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Acceleration clause
Clause used in an instalment note and mortgage (or deed of trust), which gives the lender the right to demand payment in full upon the happening of a certain event, such as failure to pay an instalment by a certain date, change of ownership without the lender's consent, destruction of property, or other event which endangers the security of the loan.
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- Part of Speech: noun
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- Industry/Domain: Business services
- Category: Relocation
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