redefaults

Example:The company redefaulted on its loan, leading to increased financial strain.

Definition:The act of redefaulting on a loan or debt, becoming due again after a period of grace or terms have expired.

Example:The redefault period for the loan was six months into the extended repayment plan.

Definition:The time frame after which a previously rescheduled debt or obligation becomes due again.

Example:The mortgage agreement includes a redefault clause that triggers automatic settlement if the payments are not resumed within 30 days.

Definition:A clause in a legal document that specifies the conditions under which a debt or obligation will redefault.