Cross-default

Cross-default is a contract clause that makes a default under one agreement automatically trigger a default under another agreement, so if a borrower breaches or misses payments on one obligation, a lender under a separate obligation can treat that as an event of default too.
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Ryan Roberts Startup Lawyer
Ryan Roberts is a startup lawyer with more than two decades of experience advising on venture financings and M&A transactions totaling more than $1 billion. He is the author of the Amazon bestselling startup law book Acceleration.