Other costs, expenses and interest payable in consequence of an Event of Default - GMSLA Provision
11.7 in a Nutshell™ (GMSLA edition)
11.7 Costs and expenses following an Event of Default: The Defaulting Party must pay the Non-Defaulting Party’s reasonable professional expenses in connection with the Event of Default plus interest at the rate agreed by the Parties or failing that, the overnight LIBOR rate as at 11.00 a.m., London time. Interest will accrue and compound daily.
Commentary
See Also
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