Template:Nutshell GMSLA 12.7: Difference between revisions

Latest revision as of 17:46, 19 January 2021

12.7 Retrospective changes in law: Amounts payable under this Agreement must determined by reference to Applicable Law when the payment is made, and must not be adjusted for:

(a) any retrospectives change in Applicable Law enacted after the relevant payment date; or

(b) any court decision made after the relevant payment date (other that one specifically concerning this Agreement).

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-{{gmslaprov|12.7}} '''{{gmslaprov|Retrospective changes in law}}''': Unless otherwise agreed, amounts payable by one {{gmslaprov|Party}} to another under this {{gmslaprov|Agreement}} shall be determined by reference to {{gmslaprov|Applicable Law}} as at the date of the relevant payment and no adjustment shall be made to amounts paid under this {{gmslaprov|Agreement}} as a result of:
+{{gmslaprov|12.7}} '''{{gmslaprov|Retrospective changes in law}}''': Amounts payable  under this {{gmslaprov|Agreement}} must determined by reference to {{gmslaprov|Applicable Law}} when the payment is made, and must not be adjusted for:
-:(a) any retrospective change in {{gmslaprov|Applicable Law}} which is announced or enacted after the date of the relevant payment; or
+:(a) any retrospectives change in {{gmslaprov|Applicable Law}} enacted after the relevant payment date; or
-:(b) any decision of a court of competent jurisdiction which is made after the date of the relevant payment (other than where such decision results from an action taken with respect to this {{gmslaprov|Agreement}} or amounts paid or payable under this {{gmslaprov|Agreement}}).
+:(b) any court decision made after the relevant payment date (other that one specifically concerning this {{gmslaprov|Agreement}}). <br>