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NEW QUESTION: 1
A company employs several short-term credit facilities at any one time to meet its liquidity needs and has consistently demonstrated the ability to service this debt as required. However, because of a temporary breach of a financial covenant of one agreement, all of the company's credit facilities were declared in default. All the credit agreements must have had which of the following types of clause?
A. Discretionary
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C. Cross-default
D. Material adverse change
Answer: C



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