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  3. Law: Contract(s)

Cas de Déchéance du Terme

English translation: Event of Default

GLOSSARY ENTRY (DERIVED FROM QUESTION BELOW)
French term or phrase:Cas de Déchéance du Terme
English translation:Event of Default

14:44 Mar 4, 2004
French to English translations [PRO]
Bus/Financial - Law: Contract(s)
French term or phrase: Cas de Déchéance du Terme
term used in a "Avis de Mise à Disposition" letter
F
Event of Default
Explanation:
Clause in credit facilities whereby all sums become immediately payable if certain events occur (insolvency, failure to provide security, developments affecting the value of security given, etc.
Selected response from:

lenkl
Local time: 17:44
Grading comment
Thanks, this is what I had thought but...you can never be too sure :o)
4 KudoZ points were awarded for this answer



Summary of answers provided
5 +3Event of Default
lenkl
4(Event of) acceleration of maturity (due date of the loan etc)
KirstyMacC (X)


  

Answers


8 mins   confidence: Answerer confidence 5/5 peer agreement (net): +3
Event of Default


Explanation:
Clause in credit facilities whereby all sums become immediately payable if certain events occur (insolvency, failure to provide security, developments affecting the value of security given, etc.

lenkl
Local time: 17:44
Specializes in field
PRO pts in category: 67
Grading comment
Thanks, this is what I had thought but...you can never be too sure :o)

Peer comments on this answer (and responses from the answerer)
agree  Vicky Papaprodromou
22 mins
agree  Oana Apetrei
15 hrs
agree  Colin Smith: also known as 'Termination event' (source HSBC trade finance facilities T&C)
1060 days
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58 mins   confidence: Answerer confidence 4/5Answerer confidence 4/5
(Event of) acceleration of maturity (due date of the loan etc)


Explanation:
Already in ProZ.Com as 'expiry of the term' -> other answers include event of default! and close-out.

However, I take issue with all of them.

If you're into Austrian German, Terminverlust is the equivalent in the Gen. Civil Code. Default on payment of one instalment means the balance of the whole loan is accelerated/ speeded up and comes crashing down around the borrower's head.

KirstyMacC (X)
Local time: 16:44
Native speaker of: Native in EnglishEnglish
PRO pts in category: 139

Peer comments on this answer (and responses from the answerer)
neutral  lenkl: The phrase has a similar meaning, but "event of default" is the more standard clause in credit facilities
4 hrs
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