Template:GMSLA 2010 10.1(d): Difference between revisions
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{{gmslaprov|10(d)}} an {{gmslaprov|Act of Insolvency}} occurring with respect to {{gmslaprov|Lender}} or {{gmslaprov|Borrower}}, provided that, where the {{gmslaprov|Parties}} have specified in paragraph 5 of the Schedule that {{gmslaprov|Automatic Early Termination}} shall apply, an {{gmslaprov|Act of Insolvency}} which is the presentation of a petition for winding up or any analogous proceeding or the appointment of a liquidator or analogous officer of the {{gmslaprov|Defaulting Party}} shall not require the {{gmslaprov|Non Defaulting Party}} to serve written notice on the {{gmslaprov|Defaulting Party}} ('''{{gmslaprov|Automatic Early Termination}}'''); <br> | {{gmslaprov|10.1(d)}} an {{gmslaprov|Act of Insolvency}} occurring with respect to {{gmslaprov|Lender}} or {{gmslaprov|Borrower}}, provided that, where the {{gmslaprov|Parties}} have specified in paragraph 5 of the Schedule that {{gmslaprov|Automatic Early Termination}} shall apply, an {{gmslaprov|Act of Insolvency}} which is the presentation of a petition for winding up or any analogous proceeding or the appointment of a liquidator or analogous officer of the {{gmslaprov|Defaulting Party}} shall not require the {{gmslaprov|Non Defaulting Party}} to serve written notice on the {{gmslaprov|Defaulting Party}} ('''{{gmslaprov|Automatic Early Termination}}'''); <br> | ||
Latest revision as of 18:38, 20 November 2017
10.1(d) an Act of Insolvency occurring with respect to Lender or Borrower, provided that, where the Parties have specified in paragraph 5 of the Schedule that Automatic Early Termination shall apply, an Act of Insolvency which is the presentation of a petition for winding up or any analogous proceeding or the appointment of a liquidator or analogous officer of the Defaulting Party shall not require the Non Defaulting Party to serve written notice on the Defaulting Party (Automatic Early Termination);