acceleration clause

acceleration clause. A loan-agreement provision that requires the debtor to pay off the balance sooner than the due date if some specified event occurs, such as failure to pay an installment or to maintain insurance. Cf. DE-MAND CLAUSE; INSECURITY CLAUSE. [Cases: Bills and Notes 129(2). C.J.S. Bills and Notes; Letters of Credit §§ 76, 92–100.]

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词条贡献者

法律翻译Julie，毕业于一所培养最顶级翻译人才的语言学院，专注翻译各类与欧洲通信法规有关的法律文件。