💸 Events of default clause
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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Set out events of default
If one party to the contract fails to meet their obligations under the contract, the events of default clause sets out the consequences, which can include the other party ending the contract or claiming damages.
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