Template:Pledge GMSLA 2018 9: Difference between revisions

Template:Pledge GMSLA 2018 9 (view source)

1,284 bytes removed , 27 April 2020

Replaced content with "{{pgmslaprov|9}}. '''{{pgmslaprov|Failure to Deliver}}'''<br> {{Pledge GMSLA 2018 9.1}} {{Pledge GMSLA 2018 9.2}}"

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 {{Pledge GMSLA 2018 9.1}}
 {{Pledge GMSLA 2018 9.2}}
-{{gmslaprov|9.2}} '''{{pgmslaprov|Failure by either Party to deliver or instruct delivery}}''' <br>
-Where {{pgmslaprov|Borrower}} fails to deliver {{pgmslaprov|Equivalent {{pgmslaprov|Securities}}, or {{pgmslaprov|Lender}} fails to instruct {{pgmslaprov|Custodian}} to deliver {{pgmslaprov|Posted Collateral}}, in either case by the time required under this {{pgmslaprov|Agreement}} or within such other period as may be agreed between such {{pgmslaprov|Party}} (the {{pgmslaprov|Transferor}}) and the other {{pgmslaprov|Party}} (the {{pgmslaprov|Transferee}}), and the {{pgmslaprov|Transferee}}:
-:(a)	incurs interest, overdraft or similar costs and expenses; or
-:(b)	incurs costs and expenses as a direct result of a Buy-in exercised against it by a third party,
-:then the {{pgmslaprov|Transferor}} agrees to pay within one {{pgmslaprov|Business Day}} of a demand from the {{pgmslaprov|Transferee}} and [[hold harmless]] the {{pgmslaprov|Transferee}} with respect to all reasonable costs and expenses listed in sub-paragraphs (a) and (b) above properly incurred which arise directly from such failure other than (i) such costs and expenses which arise from the [[negligence]] or [[wilful default]] of the {{pgmslaprov|Transferee}} and (ii) any indirect or [[consequential loss]]es.