n. a provision in a contract or promissory note that if some specified event (like not making payments on time) occurs then the entire amount is due or other requirements are due now, pronto. This clause is most often found in promissory notes with installment payments for purchase of real property and requires that if the property is sold then the entire amount of the note is due immediately (the so-called "due on sale clause"). Some states prohibit "due on sale" and always allow the new property owner to assume the debt.
See also: acceleration assumption
English-Chinese law dictionary (法律英汉双解大词典). 2013.
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acceleration clause — n: a clause (as in a loan agreement) that accelerates the date of payment in full under specified circumstances (as default by the debtor) Merriam Webster’s Dictionary of Law. Merriam Webster. 1996. acceleration clause … Law dictionary
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acceleration clause — noun : a clause (as in a loan contract) providing for advancement of the date of payment under specified circumstances * * * a provision of a mortgage, loan, or the like that advances the date of payment under certain circumstances. [1930 35] * * … Useful english dictionary
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