Notification of Events of Default - GMSLA Provision

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2010 Global Master Securities Lending Agreement
A Jolly Contrarian owner’s manual™

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Stock Loan owner’s manuals: 2010 GMSLA · 2000 GMSLA · Pledge GMSLA · OSLA

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Clause 10.2 in a Nutshell

Use at your own risk, campers!
10.2 Each Party must formally notify the other it if suffers any Event of Default or potential Event of Default.

Full text of Clause 10.2

10.2 Each Party shall notify the other (in writing) if an Event of Default or an event which, with the passage of time and/or upon the serving of a written notice as referred to above, would be an Event of Default, occurs in relation to it.

Related agreements and comparisons

Related agreements: Click here for the same clause in the 2018 Pledge GMSLA
Related agreements: Click here for the same clause in the 1995 OSLA
Comparison: Template:Gmsladiff 10.2
Comparison: Template:Osladiff 10.2

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Content and comparisons

Template:M comp disc GMSLA 10.2

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Summary

A well-meant provision that falls foul of the Berkeley’s paradox, about which we have an earnest essay, if you are interested.

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General discussion

Template:M gen GMSLA 10.2

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See also

Template:M sa GMSLA 10.2

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References