Template:Nutshell GMSLA 11.7: Difference between revisions
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{{gmslaprov|11.7}} '''{{gmslaprov|Costs and expenses following an Event of Default}}''' | :{{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. | ||
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 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 12:31, 8 March 2018
- 11.7 Costs and expenses following an Event of Default: The Defaulting Party will be liable for all reasonable professional expenses the Non Defaulting Party incurs because of an Event of Default plus interest at a 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.