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 .