A technical default can result from failure to keep the property in repair.

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A technical default can result from failure to keep the property in repair. Technical default refers to a situation where the borrower has not breached any specific loan covenant but has failed to comply with some technical provision in the loan agreement, such as failing to maintain the property in good condition. This can trigger a default event, which may result in acceleration of the loan and the lender may demand immediate payment of the outstanding amount.

A Technical Default Can Result from Failure to Keep the Property