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Template:Nutshell GMRA 10(a): Difference between revisions
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{{ | {{gmraprov|10(a)}} If any of the following events (each an “'''{{gmraprov|Event of Default}}'''”) occurs in relation to either party (the “'''{{gmraprov|Defaulting Party}}'''”, the other party being the “'''{{gmraprov|Non-Defaulting Party}}'''”) whether acting as {{gmraprov|Seller}} or {{gmraprov|Buyer}} - <br> | ||
{{2000 GMRA 10(a)(i)}} | |||
{{2000 GMRA 10(a)(ii)}} | |||
:{{gmraprov|10(a)(iii)}} {{gmraprov|Seller}} or {{gmraprov|Buyer}} fails to pay when due any sum payable under sub paragraph (g) or (h) below, and the {{gmraprov|Defaulting Party}} serves a {{gmraprov|Default Notice}} on the {{gmraprov|Defaulting Party}}; or <br> | |||
:{{gmraprov|10(a)(iv)}} {{gmraprov|Seller}} or {{gmraprov|Buyer}} fails to comply with paragraph {{gmraprov|4}} and the {{gmraprov|Defaulting Party}} serves a {{gmraprov|Default Notice}} on the {{gmraprov|Defaulting Party}}; or <br> | |||
:{{gmraprov|10(a)(v)}} {{gmraprov|Seller}} or {{gmraprov|Buyer}} fails to comply with paragraph {{gmraprov|5}} and the {{gmraprov|Defaulting Party}} serves a {{gmraprov|Default Notice}} on the {{gmraprov|Defaulting Party}}; or <br> | |||
:{{gmraprov|10(a)(vi)}} an {{gmraprov|Act of Insolvency}} occurs with respect to {{gmraprov|Seller}} or {{gmraprov|Buyer}} and (except in the case of an {{gmraprov|Act of Insolvency}} which is the presentation of a petition for winding up or any analogous proceeding or the appointment of a liquidator or analogous officer of the {{gmraprov|Defaulting Party}} in which case no such notice shall be required) the {{gmraprov|Defaulting Party}} serves a {{gmraprov|Default Notice}} on the {{gmraprov|Defaulting Party}}; or <br> | |||
:{{gmraprov|10(a)(vii)}} any representations made by {{gmraprov|Seller}} or {{gmraprov|Buyer}} are incorrect or untrue in any material respect when made or repeated or deemed to have been made or repeated, and the {{gmraprov|Defaulting Party}} serves a {{gmraprov|Default Notice}} on the {{gmraprov|Defaulting Party}}; or <br> | |||
:{{gmraprov|10(a)(viii)}} {{gmraprov|Seller}} or {{gmraprov|Buyer}} admits to the other that it is unable to, or intends not to, perform any of its obligations hereunder and/or in respect of any {{gmraprov|Transaction}} and the {{gmraprov|Defaulting Party}} serves a {{gmraprov|Default Notice}} on the {{gmraprov|Defaulting Party}}; or <br> | |||
{{2000 GMRA 10(a)(ix)}} | |||
:{{gmraprov|10(a)(x)}} {{gmraprov|Seller}} or {{gmraprov|Buyer}} fails to perform any other of its obligations hereunder and does not remedy such failure within 30 days after notice is given by the {{gmraprov|Non-Defaulting Party}} requiring it to do so, and the {{gmraprov|Defaulting Party}} serves a {{gmraprov|Default Notice}} on the {{gmraprov|Defaulting Party}}; then sub paragraphs (b) to (f) below shall apply. <br> | |||