The phrase "act of default" is correct and usable in written English.
It is typically used in legal or financial contexts to refer to a failure to fulfill a contractual obligation or payment.
Example: "The company faced serious consequences due to an act of default on their loan agreement."
Alternatives: "default occurrence" or "failure to perform".
An attempt to sell a mortgaged property at auction, Mr. Weinstein said, would very likely be considered an act of default under most loan agreements.
Second, barring a true act of default — a veritable catastrophe that Mr. Soros told me on Friday "everybody knows won't happen" — it has no chance of losing its reserve currency status anytime soon.
"I suppose the bank might contend that a new title on the property was an act of default on the mortgage and try to make you pay it immediately, but they may also agree to go along" because it is simply less expensive than fighting with you in court.
A separate report from the Congressional Research Service, the research arm of Congress, said signing a drilling lease without prior approval on a property with a mortgage owned or guaranteed by Fannie Mae or Freddie Mac "generally will be considered an act of default under the mortgage".
J. P. Morgan Chase, acting as the agent for a group of banks who had provided the $1.25 billion credit line, told HealthSouth yesterday that the previously announced investigations of the company's accounting by the Securities and Exchange Commission and the Justice Department would have a "material adverse effect" on the company, which, under the terms of the credit line, was an act of default.
With these numbers growing, we have an aperture to politicize the fact of default, make it a positive act, and truly attack the student debt crisis.
oAny postponement or cancellation of the Competition; oAny change to the prize or the way in which it can be used; oAny problems with the dispatch of the prize (such as the prize failing to reach the intended recipient) or the subsequent enjoyment of the prize; oAny act or default of any third party supplier.
Any postponement or cancellation of the Competition; Any change to the prize or the way in which it can be used; Any problems with the dispatch of the prize (such as the prize failing to reach the intended recipient) or the subsequent enjoyment of the prize; Any act or default of any third party supplier.
The Johnson Debt Default Act of 1934 bars credits to countries in default to the United States Government.
o Any postponement or cancellation of the Competition; o Any change to the prize or the way in which it can be used; o Any problems with the dispatch of the prize (such as the prize failing to reach the intended recipient) or the subsequent enjoyment of the prize; o Any act or default of any third party supplier.
Any act or default of any third party supplier.
