Other costs, expenses and interest payable in consequence of an Event of Default - GMSLA Provision: Difference between revisions
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{{ | ===The {{gmslaprov|Default Interest}} provision of the {{gmsla}}=== | ||
Note a potentially troublesome reference to [[LIBOR]] in there, seeing as LIBOR is being phased out, though it is only a fall back, and only for {{gmslaprov|Default Interest}} (once a party has failed to meet its payment obligations) so, while there are more cataclysmic threats to the capital markets than this, that won’t stop financial services firms across the western world diverting key internal risk management resource towards remediating it, generating 18 months’ meaningful employment for an army of [[Contractor|contractors]] of course. | Note a potentially troublesome reference to [[LIBOR]] in there, seeing as LIBOR is being phased out, though it is only a fall back, and only for {{gmslaprov|Default Interest}} (once a party has failed to meet its payment obligations) so, while there are more cataclysmic threats to the capital markets than this, that won’t stop financial services firms across the western world diverting key internal risk management resource towards remediating it, generating 18 months’ meaningful employment for an army of [[Contractor|contractors]] of course. |
Revision as of 13:53, 12 July 2019
GMSLA Anatomy™
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The Default Interest provision of the 2010 GMSLA
Note a potentially troublesome reference to LIBOR in there, seeing as LIBOR is being phased out, though it is only a fall back, and only for Default Interest (once a party has failed to meet its payment obligations) so, while there are more cataclysmic threats to the capital markets than this, that won’t stop financial services firms across the western world diverting key internal risk management resource towards remediating it, generating 18 months’ meaningful employment for an army of contractors of course.