technical default

technical default definition - business

technical default

Default under an indenture agreement for other than nonpayment of interest or principal. For example, a borrower may fail to maintain a stipulated level of net working capital.

The American Heritage® Dictionary of Business Terms Copyright © 2009 by Houghton Mifflin Harcourt Publishing Company. Published by Houghton Mifflin Harcourt Publishing Company. All rights reserved.

Comments
Improve this definition.
Do you have more to add? Share your linguistic knowledge or observation.
/Register to save your comments.