Template:Nutshell OSLA 8(B)

8(B) If an Event of Default occurs to either Party, the Parties’ obligations are accelerated to the time of the Event of Default and:

• the Relevant Value of each Party’s obligations are determined under Clause 8(C); and
• the amount due as at the Performance Date) from each Party to the other (ie the Relevant Value of Equivalent Securities, Equivalent Collateral or any due cash) must be set-off against the sums due from the other and the balance will be payable (by the Party having the smaller claim) on the Performance Date.