The phrase "a notice of default" is correct and usable in written English.
It is typically used in legal or financial contexts to refer to a formal notification that a borrower has failed to meet the terms of a loan or agreement.
Example: "The bank sent a notice of default to the homeowner after missing three consecutive mortgage payments."
Alternatives: "default notification" or "default alert".
We will all get a notice of default someday.
The notice we received from the landlord was a Notice of Default and Opportunity to Cure.
At that point, lenders traditionally file a notice of default and the house enters the official foreclosure process.
A Dutch-listed affiliate of the Carlyle Group has not been able to meet some margin calls and has received a notice of default, it said on Thursday.
So Inmarsat has issued a notice of default, giving LightSquared 60 days to come up with the cash or face measures such as terminating the agreement.
A participating FFI may request, within a reasonable period of time, reconsideration of a notice of default or notice of termination by written request to the IRS.
(C) The responsible officer (or designee) will respond to any notice of default (if applicable) or will provide to the IRS, to the extent requested, a description of each material failure and a written plan to correct each such failure.
They also fault the city for failing to send a notice of the default to any of the homeowners or their association.
Separately, Yukos shares fell more than 6percentt on Tuesday to close at $11.56 after Monday's news that a syndicate of foreign lenders had served the company with a notice of potential default on a $1 billion loan.
Last month, a group of Western banks led by Société Générale issued a similar notice of default on a $1 billion loan to Yukos, but the banks have not demanded repayment.
The question before the court was whether Fannie Mae and large financial institutions should be immunized from their failure to send a proper notice of default because the foreclosure took place within a grace period purportedly set in a prior SJC decision.
