Default means Clause Samples
The "Default means" clause defines what constitutes a default or breach under the agreement. It typically outlines specific actions or failures—such as non-payment, failure to perform obligations, or insolvency—that will trigger a default. By clearly specifying these conditions, the clause ensures both parties understand the circumstances that may lead to enforcement actions or remedies, thereby reducing ambiguity and helping to manage risk in the contractual relationship.
POPULAR SAMPLE Copied 1 times
Default means. 1.1.15.1 an Event of Default; or
1.1.15.2 the occurrence of any event which will become an Event of Default if it has not been remedied by the time that the applicable grace period has expired or, as the case may be, by the time that the required notice has been given and has expired;
Default means. 1.1.18.1. an Event of Default; or
1.1.18.2. any event or circumstance specified in Clause 21 (Events of Default) which (with the expiry of any applicable grace period, the giving of notice, the making of any determination under the Finance Documents or any combination of any of the foregoing) would be an Event of Default;
Default means an Event of Default; or
Default means. (a) an Event of Default; or
(b) any event or circumstance which (with the expiry of any applicable grace period, the giving of notice, the making of any determination under the Finance Documents or any combination of any of the foregoing) would be an Event of Default.
Default means a Major Default;