Template:Nutshell GMSLA 11.7: Difference between revisions

Template:Nutshell GMSLA 11.7 (view source)

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	:{{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.		:{{gmslaprov\|11.7}} '''{{gmslaprov\|Costs and expenses following an Event of Default}}''': The {{gmslaprov\|Defaulting Party}} must pay the {{gmslaprov\|Non-Defaulting Party}}’s reasonable professional expenses in connection with the {{gmslaprov\|Event of Default}} plus [[interest]] at the 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.