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Cross Default

   时间:2018-05-02 21:21:40     浏览:122    评论:0    
核心提示:A provisions in a bond indenture or loan agreement that puts the borrower in default if the borrower defaults on another obligation. Also known as "cross acceleration". |||This provides more security to the lender. You can think of this as an &q


A provisions in a bond indenture or loan agreement that puts the borrower in default if the borrower defaults on another obligation.

Also known as "cross acceleration".

|||This provides more security to the lender. You can think of this as an "out-clause" to the contract.





 
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