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Template:Nutshell GMSLA 9.1: Difference between revisions
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{{gmslaprov|9.1}} '''{{gmslaprov|Borrower}}’s failure to deliver {{gmslaprov|Equivalent}} {{gmslaprov|Securities}} '''<br> | {{gmslaprov|9.1}} '''{{gmslaprov|Borrower}}’s failure to deliver {{gmslaprov|Equivalent}} {{gmslaprov|Securities}} '''<br> | ||
If {{gmslaprov|Borrower}} | If {{gmslaprov|Borrower}} doesn’t deliver {{gmslaprov|Equivalent}} {{gmslaprov|Securities}} under para {{gmslaprov|8.3}} Lender may: | ||
:(a) continue the {{gmslaprov|Loan}}; or | :(a) continue the {{gmslaprov|Loan}}; or | ||
:(b) terminate the individual {{gmslaprov|Loan}} per para {{gmslaprov|11.2}} as if the {{gmslaprov|Borrower}} was subject to an {{gmslaprov|Event of Default}} but the {{gmslaprov|Loan}} were the only outstanding {{gmslaprov|Loan}}. Notwithstanding the above such a failure is '''not''' an {{gmslaprov|Event of Default}} unless otherwise agreed. <br> | :(b) terminate the individual {{gmslaprov|Loan}} per para {{gmslaprov|11.2}} as if the {{gmslaprov|Borrower}} was subject to an {{gmslaprov|Event of Default}} but the {{gmslaprov|Loan}} were the only outstanding {{gmslaprov|Loan}}. Notwithstanding the above such a failure is '''not''' an {{gmslaprov|Event of Default}} unless otherwise agreed. <br> | ||