Event of default
From ACT Wiki
The event of breaching a loan agreement. Each loan agreement will normally define exactly what constitutes an event of default.
Events of default will generally include any failure to pay interest or capital on a due date, any failure to comply with a covenant and any inability to repeat a representation.
See also
- Acceleration
- Covenant
- Cross default
- Default
- Financial covenant
- Grace period
- Loan agreement
- Material adverse change
- Representations and warranties
- Waiver
