Termination of course of dealings by notice - OSLA Provision: Difference between revisions
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{{ | {{oslaanat|15}}What on earth, you might muse, is a “course of dealings”? According to www.businessdictionary.com, it is “a pattern of normal business conduct between two parties. It is established over a period involving several {{oslaprov|transactions}}, and may be used as a reliable indicator of how they intend to deal in the future.” | ||
What on earth, you might muse, is a “course of dealings”? According to www.businessdictionary.com, it is “a pattern of normal business conduct between two parties. It is established over a period involving several {{ | |||
In any weather, it adds nothing but heft to this clause. This is a standard termination on notice clause. They made a much better fist of it in the {{tag|GMSLA}}. | In any weather, it adds nothing but heft to this clause. This is a standard termination on notice clause. They made a much better fist of it in the {{tag|GMSLA}}. | ||
===Clause Comparison with {{tag|GMSLA}}=== | |||
The equivalent of this clause in the {{Gmsla}} is Clause {{gmslaprov|16}}: | The equivalent of this clause in the {{Gmsla}} is Clause {{gmslaprov|16}}: | ||
{{gmslasnap|16}} | {{gmslasnap|16}} | ||
Revision as of 14:10, 27 November 2019
OSLA Anatomy™
Each Party shall have the right to bring the course of dealing contemplated under this Agreement to an end by giving not less than 15 Business Days’ notice in writing to the other Party (which notice shall specify the date of termination) subject to an obligation to ensure that all loans and which have been entered into but not discharged at the time such notice is given are duly discharged in accordance with this Agreement and with the Rules.
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What on earth, you might muse, is a “course of dealings”? According to www.businessdictionary.com, it is “a pattern of normal business conduct between two parties. It is established over a period involving several transactions, and may be used as a reliable indicator of how they intend to deal in the future.”
In any weather, it adds nothing but heft to this clause. This is a standard termination on notice clause. They made a much better fist of it in the GMSLA.
Clause Comparison with GMSLA
The equivalent of this clause in the 2010 GMSLA is Clause 16: Template:Gmslasnap