82,891
edits
Talk:Events of Default - GMSLA Provision: Difference between revisions
Talk:Events of Default - GMSLA Provision (view source)
Revision as of 17:37, 19 June 2020
, 19 June 2020no edit summary
Amwelladmin (talk | contribs) No edit summary |
Amwelladmin (talk | contribs) No edit summary |
||
| Line 14: | Line 14: | ||
10.1(j) Defaulting Party serves written notice requiring it to remedy such failure; or | 10.1(j) Defaulting Party serves written notice requiring it to remedy such failure; or | ||
10.1(k) in relation to the Security Agreement, (i) Borrower failing to perform any of its obligations under the Security Agreement, (ii) the expiration or termination of the Security Agreement, (iii) any security interest granted by Borrower therein, ceasing to be or otherwise not being in full force and effect or (iv) Borrower disaffirming, disclaiming, repudiating or rejecting, in whole or in part, or challenging the validity of, such Security Agreement (or such action is taken by any person or entity appointed or empowered to operate it or act on its behalf), provided that in each such case, the Defaulting Party shall be deemed to be Borrower. | 10.1(k) in relation to the Security Agreement, (i) Borrower failing to perform any of its obligations under the Security Agreement, (ii) the expiration or termination of the Security Agreement, (iii) any security interest granted by Borrower therein, ceasing to be or otherwise not being in full force and effect or (iv) Borrower disaffirming, disclaiming, repudiating or rejecting, in whole or in part, or challenging the validity of, such Security Agreement (or such action is taken by any person or entity appointed or empowered to operate it or act on its behalf), provided that in each such case, the Defaulting Party shall be deemed to be Borrower. | ||
10.2 Each Party shall notify the other (in writing) if an Event of Default or an event which, with the passage of time and/or upon the serving of a written notice as referred to above, would be an Event of Default, occurs in relation to it. 10.3 Subject to paragraphs 9 and 11, neither Party may claim any sum by way of consequential loss or damage in the event of failure by the other Party to perform any of its obligations under this Agreement. | 10.2 Each Party shall notify the other (in writing) if an Event of Default or an event which, with the passage of time and/or upon the serving of a written notice as referred to above, would be an Event of Default, occurs in relation to it. | ||
10.3 Subject to paragraphs 9 and 11, neither Party may claim any sum by way of consequential loss or damage in the event of failure by the other Party to perform any of its obligations under this Agreement. | |||