Template:M comp disc GMSLA 15

Clause 15 of the 2010 GMSLA is identical to Clause 15 of the 2018 Pledge GMSLA. Note the sneaky reference to the default interest rate drafting in Clause 11.7, which falls back to — dramatic look gopher — LIBOR, and means that 11.7 isn’t, after all, restricted only to professional fees. This is absolutely dreadful drafting from ISLA’s crack drafting squad™.