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Cross Default

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Cross Default
A provisions in a bond indenture or loan agreement that puts the borrower in default if the borrower defaults on another obligation.

Notes:
This provides more security to the lender. You can think of this as an "out-clause" to the contract.

Also known as cross acceleration.
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a cross default clause, and (ii) if tenant fails to replenish the security deposit after landlord has applied any part of it to any rent or additional rent default.
Conditional limitation clause: a powerful remedy for landlord by Real Estate Weekly
He said Federal Express has refused to agree to a so-called cross default provision in which all LAX-Federal Express agreements would be invalid if the carrier failed to live up to the terms of any single contract.
LAX clashes with Federal Express over mail carrier's expansion plan by Deady, Tim / Los Angeles Business Journal
The facility includes cross default provisions and a change of control provision (with 30% or more voting control), which Fitch anticipates would be triggered by this transaction.
Fitch Places Triad Hospitals, Inc. on Rating Watch Negative by Business Wire
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