technical default

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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Not only is it possible that we may need to see sovereign technical default and/or blocked Greek bank deposits in order to come to an accommodation between Greece and its official creditors, it may be necessary to do so in order to break the current impasse in negotiations.
Director-General of Khartoum Air Port, Salah Salam said in a statement to SUNA, that accident was caused by natural conditions and he denied that it was occurred due to technical default in the helicopter.
Petrobras, Brazil's state-run oil company, could be declared in technical default on some of its foreign debt if bondholders pursue efforts to force it to speed up its assessment of losses in a giant corruption scandal.
notification of a technical default on the Convertible Loan Note
This includes the commercial real estate sector, where owners will either go into technical default on existing loans (if they lack terrorism coverage), or be unable to obtain financing for new projects, as lenders require terrorism insurance on the loan collateral.
Over the past few months rumors have circulated that NEK is in a state of technical default and that precisely is financial problems triggered a dispute with electricity distribution companies (EDCs) over hundreds of millions of BGN it is allegedly to receive from them.
A technical default on some of the most important "riskless" assets in global capital markets could give us quite a bumpy ride.
Even if a technical default is cured immediately, foreign demand for treasuries would be permanently impaired," its report said.
A debt services default occurs when the borrower has not made a scheduled payment of interest and a technical default is a failure to uphold some other aspect of the loan terms.
The idea of a technical default, essentially delaying interest payments for a few days, has gained a backing from a number of Republicans.
Reports surfaced this morning that a technical default on the loan was imminent, though the news was hardly surprising to the city's real estate community, which has been closely watching the beleaguered property in recent months.
State railroad administration of Ukraine (Ukrzaliznytsya) is in technical default on its debut syndicated loan arranged by Barclays in 2007.

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