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Template:Nutshell OSLA 12: Difference between revisions
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{{oslaprov|12}}. '''{{oslaprov|Events of Default}}'''<br> | {{oslaprov|12}}. '''{{oslaprov|Events of Default}}'''<br> | ||
The following events occurring to a {{oslaprov|Party}} ( | The following events occurring to a {{oslaprov|Party}} ('''{{oslaprov|Defaulting Party}}''') will be {{oslaprov|Events of Default}} under Clause {{oslaprov|8}} upon the other Party ('''{{oslaprov|Non-Defaulting Party}}''') serving written notice on it: <br> | ||
:{{oslaprov|12(A)}} '''Failure to pay''': It fails to pay {{oslaprov|Cash Collateral}} or deliver {{oslaprov|Collateral}} or {{oslaprov|Equivalent Collateral}} when due; <br> | :{{oslaprov|12(A)}} '''Failure to pay''': It fails to pay {{oslaprov|Cash Collateral}} or deliver {{oslaprov|Collateral}} or {{oslaprov|Equivalent Collateral}} when due; <br> | ||
:{{oslaprov|12(B)}} '''Failure to provide Collateral''': It breaches its obligations under Clause {{oslaprov|6}}; <br> | :{{oslaprov|12(B)}} '''Failure to provide Collateral''': It breaches its obligations under Clause {{oslaprov|6}}; <br> | ||