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Failure by either Party to deliver - GMSLA Provision: Difference between revisions
Failure by either Party to deliver - GMSLA Provision (view source)
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{{gmslaanat|9.3}} | {{gmslaanat|9.3}} | ||
{{gmsla9commentary}} | {{gmsla9commentary}} | ||
Note also the clear exclusion of indirect and [[consequential loss]]es, as well as losses to which the Transferee is contributorily negligent. If you are thinking I just made up the adjective | Note also the clear exclusion of indirect and [[consequential loss]]es, as well as losses to which the Transferee is contributorily [[negligent]]. If you are thinking I just made up the [[adjective]] “contributorily”, and were about to conclude I’m maybe a bit ''[[reckless]]''<ref>I expect [[Mediocre lawyer|careful attorneys]] to be rolling around on the floor laughing at this ''bon mot''.</ref>* you might be interested to know it is actually a [https://en.wiktionary.org/wiki/contributorily word]. | ||
===Replacement costs and | ===Replacement costs and ISDA hedging language=== | ||
Does it make sense to replace this clause with some convoluted shtick about the costs of replacement transactions or otherwise hedging the innocent party’s exposure? To determine follow this flow chart: | Does it make sense to replace this clause with some convoluted shtick about the costs of replacement transactions or otherwise hedging the innocent party’s exposure? To determine follow this flow chart: | ||