event of default

Event of default is a term used in commercial loan documentation.

The borrower remains fully liable in the event of default.

Failure to pay the quarterly required distributions may constitute an event of default.

Neither the guarantee nor the premium provides insurance for the borrower in the event of default.

Generally, their parents will provide a guarantee to the lender to cover any shortfall in the event of default.

In the event of default, the investor has recourse to both the pool and the issuer.

The clause is given teeth by giving bondholders the right to an authority's council tax income in the event of default.

Standard & Poor's estimates that in the event of default investors would fail to get 30-50% of their money back.

This means that the bankers - and not the junk bond holders - would have first call on company assets in the event of default.

In the event of default, unlike a corporation or even a municipal subdivision, a nation cannot file for bankruptcy.

The company says an event of default exists in a secured loan facility that has 11 mln.

In the past a court that imposed a fine would also impose a hypothetical sentence in the event of default.

Second, English law defines and restricts the process for taking possession of property in the event of default.

In the event of default, the moneylender recovered the loan by foreclosing the land from the farmer.

In the event of default, the property reverted to Mars Ltd. without refund.

There are two types of event of default:

Campeau acknowleged that the failure to make the payments "constitutes an event of default under the loans."

This reduces the risk to the lender but not to the borrower, who remains obligated for the full debt, even in the event of default.

The company said the entities "have been operating with an overleveraged balance sheet, which caused numerous events of default under their credit facilities".

This hedge fund, Paulson & Co., stood to earn great benefit in the event of default.

'The only event of default in relation to the subordinated debt is non-payment of principal or interest.

Many times, the additional fees added on create an event of default allowing the mortgage servicer to foreclose on the property.

Most banks will therefore require a guarantee from the founders of a business that, in the event of default, the bank can pursue their personal assets.

The company ranks the creditworthiness of borrowers using a standardized ratings scale which measures expected investor loss in the event of default.

In its earliest form, it consisted of standard definitions, representations and warranties, events of default, and remedies.