83,582
edits
Template:GMSLA 2010 10.1: Difference between revisions
Jump to navigation
Jump to search
no edit summary
Amwelladmin (talk | contribs) (Created page with "{{gmslaprov|10.1}} Each of the following events occurring and continuing in relation to either {{gmslaprov|Party}} (the {{gmslaprov|Defaulting Party}}, the other {{gmslaprov|P...") |
Amwelladmin (talk | contribs) No edit summary |
||
| Line 3: | Line 3: | ||
:(b) {{gmslaprov|Lender}} or {{gmslaprov|Borrower}} failing to comply with its obligations under paragraph {{gmslaprov|6.2}} or {{gmslaprov|6.3}} upon the due date and not remedying such failure within three {{gmslaprov|Business Days}} after the {{gmslaprov|Non Defaulting Party}} serves written notice requiring it to remedy such failure; <br> | :(b) {{gmslaprov|Lender}} or {{gmslaprov|Borrower}} failing to comply with its obligations under paragraph {{gmslaprov|6.2}} or {{gmslaprov|6.3}} upon the due date and not remedying such failure within three {{gmslaprov|Business Days}} after the {{gmslaprov|Non Defaulting Party}} serves written notice requiring it to remedy such failure; <br> | ||
:(c) {{gmslaprov|Lender}} or {{gmslaprov|Borrower}} failing to pay any sum due under paragraph {{gmslaprov|9.1}}(b), {{gmslaprov|9.2}}(b) or {{gmslaprov|9.3}} upon the due date; <br> | :(c) {{gmslaprov|Lender}} or {{gmslaprov|Borrower}} failing to pay any sum due under paragraph {{gmslaprov|9.1}}(b), {{gmslaprov|9.2}}(b) or {{gmslaprov|9.3}} upon the due date; <br> | ||
:(d) an {{gmslaprov|Act of Insolvency}} occurring with respect to {{gmslaprov|Lender}} or {{gmslaprov|Borrower}}, provided that, where the {{gmslaprov|Parties}} have specified in paragraph 5 of the Schedule that {{ | :(d) an {{gmslaprov|Act of Insolvency}} occurring with respect to {{gmslaprov|Lender}} or {{gmslaprov|Borrower}}, provided that, where the {{gmslaprov|Parties}} have specified in paragraph 5 of the Schedule that {{gmslaprov|Automatic Early Termination}} shall apply, an {{gmslaprov|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 {{gmslaprov|Defaulting Party}} shall not require the {{gmslaprov|Non Defaulting Party}} to serve written notice on the {{gmslaprov|Defaulting Party}} ('''{{gmslaprov|Automatic Early Termination}}'''); <br> | ||
:(e) any warranty made by {{gmslaprov|Lender}} or {{gmslaprov|Borrower}} in paragraph 13 or paragraphs 14(a) to 14(d) being incorrect or untrue in any material respect when made or repeated or deemed to have been made or repeated; <br> | :(e) any warranty made by {{gmslaprov|Lender}} or {{gmslaprov|Borrower}} in paragraph 13 or paragraphs 14(a) to 14(d) being incorrect or untrue in any material respect when made or repeated or deemed to have been made or repeated; <br> | ||
:(f) {{gmslaprov|Lender}} or {{gmslaprov|Borrower}} admitting to the other that it is unable to, or it intends not to, perform any of its obligations under this Agreement and/or in respect of any {{gmslaprov|Loan}} where such failure to perform would with the service of notice or lapse of time constitute an {{gmslaprov|Event of Default}}; <br> | :(f) {{gmslaprov|Lender}} or {{gmslaprov|Borrower}} admitting to the other that it is unable to, or it intends not to, perform any of its obligations under this Agreement and/or in respect of any {{gmslaprov|Loan}} where such failure to perform would with the service of notice or lapse of time constitute an {{gmslaprov|Event of Default}}; <br> | ||