List of Events of Default - GMSLA Provision

Commentary

In a nutshell:

10.1 List of Events of Default

10.1(a): Failure to pay Collateral

10.1(b): Unremedied failure to manufacture payments

10.1(c): Failure to pay or deliver

10.1(d): Insolvency

10.1(e): Breach of warranty

10.1(f): Repudiation

10.1(g): Seizure of assets

10.1(h): Suspension from exchange

10.1(i): Unremedied failure to perform

Most interesting is what is not in there: There is no:

• Cross Default
• Default under Specified Transaction equivalent
• Credit Support Default equivalent
• Merger without Assumption equivalent
• Illegality equivalent
• Tax Event equivalent
• Credit Event upon Merger equivalent
• Tax Event upon Merger equivalent

Related Provisions

update to anat|gmsla

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GMSLA

Pledge GMSLA

OSLA

2010 GMSLA: Full wikitext · Nutshell wikitext | GMLSA legal code | GMSLA Netting
Pledge GMSLA: Hard copy (ISLA) · Full wikitext · Nutshell wikitext |
1995 OSLA: OSLA wikitext | OSLA in a nutshell | GMSLA/PGMSLA/OSLA clause comparison table
From Our Friends On The Internet: Guide to equity finance | ISLA’s guide to securities lending for regulators and policy makers