Template:Nutshell Pledge GMSLA 9.2: Difference between revisions

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Revision as of 10:07, 6 January 2022 (view source) Amwelladmin (talk \| contribs) (Created page with "{{subst:Nutshell GMSLA 9.3}}")		Revision as of 10:12, 6 January 2022 (view source) Amwelladmin (talk \| contribs) No edit summary Newer edit →
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	{{~~gmslaprov~~\|9.3}} '''{{~~gmslaprov~~\|Failure by either Party to deliver}}''' <br>		{{pgmslaprov\|9.3}} '''{{pgmslaprov\|Failure by either Party to deliver or instruct delivery}}''' <br>
	Where ~~a {{gmslaprov\|Party}} (the '''~~{{~~gmslaprov~~\|~~Transferor~~}}~~''')~~ fails to deliver {{~~gmslaprov~~\|Equivalent}} {{~~gmslaprov~~\|Securities}} or {{~~gmslaprov~~\|Collateral}} when due and the other {{~~gmslaprov~~\|Party}} (the '''{{~~gmslaprov~~\|Transferee}}''') incurs interest, overdraft expenses or {{~~gmslaprov~~\|Buy in}} costs the {{~~gmslaprov~~\|Transferor}} must, within one {{~~gmslaprov~~\|Business Day}} of a demand, pay the {{~~gmslaprov~~\|Transferee}} and [[Hold harmless\|hold it harmless]] against those costs that arise directly from that failure ''other than'' (i) costs arising from the {{~~gmslaprov~~\|Transferee}}’s [[negligence]] or [[wilful default]] and (ii) any [[consequential losses]]). <br>		Where {{pgmslaprov\|Borrower}} fails to deliver {{pgmslaprov\|Equivalent}} {{pgmslaprov\|Securities}} or {{pgmslaprov\|Lender}} fails to instruct {{pgmslaprov\|Custodian}} to deliver {{pgmslaprov\|Posted Collateral}} when due (such party the '''{{pgmslaprov\|Transferee}}''') and the other {{pgmslaprov\|Party}} (the '''{{pgmslaprov\|Transferee}}''') incurs interest, overdraft expenses or {{pgmslaprov\|Buy in}} costs the {{pgmslaprov\|Transferor}} must, within one {{pgmslaprov\|Business Day}} of a demand, pay the {{pgmslaprov\|Transferee}} and [[Hold harmless\|hold it harmless]] against those costs that arise directly from that failure ''other than'' (i) costs arising from the {{pgmslaprov\|Transferee}}’s [[negligence]] or [[wilful default]] and (ii) any [[consequential losses]]). <br>