Template:Nutshell Pledge GMSLA 9.2: Difference between revisions

← Older edit

Template:Nutshell Pledge GMSLA 9.2 (view source)

Revision as of 10:14, 6 January 2022

No change in size , 6 January 2022

no edit summary

Amwelladmin

Bureaucrats, Interface administrators, Administrators

82,891

edits

Revision as of 10:12, 6 January 2022 (view source) Amwelladmin (talk \| contribs) No edit summary ← Older edit		Latest revision as of 10:14, 6 January 2022 (view source) Amwelladmin (talk \| contribs) No edit summary
Line 1:		Line 1:
	{{pgmslaprov\|9.3}} '''{{pgmslaprov\|Failure by either Party to deliver or instruct delivery}}''' <br>		{{pgmslaprov\|9.3}} '''{{pgmslaprov\|Failure by either Party to deliver or instruct delivery}}''' <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>		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\|Transferor}}''') 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>