Final answer:
In Loan agreements, defaults are related to repayment and handling of the loaned assets. Voting the proxy is not related to these financial responsibilities and does not constitute a default.
Step-by-step explanation:
A borrower is considered to have defaulted on a loan if he fails to meet specific obligations outlined by the lending agreement. However, there is one action from the options provided that does not constitute a default. That action is d. voting the proxy.
Default typically includes failures such as not returning the loaned security after proper notice (a. return the loaned security after appropriate notice from the lender), not paying dividends or interest on the loaned securities (b. pay dividends or interest on the loaned securities to the lender), and not meeting a demand for additional collateral (c. meet a demand for additional collateral).
These reflect the financial responsibilities the borrower has to the lender. Voting the proxy does not involve the repayment of the loan itself and is therefore not considered a default action.