default in the payment

基本解释

The penalty clause entitled the plaintiff, in the event of default in payment, to extract a pound of flesh nearest the defendant’s heart.
合同的惩罚条款，授权原告在发生履行迟延（default）的情况下，从被告心脏附近割下一磅肉来。
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。
Commitment should be made in advance that in case Party B is in default of payment, the interest rate of 15% per year shall be borne to Party B in addition to the payment.
乙方应事先做出承诺：如果乙方拖欠付款，则除了付款之外，乙方每年还要另支付15% 的利息；
www.1x1y.com.cn

In the meantime, threatening default on the interest payment is an important club Clearwire has to swing at Sprint.
FORBES: Clearwire Plays Hardball As Sprint Stays Stuck On Moneyball
Both could very likely get lower interest rates from private lenders if those lenders got the promise of a part-gold payment in the event of default.
FORBES: End The Euro Zone Crisis Now: Let PIIGS Borrow Against Their Gold
The deal, in theory, avoids the possibility of a imminent default on US payment obligations and lets Republicans off the hook.
FORBES: On Washington, Investor Confidence At Zero