Default interest - GMRA Provision: Difference between revisions

{{gmraanat|10(f)}}Compare with Clause {{gmraprov|4(f)}}, which is the standard interest payable on the cash leg of a {{gmraprov|Transaction}}. This is default interest, where things have gone pete tong and one side has referred matters to its learned friends. In theory in scope for [[LIBOR]] remediation — cue obligatory reference to the [[dramatic look gopher]] — but is the world going to go any further towards Hell in a hand-basket if there is confusion about the interest basis on which you can recover legal fees? Respectfully — given that, on the theory of the game your Counterparty is a smoking ruin and so you are ''already'' in hell, in a hand-basket, the [[JC]] respectfuilly submits it will not.

And now: A quick [[dramatic look gopher]].

[[File:Dramatic Chipmunk.png|150px|frameless|center]]