Occurrences that may trigger an event of default include non-repayment of a loan at maturity, breach of contract and declaration of bankruptcy. Event of default clauses can be included not only in loan and lease agreements, but also in business agreements such as joint ventures and partnerships. Such a clause can allow the non-defaulting parties to exit a broken agreement.
випадки невиконання зобов'язань; неплатіж; порушення зобов'язань; невиправність боржника; подія, що спричиняє невиконання зобов'язань; дефолт (розм.)