Template:Nutshell GMSLA 11.7: Difference between revisions

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:{{gmslaprov|11.7}} '''{{gmslaprov|Costs and expenses following an Event of Default}}''': The {{gmslaprov|Defaulting Party}} will be liable for all reasonable professional expenses the {{gmslaprov|Non Defaulting Party}} incurs because of an {{gmslaprov|Event of Default}} plus [[interest]] at a rate agreed by the {{gmslaprov|Parties}} or failing that, the overnight [[LIBOR]] rate as at 11.00 a.m., London time.  [[Interest]] will accrue and compound daily.
:{{gmslaprov|11.7}} '''{{gmslaprov|Costs and expenses following an Event of Default}}''': The {{gmslaprov|Defaulting Party}} must pay the {{gmslaprov|Non-Defaulting Party}}’s reasonable professional expenses in connection with the {{gmslaprov|Event of Default}} plus [[interest]] at the rate agreed by the {{gmslaprov|Parties}} or failing that, the overnight [[LIBOR]] rate as at 11.00 a.m., London time.  [[Interest]] will accrue and compound daily.

Revision as of 09:40, 24 June 2020

11.7 Costs and expenses following an Event of Default: The Defaulting Party must pay the Non-Defaulting Party’s reasonable professional expenses in connection with the Event of Default plus interest at the rate agreed by the Parties or failing that, the overnight LIBOR rate as at 11.00 a.m., London time. Interest will accrue and compound daily.
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