GMRA wikitext: Difference between revisions

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'''{{gmraprov|13}}.  {{gmraprov|Single Agreement}}'''<br>
'''{{gmraprov|13}}.  {{gmraprov|Single Agreement}}'''<br>
Each {{gmraprov|Party A}}cknowledges that, and has entered into this {{gmraprov|Agreement}} and will enter into each {{gmraprov|Transaction}} hereunder in consideration of and in reliance upon the fact that all {{gmraprov|Transaction}}s hereunder constitute a single business and contractual relationship and are made in consideration of each other. Accordingly, each {{gmraprov|Party A}}grees (i) to perform all of its obligations in respect of each {{gmraprov|Transaction}} hereunder, and that a default in the performance of any such obligations shall constitute a default by it in respect of all {{gmraprov|Transaction}}s hereunder, and (ii) that payments, deliveries and other transfers made by either of them in respect of any {{gmraprov|Transaction}} shall be [[deemed]] to have been made in consideration of payments, deliveries and other transfers in respect of any other {{gmraprov|Transaction}}s hereunder.<br>
Each {{gmraprov|Party A}}cknowledges that, and has entered into this {{gmraprov|Agreement}} and will enter into each {{gmraprov|Transaction}} hereunder in consideration of and in reliance upon the fact that all {{gmraprov|Transaction}}s hereunder constitute a single business and contractual relationship and are made in consideration of each other. Accordingly, each {{gmraprov|Party A}}grees (i) to perform all of its obligations in respect of each {{gmraprov|Transaction}} hereunder, and that a default in the performance of any such obligations shall constitute a default by it in respect of all {{gmraprov|Transaction}}s hereunder, and (ii) that payments, deliveries and other transfers made by either of them in respect of any {{gmraprov|Transaction}} shall be [[deemed]] to have been made in consideration of payments, deliveries and other transfers in respect of any other {{gmraprov|Transaction}}s hereunder.<br>
'''{{gmraprov|14}}.      {{gmraprov|Notices and Other Communications}}'''<br>
:(a) Any notice or other communication to be given under this {{gmraprov|Agreement}} 
:(i) shall be in the English language, and except where expressly otherwise provided in this {{gmraprov|Agreement}}, shall be in writing; <br>
:(ii) may be given in any manner described in sub paragraphs {{gmraprov|14(b)}} and {{gmraprov|14(c)}} below; <br>
:(iii) shall be sent to the party to whom it is to be given at the address or number, or in accordance with the electronic messaging details, set out in Annex I hereto.<br>
:(b) Subject to sub paragraph {{gmraprov|14(c)}} below, any such notice or other communication shall be effective 
:(i) if in writing and delivered in person or by courier, at the time when it is delivered; <br>
:(ii) if sent by [[telex]], at the time when the recipient's answerback is received; <br>
:(iii) if sent by facsimile transmission, at the time when the transmission is received by a responsible employee of the recipient in legible form (it being agreed that the burden of proving receipt will be on the sender and will not be met by a transmission report generated by the sender's facsimile machine); <br>
:(iv) if sent by certified or registered mail (airmail, if overseas) or the {{gmraprov|equivalent}} (return receipt requested), at the time when that mail is delivered or its delivery is attempted; <br>
:(v) if sent by [[electronic messaging system]], at the time that electronic message is received; except that any notice or communication which is received, or delivery of which is attempted, after close of business on the date of receipt or attempted delivery or on a day which is not a day on which commercial banks are open for business in the place where that notice or other communication is to be given shall be treated as given at the opening of business on the next following day which is such a day.<br>
:(c) If 
:(i) there occurs in relation to either {{gmraprov|Party A}}n event which, upon the service of a {{gmraprov|Default Notice}}, would be an {{gmraprov|Event of Default}}; and
:(ii) the non {{gmraprov|Defaulting Party}}, having made all practicable efforts to do so, including having attempted to use at least two of the methods specified in sub paragraph {{gmraprov|14(b)}}(ii), (iii) or (v), has been unable to serve a {{gmraprov|Default Notice}} by one of the methods specified in those sub paragraphs (or such of those methods as are normally used by the {{gmraprov|non-Defaulting Party}} when communicating with the {{gmraprov|Defaulting Party}}), the {{gmraprov|non-Defaulting Party}} may sign a written notice (a “'''{{gmraprov|Special Default Notice}}'''”) which 
:(aa) specifies the relevant event referred to in paragraph {{gmraprov|10(a)}} which has occurred in relation to the {{gmraprov|Defaulting Party}}; <br>
:(bb) states that the non {{gmraprov|Defaulting Party}}, having made all practicable efforts to do so, including having attempted to use at least two of the methods specified in sub paragraph {{gmraprov|14(b)}}(ii), (iii) or (v), has been unable to serve a {{gmraprov|Default Notice}} by one of the methods specified in those sub paragraphs (or such of those methods as are normally used by the {{gmraprov|non-Defaulting Party}} when communicating with the {{gmraprov|Defaulting Party}}); <br>
:(cc) specifies the date on which, and the time at which, the {{gmraprov|Special Default Notice}} is signed by the non {{gmraprov|Defaulting Party}}; and
:(dd) states that the event specified in accordance with sub paragraph {{gmraprov|14(c)}}(aa) above shall be treated as an {{gmraprov|Event of Default}} with effect from the date and time so specified.<br>
On the signature of a {{gmraprov|Special Default Notice}} the relevant event shall be treated with effect from the date and time so specified as an {{gmraprov|Event of Default}} in relation to the {{gmraprov|Defaulting Party}}, and accordingly references in paragraph {{gmraprov|10}} to a {{gmraprov|Default Notice}} shall be treated as including a {{gmraprov|Special Default Notice}}. A {{gmraprov|Special Default Notice}} shall be given to the {{gmraprov|Defaulting Party}} as soon as practicable after it is signed.<br>
:(d) Either party may by notice to the other change the address, [[telex]] or facsimile number or [[electronic messaging system]] details at which notices or other communications are to be given to it.<br>

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