When I replied I assumed that rositakay already knew the meaning of 'default' which is straightforward enough. I presume the problem arises in this particular clause in which its application is obscure. It sounds as if it has a very specific legal basis.It means "failure to act, especially to pay" - see the first definition in the Wordreference dictionary. The Borrower is saying that it hasn't breached any contracts that it signed, or that apply to any of its property (a mortgage, for example).
No he doesn't, he asks, 'In this Facility Agreement, what could be the meaning of default'. He didn't ask us for a dictionary definition of default (use a dictionary).Well, rotisakay asked "what could be the meaning of default." I'm not sure what is obscure about the sentence, but perhaps some clarification of the question is in order.