insecurity clause

insecurity clause. A loan-agreement provision that allows the creditor to demand immediate and full payment of the loan balance if the creditor has reason to believe that the debtor is about to default, as when the debtor suddenly loses a significant source of income. Cf. ACCELERATION CLAUSE. [Cases: Bills and Notes 129(1); Secured Transactions 221. C.J.S. Bills and Notes; Letters of Credit §§ 86–89, 91; Secured Transactions §§ 144, 151.]

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词条贡献者

译者陈鹏，毕业于一所培养高级翻译以及跨文化事务专家的精英大学，擅长翻译各种与诉讼及争议解决相关的法律文件。