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Template:M gen GMSLA 10: Difference between revisions
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*Then the aggrieved party has to tell the delinquent one — note: it is not yet technically a “{{gmslaprov|Defaulting Party}}” as there is a [[grace period]] — that it has failed to make that payment, and ask it to make the payment within three {{gmslaprov|Business Day}}s. | *Then the aggrieved party has to tell the delinquent one — note: it is not yet technically a “{{gmslaprov|Defaulting Party}}” as there is a [[grace period]] — that it has failed to make that payment, and ask it to make the payment within three {{gmslaprov|Business Day}}s. | ||
*Then the delinquent party has to fail to remediate the manifactured {{gmslaprov|Income}} payment by close on the third {{gmslaprov|Business Day}} after that notice. Then the aggreived party can notify the delinquent party — whereupon it becomes a “{{gmslaprov|Defaulting Party}}” — that it is, finally, an {{gmslaprov|Event of Default}}.<br> | *Then the delinquent party has to fail to remediate the manifactured {{gmslaprov|Income}} payment by close on the third {{gmslaprov|Business Day}} after that notice. Then the aggreived party can notify the delinquent party — whereupon it becomes a “{{gmslaprov|Defaulting Party}}” — that it is, finally, an {{gmslaprov|Event of Default}}.<br> | ||
==={{gmslaprov|10.1(c)}}=== | ==={{gmslaprov|10.1(c)}} Minicloseout failure=== | ||
==={{gmslaprov|10.1(d)}=== | See commentary above under {{gmslaprov|10.1(a)}}. | ||
==={{gmslaprov|10.1(d)}} {{gmslaprov|Act of Insolvency}}=== | |||
For which you will need the definition of {{gmslaprov|Act of Insolvency}}, which is not quite the same as the definition of {{isdaprov|Bankruptcy}} in the {{isdama}}. I suspect this was just a matter of professional pride for {{islacds}}, and its [[ninja]] forebears when they crafted the [[Act of Insolvency - OSLA Provision|equivalent provision]] in the {{osla}}, on which this provision is based | |||
==={{gmslaprov|10.1(e)}}: Breach of warranty=== | ==={{gmslaprov|10.1(e)}}: Breach of warranty=== | ||
Why exclude the 14(e) warranty about not having the primary purpose of voting on the Securities? Search me. <br> | Why exclude the 14(e) warranty about not having the primary purpose of voting on the Securities? Search me. <br> | ||