Template:Nutshell GMSLA 11.7: Difference between revisions

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(Created page with "{{gmslaprov|11.7}} '''{{gmslaprov|Costs and expenses following an Event of Default}}'''<br> The {{gmslaprov|Defaulting Party}} will be liable for all reasonable professional e...")
 
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{{gmslaprov|11.7}} '''{{gmslaprov|Costs and expenses following an Event of Default}}'''<br>
:{{gmslaprov|11.7}} '''{{gmslaprov|Costs and expenses following an Event of Default}}''': The {{gmslaprov|Defaulting Party}} will be liable for all reasonable professional expenses the {{gmslaprov|Non Defaulting Party}} incurs because of an {{gmslaprov|Event of Default}} plus [[interest]] at a rate agreed by the {{gmslaprov|Parties}} or failing that , the overnight [[LIBOR]] rate as at 11.00 a.m., London time.  [[Interest]] will accrue and compound daily.
The {{gmslaprov|Defaulting Party}} will be liable for all reasonable professional expenses the {{gmslaprov|Non Defaulting Party}} incurs because of an {{gmslaprov|Event of Default}} plus [[interest]] at a 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.

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