Contractual Default Clause Samples
A Contractual Default clause defines what constitutes a breach or failure to perform under the terms of an agreement. It typically outlines specific actions or omissions—such as missed payments, failure to deliver goods or services, or violation of key obligations—that will be considered defaults. The clause may also describe the process for notifying the defaulting party and any grace periods for remedying the breach. Its core function is to clearly establish the circumstances under which a party is considered in default, thereby providing a basis for enforcement actions or remedies such as termination or damages.
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Contractual Default. Determination and identification of contractual Shortcomings - Means of action by the Lessee
Contractual Default. Borrower is not in default under or with respect to any of their respective contractual obligations in any respect that could reasonably be expected to have a material adverse effect on Borrower.
Contractual Default. If the Company breaches, or a default exists under, any provision of this Agreement or any of the other Loan Documents, and such breach or default is not cured (if capable of cure) within fifteen days of the date such breach or default occurs.
Contractual Default. If the Company breaches any part of this Agreement or the Exhibits thereto it shall constitute a Default. The Company acknowledges and agrees that the failure of the Company to comply with the Affirmative and Negative Covenants contained in Articles Three and Four increases the risk to Lender's investment above that contemplated and agreed to by the parties and the Company agrees that any failure to comply with the Affirmative and Negative Covenants is a Default and will be so treated by the Lender. Provided, the Company shall have 30 days from the date of any Default to cure the Default if there is a reasonable chance the Default can be cured.
Contractual Default. If any Loan Party breaches, or a default exists under, any provision of this Agreement, the Note, or any of the other Loan Documents, and such breach or default is not cured within 15 days of the date such breach or default occurs.