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Template:Nutshell GMSLA 17: Difference between revisions
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Amwelladmin (talk | contribs) (Created page with "{{gmslaprov|17}} '''{{gmslaprov|Single Agreement}}'''<br> The parties enter into this {{gmslaprov|Agreement}} and each {{gmslaprov|Loan}} on the assumption that {{gmslaprov|Lo...") |
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{{gmslaprov|17}} '''{{gmslaprov|Single Agreement}}'''<br> | {{gmslaprov|17}} '''{{gmslaprov|Single Agreement}}'''<br> | ||
The parties enter into this {{gmslaprov|Agreement}} and each {{gmslaprov|Loan}} on the assumption that {{gmslaprov|Loan}}s constitute a single business and contractual relationship and are made in consideration of each other and therefore agrees: | The parties enter into this {{gmslaprov|Agreement}} and each {{gmslaprov|Loan}} on the assumption that {{gmslaprov|Loan}}s constitute a single business and contractual relationship and are made in consideration of each other and therefore agrees: | ||
(a) that its default under one Loan will be a default under all of them (except where provided otherwise); and | :(a) that its default under one Loan will be a default under all of them (except where provided otherwise); and | ||
(b) that its performance under any one {{gmslaprov|Loan}} is in consideration of the other {{gmslaprov|Party}}’s performance under all {{gmslaprov|Loan}}s. | :(b) that its performance under any one {{gmslaprov|Loan}} is in consideration of the other {{gmslaprov|Party}}’s performance under all {{gmslaprov|Loan}}s. <br> | ||