The provision in a credit agreement, such as a mortgage, note, bond, or deed of trust, that allows the lender to require immediate payment of allmoney due if certain conditions occur before the time that payment would otherwise be due.
The agreement may call for acceleration whenever there is a default of any important obligation, such as nonpayment of principal or interest, or the failure to pay insurance premiums.
"Acceleration Clause." West's Encyclopedia of American Law. . Encyclopedia.com. (September 18, 2018). http://www.encyclopedia.com/law/encyclopedias-almanacs-transcripts-and-maps/acceleration-clause
"Acceleration Clause." West's Encyclopedia of American Law. . Retrieved September 18, 2018 from Encyclopedia.com: http://www.encyclopedia.com/law/encyclopedias-almanacs-transcripts-and-maps/acceleration-clause
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