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Template:GMRA 2000 10(a): Difference between revisions
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{{grmaprov|10(a)}} If any of the following events (each an “{{gmraprov|'''Event of Default'''}}”) occurs in relation to either party (the “'''{{gmraprov|Defaulting Party}}'''”, the other party being the “'''{{gmraprov| | {{grmaprov|10(a)}} If any of the following events (each an “{{gmraprov|'''Event of Default'''}}”) occurs in relation to either party (the “'''{{gmraprov|Defaulting Party}}'''”, the other party being the “'''{{gmraprov|Non-Defaulting Party}}'''”) whether acting as {{gmraprov|Seller}} or {{gmraprov|Buyer}} - <br> | ||
:{{gmraprov|10(a)(i)}} {{gmraprov|Buyer}} fails to pay the {{gmraprov|Purchase Price}} upon the applicable {{gmraprov|Purchase Date}} or {{gmraprov|Seller}} fails to pay the {{gmraprov|Repurchase Price}} upon the applicable {{gmraprov|Repurchase Date}} , and the {{gmraprov|Defaulting Party}} serves a {{gmraprov|Default Notice}} on the {{gmraprov|Defaulting Party}}; or <br> | :{{gmraprov|10(a)(i)}} {{gmraprov|Buyer}} fails to pay the {{gmraprov|Purchase Price}} upon the applicable {{gmraprov|Purchase Date}} or {{gmraprov|Seller}} fails to pay the {{gmraprov|Repurchase Price}} upon the applicable {{gmraprov|Repurchase Date}} , and the {{gmraprov|Defaulting Party}} serves a {{gmraprov|Default Notice}} on the {{gmraprov|Defaulting Party}}; or <br> | ||
:{{gmraprov|10(a)(ii)}} if the parties have specified in Annex I hereto that this sub paragraph shall apply, {{gmraprov|Seller}} fails to deliver {{gmraprov|Purchased Securities}} on the {{gmraprov|Purchase Date}} or {{gmraprov|Buyer}} fails to deliver Equivalent Securities on the {{gmraprov|Repurchase Date}} , and the {{gmraprov|Defaulting Party}} serves a {{gmraprov|Default Notice}} on the {{gmraprov|Defaulting Party}}; or <br> | :{{gmraprov|10(a)(ii)}} if the parties have specified in Annex I hereto that this sub paragraph shall apply, {{gmraprov|Seller}} fails to deliver {{gmraprov|Purchased Securities}} on the {{gmraprov|Purchase Date}} or {{gmraprov|Buyer}} fails to deliver Equivalent Securities on the {{gmraprov|Repurchase Date}} , and the {{gmraprov|Defaulting Party}} serves a {{gmraprov|Default Notice}} on the {{gmraprov|Defaulting Party}}; or <br> | ||
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:{{gmraprov|10(a)(viii)}} {{gmraprov|Seller}} or {{gmraprov|Buyer}} admits to the other that it is unable to, or intends not to, perform any of its obligations hereunder and/or in respect of any {{gmraprov|Transaction}} and the {{gmraprov|Defaulting Party}} serves a {{gmraprov|Default Notice}} on the {{gmraprov|Defaulting Party}}; or <br> | :{{gmraprov|10(a)(viii)}} {{gmraprov|Seller}} or {{gmraprov|Buyer}} admits to the other that it is unable to, or intends not to, perform any of its obligations hereunder and/or in respect of any {{gmraprov|Transaction}} and the {{gmraprov|Defaulting Party}} serves a {{gmraprov|Default Notice}} on the {{gmraprov|Defaulting Party}}; or <br> | ||
:{{gmraprov|10(a)(ix)}} {{gmraprov|Seller}} or {{gmraprov|Buyer}} is suspended or expelled from membership of or participation in any securities exchange or association or other self-regulating organisation, or suspended from dealing in securities by any government agency, or any of the assets of either {{gmraprov|Seller}} or {{gmraprov|Buyer}} or the assets of investors held by, or to the order of, {{gmraprov|Seller}} or {{gmraprov|Buyer}} are transferred or ordered to be transferred to a trustee by a regulatory authority pursuant to any securities regulating legislation and the {{gmraprov|Defaulting Party}} serves a {{gmraprov|Default Notice}} on the {{gmraprov|Defaulting Party}}; or <br> | :{{gmraprov|10(a)(ix)}} {{gmraprov|Seller}} or {{gmraprov|Buyer}} is suspended or expelled from membership of or participation in any securities exchange or association or other self-regulating organisation, or suspended from dealing in securities by any government agency, or any of the assets of either {{gmraprov|Seller}} or {{gmraprov|Buyer}} or the assets of investors held by, or to the order of, {{gmraprov|Seller}} or {{gmraprov|Buyer}} are transferred or ordered to be transferred to a trustee by a regulatory authority pursuant to any securities regulating legislation and the {{gmraprov|Defaulting Party}} serves a {{gmraprov|Default Notice}} on the {{gmraprov|Defaulting Party}}; or <br> | ||
:{{gmraprov|10(a)(x)}} {{gmraprov|Seller}} or {{gmraprov|Buyer}} fails to perform any other of its obligations hereunder and does not remedy such failure within 30 days after notice is given by the | :{{gmraprov|10(a)(x)}} {{gmraprov|Seller}} or {{gmraprov|Buyer}} fails to perform any other of its obligations hereunder and does not remedy such failure within 30 days after notice is given by the {{gmraprov|Non-Defaulting Party}} requiring it to do so, and the {{gmraprov|Defaulting Party}} serves a {{gmraprov|Default Notice}} on the {{gmraprov|Defaulting Party}}; then sub paragraphs (b) to (f) below shall apply. <br> | ||