Loan Document Default Clause Samples

A Loan Document Default clause defines what constitutes a default or breach under the terms of a loan agreement. It typically outlines specific events or failures—such as missed payments, failure to maintain required financial ratios, or breaches of other covenants—that trigger a default. When a default occurs, the lender may have the right to accelerate repayment, impose penalties, or take other remedial actions. This clause is essential for allocating risk and providing clear guidelines for both parties on the consequences of failing to meet loan obligations.
Loan Document Default. If any event of default or default shall occur under any other Loan Document, or if under any Loan Document any payment is required to be made by Borrower or any Obligor on demand of Lender, and such demand is made.
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Loan Document Default. A default or an event of default under this Agreement or any other Loan Document.
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Loan Document Default. An Event of Default under any of the other Loan Documents shall occur by Borrower, any Guarantor or any of their respective Subsidiaries.
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Loan Document Default. If any event of default or default shall occur under any other Loan Document.
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Loan Document Default. If any event of default shall occur under any other Loan Document, or if under any Loan Document any payment is required to be made by Borrower or any Obligor on demand of Lender, and such demand is made and has not been timely satisfied.
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Loan Document Default. If any event of default or default that continues beyond any applicable grace or cure period shall occur under any other Loan Document, or if under any Loan Document any payment is required to be made by Borrower or any Obligor on demand of Lender, and such demand is made.
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Loan Document Default. The Borrower shall default in the due observance or performance of any covenant, condition or agreement contained in any Loan Document to which the Borrower is a party or any event of default under any Loan Document shall occur and such default shall continue unremedied for a period of 3 days.
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Loan Document Default. There is no Default on the part of the Borrower under this Agreement, the Note, or the other Loan Documents, and no event has occurred or is continuing which with notice, or the passage of time, or both, would constitute a Default under this Agreement, the Note or the other Loan Documents.
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Related to Loan Document Default

  • Payment Default Borrower fails to (a) make any payment of principal or interest on any Credit Extension on its due date, or (b) pay any other Obligations within three (3) Business Days after such Obligations are due and payable (which three (3) Business Day grace period shall not apply to payments due on the Maturity Date or the date of acceleration pursuant to Section 9.1 (a) hereof). During the cure period, the failure to cure the payment default is not an Event of Default (but no Credit Extension will be made during the cure period);

  • Other Payment Default The Borrower shall default in the payment when and as due (whether at maturity, by reason of acceleration or otherwise) of interest on any Loan or Reimbursement Obligation or the payment of any other Obligation, and such default shall continue for a period of three (3) Business Days.