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technical default

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technical default
Default under an indenture agreement for other than nonpayment of interest or principal. For example, a borrower may fail to maintain a stipulated level of net working capital.
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In a July lawsuit filed in New York State Supreme Court, Five Mile alleges that Africa Israel and Mexico City-based lender Banco Inbursa conspired to foreclose on the property through a technical default and wipe out the interest of the junior lenders -- including Five Mile, which had a $79 million mezzanine loan.
Lender infighting on the rise by Jones, David / The Real Deal
PML-N leader said as far as default on technical grounds is concerned, according to State Bank latest rules, if a man failed to pay 3 to 6 instalments consecutively, then 25 percent of the total loan against him is included in technical default and 50 percent is included in case of failure to pay 6 to 11 instalments.
Govt accused of selling HBFC on nominal prices for commission by Balochistan Times (Baluchistan Province, Pakistan)
PML-N leader said as far as default on technical grounds is concerned, according to State Bank latest rules, if a man failed to pay 3 to 6 instalments consecutively, then 25 percent of the total loan against him is included in technical default and 50 percent is included in case of failure to pay 6 to 11 instalments.
Govt accused of selling HBFC on nominal prices for commission by The Frontier Star (Northwest Frontier Province, Pakistan)
 
 
 
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