Delivery and payment obligations following Event of Default - GMSLA Provision: Difference between revisions

Delivery and payment obligations following Event of Default - GMSLA Provision (view source)

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 {{nuts|GMSLA|11.2}}
 ===Multi-level [[set-off]]===
-Paragraph 11.2(b) sets up a [[set-off]] of amounts due under the {{gmsla}} to create a [[single net payment]] due under the {{gmsla}} in respect of all terminated transactions. The {{gmslaprov|Non-defaulting Party}} can, in turn, set that net sum off against amounts owed to or by the {{gmslaprov|Defaulting Party}} under ''other'' agreements (such as an {{isdama}}.
+Paragraph 11.2(b) sets up a [[set-off]] of amounts due under the {{gmsla}} to create a [[single net payment]] due under the {{gmsla}} in respect of all terminated transactions. The {{gmslaprov|Non-Defaulting Party}} can, in turn, set that net sum off against amounts owed to or by the {{gmslaprov|Defaulting Party}} under ''other'' agreements (such as an {{isdama}}.
 {{Seealso}}
 * [[Netting under a GMSLA]].