Loan Agreements Commonly Have Cross-Default Provisions Allowing a Lender to Collect

question 46

True/False

Loan agreements commonly have cross-default provisions allowing a lender to collect its loan immediately if the borrower is in default on a loan to another lender.

---

Definitions:

Mandatory Helmets

Laws or regulations requiring the wearing of helmets for certain activities, such as bicycling or motorcycle riding, to reduce the risk of head injuries.

Firearms

Weapons that launch one or more projectiles at high velocity through the confined burning of a propellant.

Immunizations

The method of providing immunity or resistance to infectious diseases in individuals, usually through the application of vaccinations.

Staircase

A set or series of steps and platforms that allow for the upward or downward passage between different levels of a building or structure.