Real Estate Glossary

Cross-defaulting

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Richard Wilson
Written by Richard Wilson

This is a clause in a loan agreement or bond that puts a borrower in default if they default on another responsibility. Cross-default provisions protect the interest of the lenders and encourage repayment.

This is a clause in a loan agreement or bond that puts a borrower in default if they default on another responsibility. Cross-default provisions protect the interest of the lenders and encourage repayment.

About the author

Richard Wilson

Richard Wilson

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