Sentence examples for default clause from inspiring English sources
It is uncertain, for instance, whether a pre-emptive restructuring would trigger the default clause in credit-default swaps.
The failure to pay the debt set in motion a default clause on a $450 million credit facility, set to expire in October 2003, that Armstrong had hoped to rely on.
Top revenue generating employees departed, triggering a default clause and depleting the firm's value.
Universal default clause.
Bankers and executives say that across China, developers have slowed construction to the most cash-conserving pace possible without activating default clauses on their loans by stopping work entirely and sending away the cranes.
It doesn't mark the first country to do so: but the others have been proper basket cases like Zimbabwe and Somalia etc. Strangely, this doesn't trigger cross default clauses on all of its other debt: but it does kill off entirely any possibility of the earlier deal being revived.
Some real estate and authority executives expect Mr. Silverstein to demand a rent discount, a deadline extension and, perhaps, the elimination of the so-called cross-default clause.
A policy from a reliable, independent travel insurance company should include a financial-default clause that protects you if fiscal problems at an airline, cruise or tour operator cause "a complete cessation of services". Look for that clause.
Its Polish unit has now filed for creditor protection and the French unit will follow, triggering cross-default clauses in Spain.
Unless Greece's other debtors trigger cross-default clauses in their loan contracts, which seems unlikely, the default shouldn't have much immediate impact on other financial institutions, experts said on Monday.
That might also help avert the possibility of claims for immediate payment, triggered by "cross-default" clauses, from all the country's foreign-law bondholders, not just the ones governed by New York law.The international ramifications of default are also expected to be slight.
