acceleration clause

"acceleration clause" is a term of Time (read more...)

definition of acceleration clause:

a standard loan agreement provision that shortens the maturity date, should some event occur such as the debtor's failure to make scheduled payments.

acceleration clause, in an example:

Fiona's mortgage contract contains an acceleration clause that allows the bank to shorten the maturity date if she defaults on her agreement to make payments in a timely manner.

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