Template:Specified Information and Breach of Agreement: Difference between revisions

Template:Specified Information and Breach of Agreement (view source)

No change in size , 11 September 2017

no edit summary

82,890

edits

@@ Line 4: / Line 4: @@
 *By dint of Section {{isdaprov|4(a)}} you agree to furnish each other {{isdaprov|Specified Information}} set out in {{isdaprov|Part 3}} of the {{isdaprov|Schedule}}.
 *By dint of Section {{isdaprov|5(a)(ii)}} if you ''don’t'' then that can be a {{isdaprov|Breach of Agreement}} {{isdaprov|Event of Default}} under Section {{isdaprov|5(a)(ii)}}. (Note you must pursue a tortured chain of nested [[double negative|double negatives]] and carefully parsing of interplay between Sections {{isdaprov|4(a)}} and {{isdaprov|5(a)(ii)}} to grasp this.)
-*However, there is a ''thirty day'' [[grace period]] following notice before {{isdaprov|Breaches of Agreement}} is an official {{isdaprov|Event of Default}}. (A {{isdaprov|Failure to Pay or Deliver}} is excluded from that definition, by the way, because it has its own [[EOD]] with a much tighter [[grace period]]).
+*However, there is a ''thirty day'' [[grace period]] following notice before a {{isdaprov|Breach of Agreement}} is an official {{isdaprov|Event of Default}}. (A {{isdaprov|Failure to Pay or Deliver}} is excluded from that definition, by the way, because it has its own [[EOD]] with a much tighter [[grace period]]).
 *So if you need that document urgently and can’t wait a month for it (it might not if you are a [[credit officer]] and it is a monthly [[NAV]] statement, for example) then you must upgrade failure to “furnish” this agreement to an {{isdaprov|Additional Termination Event}}.