Default is commonly defined in security agreements as $$ a right granted to a secured creditor to take possession of the collateral on default by the debtor

the right of a debtor to recover personal property that is collateral for a secured transaction after the debtor's default and before the creditor has disposed of the property by paying the secured creditor the full amount of the debt plus costs

a secured creditor's repossession of collateral on a debtor's default and proposal to retain the collateral in satisfaction of the debtor's obligation

an event like failing to make scheduled payments when due, bankruptcy of the debtor, and breach of the warranty of ownership as to the collateral

IDON'T KNOWYET