Common use of DEFAULTS IN PAYMENT Clause in Contracts

DEFAULTS IN PAYMENT. Default shall have occurred in case of failure to make payment of EMIs/ PEMIs and/ or Interest and/ or in payment of any other amounts due and payable to the Lender in terms of this Agreement and/ or in terms of any other Agreement/s, Loan Documents, Security Documents that may be subsisting or that may be executed between the Borrower and the Lender hereafter.

Appears in 3 contracts

Sources: Loan Agreement, Loan Agreement, Loan Agreement