单词 | acceleration clause |
释义 | > as lemmasacceleration clause acceleration clause n. Law and Finance a provision in a loan agreement, mortgage, etc., that stipulates the immediate repayment of a debt to the lender upon breach of contract. ΚΠ 1880 Irish Law Times & Solicitors' Jrnl. 8 May 233/2 Interpreted otherwise than as a penalty, the acceleration clause is in appearance, if not in reality, most extortionate. 1930 Virginia Law Rev. 17 80 There was an acceleration clause providing that the entire debt should fall due at the mortgagee's option at the expiration of twenty days after a default of any interest payment. 2000 Land (N. Richmond, New S. Wales) 1 June 26/2 By this guise of the ‘acceleration’ clause, the bank can ignore the arrears of interest for the missed instalment and demand the full $1 million. < as lemmas |
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