83,106
edits
Template:OSLA 1995 12: Difference between revisions
no edit summary
Amwelladmin (talk | contribs) No edit summary |
Amwelladmin (talk | contribs) No edit summary |
||
| Line 1: | Line 1: | ||
{{oslaprov|12}}. '''{{oslaprov|Events of Default}}'''<br> | {{oslaprov|12}}. '''{{oslaprov|Events of Default}}'''<br> | ||
Each of the following events occurring in relation to either {{oslaprov|Party}} (the | Each of the following events occurring in relation to either {{oslaprov|Party}} (the “'''{{oslaprov|Defaulting Party}}'''”, the other {{oslaprov|Party}} being the “'''{{oslaprov|Non-Defaulting Party}}'''”) shall be an {{oslaprov|Event of Default}} for the purpose of Clause {{oslaprov|8}}: <br> | ||
:{{oslaprov|12(A)}} the {{oslaprov|Borrower}} or {{oslaprov|Lender}} failing to pay or repay {{oslaprov|Cash Collateral}} or deliver or redeliver {{oslaprov|Collateral}} or {{oslaprov|Equivalent Collateral}} upon the due date, and the {{oslaprov|Non-Defaulting Party}} serves written notice on the {{oslaprov|Defaulting Party}}; <br> | :{{oslaprov|12(A)}} the {{oslaprov|Borrower}} or {{oslaprov|Lender}} failing to pay or repay {{oslaprov|Cash Collateral}} or deliver or redeliver {{oslaprov|Collateral}} or {{oslaprov|Equivalent Collateral}} upon the due date, and the {{oslaprov|Non-Defaulting Party}} serves written notice on the {{oslaprov|Defaulting Party}}; <br> | ||
:{{oslaprov|12(B)}} the {{oslaprov|Lender}} or {{oslaprov|Borrower}} failing to comply with its obligations under Clause 6, and the {{oslaprov|Non-Defaulting Party}} serves written notice on the {{oslaprov|Defaulting Party}}; <br> | :{{oslaprov|12(B)}} the {{oslaprov|Lender}} or {{oslaprov|Borrower}} failing to comply with its obligations under Clause 6, and the {{oslaprov|Non-Defaulting Party}} serves written notice on the {{oslaprov|Defaulting Party}}; <br> | ||