Template:Nutshell GMSLA 9.1: Difference between revisions

Template:Nutshell GMSLA 9.1 (view source)

22 bytes removed , 17 November 2020

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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}} ''': If {{gmslaprov|Borrower}} doesn’t deliver {{gmslaprov|Equivalent}} {{gmslaprov|Securities}} under para {{gmslaprov|8.3}} Lender may:
-: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}}.
-::(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>
+Notwithstanding the above, such a failure will '''not''' be an {{gmslaprov|Event of Default}}. <br>