Canonical JSON
{
"id": "demo-clause-facility-agreement-eod",
"clause_id": "FA-EOD-001",
"source_instrument": "Facility Agreement",
"instrument_reference": "Clause 21.1",
"clause_type": "event_of_default",
"text": "Synthetic demo clause: non-payment after the applicable grace period creates an event of default review item for the facility agent and security trustee.",
"plain_english_summary": "A missed payment after the grace period should open a human-reviewed default workflow.",
"parties": [
"Borrower",
"Facility Agent",
"Security Trustee",
"Lenders"
],
"rights": [
"Facility Agent may request supporting payment evidence.",
"Security Trustee may receive an approval package for review."
],
"obligations": [
"Borrower must provide cure evidence or payment confirmation.",
"Facility Agent must record the review outcome."
],
"prohibitions": [
"The application must not self-execute enforcement or transfer assets."
],
"trigger_events": [
{
"id": "trigger-fa-payment-overdue",
"trigger_id": "TRG-FA-NONPAY-001",
"name": "Payment overdue after grace period",
"description": "Payment remains outstanding after the synthetic grace-period window.",
"source_clause_id": "FA-EOD-001",
"state_variable": "payment_overdue_days",
"comparator": "greater_than_or_equal",
"threshold": 3,
"evidence_requirements": [
{
"id": "evidence-req-fa-ledger",
"requirement_id": "EVR-FA-LEDGER",
"description": "Payment ledger extract and account-bank confirmation.",
"evidence_type": "ledger_extract",
"source_party": "Facility Agent",
"required_for_state_transition": true,
"validation_method": "canonical_hash_and_human_review",
"due_within_days": 1
}
]
}
],
"dependencies": [
"definition-payment-date",
"definition-grace-period"
],
"state_variables_read": [
"payment_overdue_days",
"grace_period_days"
],
"state_variables_written": [
"event_of_default_review_open"
],
"jurisdiction": "England and Wales",
"governing_law": "English law",
"version_id": "FA-EOD-001-v1",
"effective_from": "2026-03-14",
"effective_to": null,
"risk_rating": "high",
"lawyer_review_status": "reviewed",
"notes": "Synthetic Facility Agreement clause for demo validation only."
}