A(n)__________ Clause in a Loan Document Provides That Any Breach

question 54

Multiple Choice

A(n) __________ clause in a loan document provides that any breach by the borrower under any other loan agreement constitutes an event of default.

• A) attached
• B) dragnet
• C) cross-default
• D) cross collateralization

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Definitions:

Gasoline Mixed

A combination of gasoline and another substance, such as oil, used in the engines of certain types of vehicles or equipment.

Ethanol

A volatile, flammable, clear liquid commonly used as a biofuel and in the manufacturing of various chemical compounds.

Methane

A potent greenhouse gas with a significant impact on global warming, more effective than carbon dioxide over a short period.

Butane

A hydrocarbon gas that is a constituent of natural gas and petroleum, used as fuel, in cigarette lighters, and as a propellant in aerosol sprays.