Template:Nutshell GMSLA 2.4: Difference between revisions
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{{gmslaprov|2.4}} '''{{gmslaprov|Currency conversions}}''' | {{gmslaprov|2.4}} '''{{gmslaprov|Currency conversions}}''': Subject to paragraph {{gmslaprov|11}}, values stated in other currencies other must be converted into the {{gmslaprov|Base Currency}} at the [[spot rate]] obtained by {{gmslaprov|Lender}} (or if it is subject to an {{gmslaprov|Event of Default}}, the {{gmslaprov|Borrower}}) on the relevant day (or, if it isn’t a {{gmslaprov|Business Day}}, at the {{gmslaprov|Close of Business}} on the previous {{gmslaprov|Business Day}} on which a quotation was available). <br> | ||
Subject to paragraph {{gmslaprov|11}}, values stated in other currencies other must be converted into the Base Currency at the | |||
Latest revision as of 11:32, 15 April 2020
2.4 Currency conversions: Subject to paragraph 11, values stated in other currencies other must be converted into the Base Currency at the spot rate obtained by Lender (or if it is subject to an Event of Default, the Borrower) on the relevant day (or, if it isn’t a Business Day, at the Close of Business on the previous Business Day on which a quotation was available).