Insolvency - GMSLA Provision: Difference between revisions
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Revision as of 16:14, 24 October 2017
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10.1(d) in a Nutshell™ (GMSLA edition)
10.1(d) Act of Insolvency: An Act of Insolvency occurring to Lender or Borrower. If Automatic Early Termination applies, if anyone presents a winding up petition or appoints a liquidator, it will be an Automatic Early Termination and the Non Defaulting Party need not serve written notice.