- cross defaults
- "金山词霸2003法学大词典":
串连违约
English-Chinese law dictionary (法律英汉双解大词典). 2013.
cross defaults
Look at other dictionaries:
cross-default — A clause which operates by automatically defaulting a party under Agreement A where it has defaulted under Agreement B. A cross default provision effectively gives the non defaulting party under Agreement A the benefit of the default provisions… … Law dictionary
cross-acceleration — USA A clause which operates by defaulting a borrower under Agreement A when it defaulted under Agreement B and the lender under Agreement B accelerates repayment. A cross acceleration provision effectively gives the lender under Agreement A the… … Law dictionary
Cross Default — A provisions in a bond indenture or loan agreement that puts the borrower in default if the borrower defaults on another obligation. Also known as cross acceleration . This provides more security to the lender. You can think of this as an out… … Investment dictionary
cross-default clause — The most onerous clause in a loan agreement, stating that if the borrower defaults on one loan, any other loans may become repayable. The cross default clause is activated when another lender is in a position to call a default on its loan or an… … Accounting dictionary
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