<owl:Class xmlns="https://folio.openlegalstandard.org/" xmlns:dc="http://purl.org/dc/elements/1.1/" xmlns:v1="http://www.loc.gov/mads/rdf/v1#" xmlns:owl="http://www.w3.org/2002/07/owl#" xmlns:rdf="http://www.w3.org/1999/02/22-rdf-syntax-ns#" xmlns:xsd="http://www.w3.org/2001/XMLSchema#" xmlns:folio="https://folio.openlegalstandard.org/" xmlns:rdfs="http://www.w3.org/2000/01/rdf-schema#" xmlns:skos="http://www.w3.org/2004/02/skos/core#" rdf:about="https://folio.openlegalstandard.org/R7U0Y6j3u18HyTLnqyoaqFq">
  <rdfs:subClassOf rdf:resource="https://folio.openlegalstandard.org/RC2fjcpsEbrVvVymvt4oASx"/>
  <rdfs:label>Breach of Loan Contract</rdfs:label>
  <skos:altLabel>Borrower Default</skos:altLabel>
  <skos:altLabel>Debt Default</skos:altLabel>
  <skos:altLabel>Loan Agreement Breach</skos:altLabel>
  <skos:altLabel>Loan Payment Default</skos:altLabel>
  <rdfs:seeAlso rdf:resource="https://folio.openlegalstandard.org/R7xqVevh0JKSwX977TRIZQV"/>
  <rdfs:seeAlso rdf:resource="https://folio.openlegalstandard.org/R9G7d3XzmmtzTlQIdMFMWGa"/>
  <skos:prefLabel>Loan Default</skos:prefLabel>
  <skos:definition>A Loan Default occurs when a borrower fails to meet the legal obligations or conditions of a loan agreement, typically involving missed payments or breach of other terms. This default triggers legal consequences and can lead to actions such as foreclosure, repossession, or litigation.</skos:definition>
</owl:Class>