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Template:Gmsla 11.7 gen: Difference between revisions
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===“Gains or losses on termination of the Loan”? ''No'', sir.=== | |||
{{gmslaprov2|11.7|A}} curious fidgety sort of amendment we have seen is to expand this provision from mere costs incurred on an event of default — and let’s face it, the GMSLA is designed as a self-help agreement so there really shouldn’t be any professional expenses involved in closing one out — to “all the {{{{{1}}}|Non-Defaulting Party}}’s [[reasonable]] costs and gains arising from the termination of the loan” ''as well'' as those likely-not-to-exist professional costs of [[closing out]]. | {{gmslaprov2|11.7|A}} curious fidgety sort of amendment we have seen is to expand this provision from mere costs incurred on an event of default — and let’s face it, the GMSLA is designed as a self-help agreement so there really shouldn’t be any professional expenses involved in closing one out — to “all the {{{{{1}}}|Non-Defaulting Party}}’s [[reasonable]] costs and gains arising from the termination of the loan” ''as well'' as those likely-not-to-exist professional costs of [[closing out]]. | ||