释义 |
`1`acceleration clause `2` "DUHAIME'S ONLINE LEGAL DICTIONARY"
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. |