Template:Nutshell Pledge GMSLA 17: Difference between revisions

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{{gmslaprov|17}} '''{{gmslaprov|Single Agreement}}'''<br>
{{pgmslaprov|17}} '''{{pgmslaprov|Single Agreement}}'''<br>
The parties enter into this {{gmslaprov|Agreement}} and each {{gmslaprov|Loan}} on the assumption that {{gmslaprov|Loan}}s constitute a single business and contractual relationship and are made in consideration of each other and therefore agrees:
The parties enter into this {{pgmslaprov|Agreement}} and each {{pgmslaprov|Loan}} on the assumption that {{pgmslaprov|Loan}}s constitute a single business and contractual relationship and are made in consideration of each other and therefore agrees:
:(a)  that its default under one Loan will be a default under all of them (except where provided otherwise); and
:(a)  that its default under one Loan will be a default under all of them (except where provided otherwise); and
:(b) that its performance under any one {{gmslaprov|Loan}} is in consideration of the other {{gmslaprov|Party}}’s performance under all {{gmslaprov|Loan}}s. <br>
:(b) that its performance under any one {{pgmslaprov|Loan}} is in consideration of the other {{pgmslaprov|Party}}’s performance under all {{pgmslaprov|Loan}}s. <br>

Latest revision as of 14:41, 21 January 2021

17 Single Agreement
The parties enter into this Agreement and each Loan on the assumption that Loans constitute a single business and contractual relationship and are made in consideration of each other and therefore agrees:

(a) that its default under one Loan will be a default under all of them (except where provided otherwise); and
(b) that its performance under any one Loan is in consideration of the other Party’s performance under all Loans.
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