Holder prior to a designation of a default under the NOTE or WRITTEN. Recent Related Announcements The table below provides references to recently issued Announcements that are related to this topic. Non-Monetary Default. If any Owner Event of Default (other than a payment default as described in Section 13.5.1 above) occurs, then (a) to the extent such Owner Event of Default materially and adversely affects Contractor’s ability to achieve any of the Required Contract Dates, increases Contractor’s cost to perform the Work or otherwise adversely affects the provisions of this Agreement, Contractor, if it so requests, shall be entitled, and Owner shall execute, a Change Order as provided in Section 10.3, 10.4, 10.5 and 10.7 (b) Contractor shall be entitled to any other right or remedy permitted under this Agreement (other than termination if such Owner Event of Default can be fully cured by a Change Order issued in accordance with Article 10 and in compliance with Applicable Legal Requirements) as a result of such Owner Event of Default, and (c) Contractor shall be entitled to suspend its performance of the Work, such suspension to become effective upon Owner’s receipt of Notice thereof from Contractor. As you are no longer able to maintain your original contractual repayments with your creditors, they are entitled to place a default notice on your credit. DESIGNATION OF DEFAULT AND REMEDIES: LENDER shall give notice to BORROWER and Senior Lien. The following table outlines the requirements for a payment reminder notice.

Notice of loan default template