Events of Default - OSLA Provision: Difference between revisions

Events of Default - OSLA Provision (view source)

836 bytes removed , 7 January 2022

Replaced content with "{{Manual|MSO|1995|12|Clause|10|short}}"

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-{{Manual|MSO|1995|12|Clause|12|medium}}
+{{Manual|MSO|1995|12|Clause|10|short}}
-====Commentary====
-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:
-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!
-====Related Provisions====
-====Clause Comparison with GMSLA====
-The equivalent of this clause in the {{Gmsla}} is Paragraph {{gmslaprov|10}}:
-{{box|
-{{gmslaquote|{{2010 GMSLA 10}}|10|2010}}
-}}
-{{oslaanatomy}}