A provision that allows a lender to demand payment of the total outstanding balance or demand additional collateral under certain circumstances, such as failure to make payments, bankruptcy, nonpayment of taxes on mortgaged property, or the breaking of loan covenants.
Related information about acceleration clause:
- Acceleration clause - Wikipedia, the free encyclopedia
An acceleration clause, in the law of contracts, is a term that fully matures the performance due from a party upon a breach of the contract. Such clauses are most ...
- Acceleration clause | LII / Legal Information Institute
For example, most home mortgages have an acceleration clause that is triggered if the borrower misses too many payments. Acceleration clauses most often ...
- Acceleration Clause Definition | Investopedia
... requirements are not met. An acceleration clause outlines the reasons that the lender can demand loan repayment.Also known as "acceleration covenant".
- What is acceleration clause? definition and meaning
Definition of acceleration clause: A provision that allows a lender to demand payment of the total outstanding balance or demand additional collateral under ...
- Acceleration Clause - Legal Dictionary - The Free Dictionary
The provision in a credit agreement, such as a mortgage, note, bond, or deed of trust, that allows the lender to require immediate payment of all money due if ...
- Acceleration Clause | Nolo's Free Dictionary of Law Terms and ...
A contract clause that provides that the entire outstanding amount owed under the contract will become immediately due under certain circumstances.
- What is an Acceleration Clause?
When a mortgage is used to purchase a new home or a piece of property, there is a good chance that the mortgage agreement will include an acceleration ...
- Acceleration clause: Definition from Answers.com
Acceleration Clause Clause in a mortgage bond or promissory note stating that the unpaid balance is payable if specified conditions of default, defined.