82,891
edits
Template:GMSLA 2010 9.2: Difference between revisions
no edit summary
Amwelladmin (talk | contribs) (Created page with ":{{gmslaprov|9.2}} '''{{gmslaprov|Lender’s failure to deliver Equivalent Collateral}}''' <br> ::If {{gmslaprov|Lender}} fails to deliver {{gmslaprov|Equivalent}} {{gmslaprov...") |
Amwelladmin (talk | contribs) No edit summary |
||
| (4 intermediate revisions by the same user not shown) | |||
| Line 1: | Line 1: | ||
{{gmslaprov|9.2}} '''{{gmslaprov|Lender’s failure to deliver Equivalent Collateral}}''': If {{gmslaprov|Lender}} fails to deliver {{gmslaprov|Equivalent}} {{gmslaprov|Collateral}} comprising {{gmslaprov|Non Cash Collateral}} in accordance with paragraph {{gmslaprov|8.4}} or {{gmslaprov|8.5}}, {{gmslaprov|Borrower}} may: <br> | |||
:(a) elect to continue the {{gmslaprov|Loan}} (which, {{f|for the avoidance of doubt}}, shall continue to be taken into account for the purposes of paragraph {{gmslaprov|5.4}} or {{gmslaprov|5.5}} as applicable); or <br> | |||
:(b) at any time while such failure continues, by written notice to {{gmslaprov|Lender}} declare that that {{gmslaprov|Loan}} (but only that {{gmslaprov|Loan}}) shall be terminated immediately in accordance with paragraph {{gmslaprov|11.2}} as if | |||
::(i) an {{gmslaprov|Event of Default}} had occurred in relation to the {{gmslaprov|Lender}}, | |||
::(ii) references to the {{gmslaprov|Termination Date}} were to the date on which notice was given under this sub paragraph, and | |||
::(iii) the {{gmslaprov|Loan}} were the only {{gmslaprov|Loan}} outstanding. | |||
{{f|For the avoidance of doubt}}, any such failure shall not constitute an {{gmslaprov|Event of Default}} (including under paragraph {{gmslaprov|10.1(i)}}) unless the {{gmslaprov|Parties}} otherwise agree. <br> | |||