acceleration clause
acceleration clause · acceleration clauses
A provision in a contract that makes all obligations to be performed under the…A provision in a contract that makes all obligations to be performed under the contract due immediately upon a specific occurrence, such as a breach
Meaning
1 sensesA provision in a contract that makes all obligations to be performed under the contract due immediately upon a specific occurrence, such as a breach
Joe was mortified to learn that his failure to make a scheduled car payment triggered an acceleration clause requiring that the entire balance due on the car be paid immediately.
Forms
plural: acceleration clauses| Singular | acceleration clause |
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| Plural | acceleration clauses |
regular