Template:GMSLA 2010 9: Difference between revisions

Template:GMSLA 2010 9 (view source)

1,152 bytes removed , 18 July 2013

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Replaced content with "{{gmslaprov|9}}. '''{{gmslaprov|Failure to Deliver}}''' <BR> {{2010 GMSLA 9.1}} {{2010 GMSLA 9.2}} {{2010 GMSLA 9.3}}"

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-{{gmslaprov|9}}.	'''{{gmslaprov|Failure to Deliver}}''' <BR>
+{{gmslaprov|9}}. '''{{gmslaprov|Failure to Deliver}}''' <BR>
 {{2010 GMSLA 9.1}}
 {{2010 GMSLA 9.2}}
-:{{gmslaprov|9.3}}	'''{{gmslaprov|Failure by either Party to deliver}}''' <br>
+{{2010 GMSLA 9.3}}
-::Where a {{gmslaprov|Party}} (the {{gmslaprov|Transferor}}) fails to deliver {{gmslaprov|Equivalent}} Securities or {{gmslaprov|Equivalent}} {{gmslaprov|Collateral}} by the time required under this Agreement or within such other period as may be agreed between the {{gmslaprov|Transferor}} and the other {{gmslaprov|Party}} (the {{gmslaprov|Transferee}}) and the {{gmslaprov|Transferee}}: <br>
-::(a)	incurs interest, overdraft or similar costs and expenses; or <br>
-::(b)	incurs costs and expenses as a direct result of a {{gmslaprov|Buy in}} exercised against it by a third party, <br>
-::then the {{gmslaprov|Transferor}} agrees to pay within one {{gmslaprov|Business Day}} of a demand from the {{gmslaprov|Transferee}} and hold harmless the {{gmslaprov|Transferee}} with respect to all reasonable costs and expenses listed in sub paragraphs (a) and (b) above properly incurred which arise directly from such failure other than (i) such costs and expenses which arise from the negligence or wilful default of the {{gmslaprov|Transferee}} and (ii) any indirect or consequential losses. <br>