Template:GMSLA 2010 12.7: Difference between revisions
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{{gmslaprov|12.7}} 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: <br> | {{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: <br> | ||
:(a) any retrospective change in {{gmslaprov|Applicable Law}} which is announced or enacted after the date of the relevant payment; or <br> | :(a) any retrospective change in {{gmslaprov|Applicable Law}} which is announced or enacted after the date of the relevant payment; or <br> | ||
:(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}}). <br> | :(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}}). <br> | ||
Latest revision as of 15:39, 9 October 2017
12.7. Retrospective changes in law: Unless otherwise agreed, amounts payable by one Party to another under this Agreement shall be determined by reference to Applicable Law as at the date of the relevant payment and no adjustment shall be made to amounts paid under this Agreement as a result of:
- (a) any retrospective change in Applicable Law which is announced or enacted after the date of the relevant payment; 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 Agreement or amounts paid or payable under this Agreement).