cross default meaning

• [Finance]
  A provisions in a bond indenture or loan agreement that puts the borrower in default if the borrower defaults on another obligation.

• cross-default:    [Finance]A provisi ...
• by default:    Because of a failu ...
• default:    Noun: default  ...

Examples

1. Therefore, the company should try to repay small debts to avoid cross defaults.
2. -The company must avoid the " cross default " of the loan.
3. Cross default means default by the borrower on any borrowings will be considered a default on this issue.
4. It is loaded with phrases like " cascading cross defaults . " You've heard Greenspan use that term.
5. There has been talk that the IMF's standby credit may come in the form of " cross default ".