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| {{oslasnap|12}} | | {{Manual|MSO|1995|12|Clause|10|short}} |
| ====Commentary====
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| Note by contrast to the {{isdama}} the {{oslaprov|Event of Default}} is only an Event of Default upon written notice to the other party - in the {{isdama}} it is an {{oslaprov|Event of Default}} in itself, and it gives rise to a non-defaulting party's right designate a termination event. A subtle difference but one which calls for a little bit of caution:
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| For example, a party may have failed to pay or deliver - if you want to simply remind the defaulting party to make the payment without inadvertently triggering a termination, you need to be careful about how you do that so as to not trigger!
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| ====Related Provisions====
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| ====Clause Comparison with GMSLA====
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| The equivalent of this clause in the {{Gmsla}} is:
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| {{oslaanatomy}}
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