Meaning of ACCELERATION CLAUSE in English
- ACCELERATION CLAUSE
A clause in a contract that states that if a payment is missed, or some other default occurs (such as the debtor becoming insolvent ), then the contract is fully due immediately. This is a typical clause in a loan contract; miss one payment and the agreement to pay at regular intervals is voided and the entire amount becomes due and payable immediately.
Duhaime's Law English dictionary. Английский юридический словарь Duhaime . 2012