event of default

Show Summary Details

Quick Reference

A critical clause in a loan agreement, the breaching of which will make the loan repayable immediately. The breaching of any covenant clause will be an event of default. Events of default also include failure to pay, failure to perform other duties and obligations, false representation and warranty, material adverse change, bankruptcy, and alienation of assets.

Subjects: Financial Institutions and Services.

Reference entries

Users without a subscription are not able to see the full content. Please, subscribe or login to access all content.