A(n)__________ clause in a loan document provides that any breach by the borrower under any other loan agreement constitutes an event of default.

Question

Quizplus · Accepted Answer

A cross-default clause is designed to protect the lender by stipulating that a default under any other loan agreement with any other lender constitutes a default under the agreement in question, potentially leading to immediate repayment demands or other remedies.

A(n)__________ Clause in a Loan Document Provides That Any Breach