Difference between revisions of "Default Event"
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== Definition == | == Definition == | ||
| − | '''Default Event''' is a legal condition that follows from a borrower (or counterparty) to a financial contract not honoring their obligations. It is a [[Credit Event]] representing a failure to meet a contractual obligation, such as, but not limited to, failure to pay | + | '''Default Event''' is a legal condition that follows from a borrower (or counterparty) to a financial contract not honoring their obligations. It is a [[Credit Event]] representing a failure to meet a contractual obligation, such as, but not limited to, failure to pay. |
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| + | This is typically a category of clauses described in further detail a [[Loan Agreement]]. | ||
[[Category:Credit Events]] | [[Category:Credit Events]] | ||
[[Category:Credit Risk]] | [[Category:Credit Risk]] | ||
Latest revision as of 16:39, 15 June 2023
Definition
Default Event is a legal condition that follows from a borrower (or counterparty) to a financial contract not honoring their obligations. It is a Credit Event representing a failure to meet a contractual obligation, such as, but not limited to, failure to pay.
This is typically a category of clauses described in further detail a Loan Agreement.
