Net Value determination where unable to sell Securities - GMSLA Provision: Difference between revisions
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Revision as of 11:19, 18 January 2020
GMSLA Anatomy™
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11. Consequences of an Event of Default
- 11.1 Application of 11.2 to 11.7 following Event of Default
- 11.2 Delivery and payment obligations following Event of Default
- 11.3 Definition of Default Market Value
- 11.4 Determination of Default Market Value
- 11.5 Net Value determination where unable to sell Securities
- 11.6 Where Non-Defaulting Party has not determined Default Market Value
- 11.7 Other costs, expenses and interest payable in consequence of an Event of Default
- 11.8 Set-off
If it can't determine a Default Market Value under 11.2, 11.3 and 11.4, the Non Defaulting Party can just make one up.
Within reason, of course.