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cross defaulted

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09:24 Oct 12, 2001
English to Spanish translations [PRO]
Bus/Financial
English term or phrase: cross defaulted
It´s a loan agreement, WHEREAS clauses:
WHEREAS, Lender desires that ... the PC Loan Agreement and the BC Loan Agreement be cross defaulted.
Sery
Local time: 02:08
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Summary of answers provided
4 +1cláusula recíproca en caso de incumplimiento
Davorka Grgic
4claúsula de insolvencia recíproca, cláusula de cancelación simultánea de deudaxxxTransOl


  

Answers


24 mins   confidence: Answerer confidence 4/5Answerer confidence 4/5 peer agreement (net): +1
cláusula recíproca en caso de incumplimiento


Explanation:
Eurodicautom:

English Term cross-default clause
Definition a clause in a loan agreement specifying that default on any other loans to the borrower shall be regarded as default on this one
Spanish Term cláusula recíproca en caso de incumplimiento

HTH

HTH



    see above
Davorka Grgic
Local time: 08:08
Native speaker of: Native in CroatianCroatian, Native in SpanishSpanish
PRO pts in pair: 905

Peer comments on this answer (and responses from the answerer)
agree  xxxOso: Absolutely! También la he encontrado así. ¡Saludos! ¶:^)
3 mins
  -> se le agradece.
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2 hrs   confidence: Answerer confidence 4/5Answerer confidence 4/5
claúsula de insolvencia recíproca, cláusula de cancelación simultánea de deuda


Explanation:
Just in case you need to elaborate more ...

This is a debt reciprocal cancelation between two loans in case of the fault. This works like this: In case of default in one of the loan agreements, the other loan agreement is reciprocally cancelled (cross defaulted)up to the limit of the denominated value of the default incurred by the other. I hope it helps.

xxxTransOl
PRO pts in pair: 504
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