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| {{manual|MSG|2010|10.1(f)|Clause||medium}}Compare with Clause {{gmraprov|4(f)}}, which is the standard interest payable on the cash leg of a {{gmraprov|Transaction}}. | | {{manual|MSG|2010|10.1(f)|Clause|10.1(f)|medium}} |
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| This is ''default'' [[interest]], where things have gone Pete Tong for one party and the other has referred matters to its learned friends. In theory, this provision references the dreaded [[LIBOR]] — cue obligatory reference to the [[dramatic look gopher]] — and is thus in scope for [[LIBOR]] remediation, but in practice the question is this:
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| :''Is the world going to go any '''further''' towards hell in a hand-basket if there is confusion about the [[interest]] rate which you charge on the accrual of your legal fees?''
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| Respectfully — given that, on the theory of the game your Counterparty is already smoking ruin; thus, you are ''already'' in hell, in a hand-basket — the [[JC]] respectfully submits it will not.
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| ===[[GMSLA]] equivalent===
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| The corresponding {{gmsla}} provision (clause {{gmslaprov|11.7}}) is similar in effect, and in its potential [[LIBOR]] impact.
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| ===[[DLG]]===
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| And now: A quick [[dramatic look gopher]].
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| [[File:Dramatic Look Gopher.gif|150px|thumb|left|DID SOMEONE SAY [[LIBOR]]????]]
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| {{sa}}
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| *Clause {{gmraprov|4(f)}} — {{gmraprov|Interest on Cash Margin}}
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| *Clause {{gmslaprov|11.7}}, being the equivalent provision in the {{gmsla}}
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| *[[LIBOR]]
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2010 Global Master Securities Lending Agreement
A Jolly Contrarian owner’s manual™
Resources and navigation
Clause 10.1(f) in a Nutshell™
Use at your own risk, campers!
- 10.1(f) Repudiation: Either party admitting that it cannot or will not perform any of its obligations hereunder where, upon completion of formalities, that non-performance would be an Event of Default;
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Full text of Clause 10.1(f)
10.1(f) Lender or Borrower admitting to the other that it is unable to, or it intends not to, perform any of its obligations under this Agreement and/or in respect of any Loan where such failure to perform would with the service of notice or lapse of time constitute an Event of Default;
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Related agreements and comparisons
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Content and comparisons
Template:M comp disc GMSLA 10.1(f)
Summary
Template:M summ GMSLA 10.1(f)
General discussion
Template:M gen GMSLA 10.1(f)
See also
Template:M sa GMSLA 10.1(f)
References