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| Definition Of: |
ACCELERATION CLAUSE
A contract stating that the unpaid balance becomes due and payable if specific actions transpire, such as failure to make interests payments on time.
A provision normally found in a legal loan document, (mortgage contract) which requires the immediate payment of a specified debt when the principal fails to meet the terms and conditions of the note.
Condition in a mortgage that may require the balance of the loan to become due immediately, if regular mortgage payments are not made or for breach of other conditions of the mortgage.
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General INDEX:
List of Terms: Terms beginning with "A", Page 1 |
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1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 A: Page 1 of 37.
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