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{{gmslaprov|9.3}} '''{{gmslaprov|Failure by either Party to deliver}}''' <br> | {{gmslaprov|9.3}} '''{{gmslaprov|Failure by either Party to deliver}}''' <br> | ||
Where a {{gmslaprov|Party}} (the '''{{gmslaprov|Transferor}}''') fails to deliver {{gmslaprov|Equivalent}} {{gmslaprov|Securities}} or | Where a {{gmslaprov|Party}} (the '''{{gmslaprov|Transferor}}''') fails to deliver {{gmslaprov|Equivalent}} {{gmslaprov|Securities}} or {{gmslaprov|Collateral}} when due and the other {{gmslaprov|Party}} (the '''{{gmslaprov|Transferee}}''') incurs interest, overdraft expenses or {{gmslaprov|Buy in}} costs the {{gmslaprov|Transferor}} must, within one {{gmslaprov|Business Day}} of a demand, pay the {{gmslaprov|Transferee}} and [[Hold harmless|hold it harmless]] against those costs that arise directly from that failure ''other than'' (i) costs arising from the {{gmslaprov|Transferee}}’s [[negligence]] or [[wilful default]] and (ii) any [[consequential losses]]). <br> | ||