Common use of Definition of Default Clause in Contracts

Definition of Default. Each of the following events may be declared by EIB, following the fulfilment of the respective condition mentioned in Clause 9.2 (if any) for the making of demand on the Borrower for repayment of the Loan or part thereof, to be an Event of Default and to give rise to the right to take the action set forth in Clause 9.2, that is to say:-

Definition of Default. Each of the following events may be declared by EIB, following the fulfilment of the respective condition mentioned in Clause 9.2 (if any) for the making of demand on the Borrower for repayment of the Loan or part thereof, EIB to be an Event of Default and to give rise to the right to take the action set forth in Clause 9.210.2, that is to say:-