💸 Events of default clause
About this category
An events of default clause is a clause in a contract that lists the conditions under which one party can terminate the contract. These conditions are typically things like failure to make payments, breach of contract, or change of control.
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templates
We don't have any templates in this category yet, but we are working on it. As we don't have a template for you to use you will find the details of law firms who may be able to help you listed below.
Associated business activities
Set out events of default
in a contract
1. The events of default clause sets out what will happen if one party to the contract fails to meet their obligations under the contract.
2. This clause is important as it sets out the consequences of a party breaching the contract, and can act as a deterrent to breaching the contract.
3. The events of default clause can also be used to give the other party the right to end the contract, or to claim damages for breach of contract.
