Concerning The Cross Default Clauses In The Contract

Cross default clauses are widely used in the international syndicated loan agreement.With the rapid development of market economy in our country the increase of the activity,as the risk of cross widespread application in the default clause in the contract.Cross default clauses are common in lending in the contract,usually in order to protect the creditors upon the expiry of the contract,if the debtor has cross default behavior,the contract of the interests of the creditors may be the same with other creditors by.Cross default clause is one of the acceleration clause expired or expected default form.At present,the domestic scholars study of cross default is less,our country's general principles of the civil law and contract law also do not have specific provision to this.So cross default clauses often face the plight of "difficult to conclude a easy processing".The thesis Try to through the way of combining the theory of law and small case to explore cross default start up after treatment,there are include two aspects: one is from the perspective of legal effect to discuss the applicable scope of the cross default clause and limit;two from the Angle of the legal consequences of the cross comparison of default and other system.the text is divided into five chapters.The first chapter is the introduction part,mainly includes the review of current research in domestic,in this paper,the research significance,research contents and research methods.The second chapter is a summary of cross default clause.First of all,clarifying the concept,characteristics of cross default and the difference with relevant concepts,and then analysis the function of the cross default clauses and legal basis,and finally inspects the provisions of the laws and regulations about cross default clauses in China.The third chapter is the applicable scope of the cross default clauses and restrictions.Cross default provisions is inclined to maintain the interests of creditors,meanwhile gives the debtor more risk burden,in order to prevent the creditors' abuse of power,so it is necessary to cross default clauses to limit.This section first according to the current law of our country to analyze the effectiveness of the cross default clauses;Go on to the start up conditions and restrictions on the cross default clauses,mainly from the main body of breach amount,nature of the debt,default properties of these four aspects.The fourth chapter is crossing the legal consequences of default.Cross default clauses can produce a series of legal consequences between the parties.The part mainly legal consequence,there are bear the liability for breach of contract,the exercise of real rights for security and bankruptcy liquidation.The last is conclusion.It is mainly a summary and outlook of this thesis.