolvency: An Act of Insolvency occurring to Lender or Borrower. If Automatic Early Termination applies, if anyone presents a winding up petition or appoints a liquidator, it will be an Automatic Early Termination and the Non Defaulting Party need not serve written notice.

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	{{gmslaprov\|10.1(d)}} '''~~{{gmslaprov~~\|Act of Insolvency}}''': An {{gmslaprov\|Act of Insolvency}} occurring to {{gmslaprov\|Lender}} or {{gmslaprov\|Borrower}}. If {{gmslaprov\|Automatic Early Termination}} applies, if anyone presents a winding up petition or appoints a liquidator, it will be an {{gmslaprov\|Automatic Early Termination}} and the {{gmslaprov\|Non Defaulting Party}} need not serve written notice. <br>		{{gmslaprov\|10.1(d)}} '''[[10.1(d) - GMSLA Provision\|Act of Insolvency]]''': An {{gmslaprov\|Act of Insolvency}} occurring to {{gmslaprov\|Lender}} or {{gmslaprov\|Borrower}}. If {{gmslaprov\|Automatic Early Termination}} applies, if anyone presents a winding up petition or appoints a liquidator, it will be an {{gmslaprov\|Automatic Early Termination}} and the {{gmslaprov\|Non Defaulting Party}} need not serve written notice. <br>