Default interest - GMRA Provision: Difference between revisions

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{{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.
{{manual|MRG|2000|10(f)|Clause|11(h)|medium}}
 
And now: A quick [[dramatic look gopher]].
[[File:Dramatic Chipmunk.png|150px|frameless|center]]
{{sa}}
*Clause {{gmraprov|4(f)}} — {{gmraprov|Interest on Cash Margin}}
*[[LIBOR]]