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Delete Cross from the Facility Agreement

Delete Cross from the Facility Agreement

Aug 6th, 2022

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How to Delete Cross from the Facility Agreement

4.7 out of 5

19 votes

what is the most deadly contract term that you dont even know exists in your contract lets get started hey everybody this is Alex Barnett with the lean zone.com today Im going to talk about cross default provisions and why they are the deadliest contract term you dont even know that exists in your contract so lets talk about what a cross default provision is it is a contract provision that says that if you default on your contract the contractor or the owner can hold you in default on any other contract you have even if those other contracts are not in default so let me tell you about a story of a contractor that were dealing with now thats having this exact problem because of this provision they are a drywall contractor and they have three contracts with a general contractor and that contract each of those contracts has a cross default provision they are allegedly in default on one of the contracts and not in default at all on two others but the contractor claims that the damag

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