Did your client default on his rent or not?

您的委托人有没有拖欠房租？

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Should the Lessee be in default of rent payment within the said period, the Lessee agrees that this contract then becomes extinct without any notification.

如果承租人某月逾期未交租金，承租人同意出租人立即从保证金中扣除应收款项作为租金。

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Banks have owned their branches and operational facilities, and prevailed in litigation permitting them to rent out surplus space and receive property pledged as collateral after a default.

ECONOMIST: American banks and property