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Template:Gmsla 11.7 comp: Difference between revisions
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'''But see also Clause {{{{{1}}}|15}}, where this throwaway reference really bites.''' | '''But see also Clause {{{{{1}}}|15}}, where this throwaway reference really bites.''' | ||
===Special guest appearance: 2000 GMSLA=== | |||
We don’t spend too much time looking at the 2000 GMSLA any more, seeing as nor does anyone else, but we were asked to look at this clause, so here it is. Clause {{gmsla2000prov|10.7}} of the 2000 GMSLA was slightly more dependent on LIBOR than its 2010 successor as can be seen in this {{diff|57300|55633}}. Changes are largely improvements: the 2010 assumes the parties will agree something else, relying on [[LIBOR]] only as a fallback (prescient in 2010!); it falls back to overnight and not one-month LIBOR (given the callable nature of stock loans that makes a lot more sense), and the 2000 version had a genuinely gruesome 44-line coda which seemed to be some sort of half-hearted attempt at linear interpolation for shorter periods which the 2010 version, by relying on the overnight rate, was able to jettison entirely with no great loss. | |||