Acceleration
/ækˌseləˈreɪʃən/
Definitions
- (n.) The act of hastening the fulfillment of a legal obligation, often to make payment or performance due earlier than originally agreed.
The acceleration clause required the borrower to repay the entire loan immediately after default.
- (n.) In contracts, a provision enabling the creditor to declare the entire debt due upon a triggering event, such as default.
The mortgage contained an acceleration clause allowing the lender to call the full amount due if the borrower missed a payment.
Related terms
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Commentary
In legal drafting, acceleration usually refers to clauses that speed up payment or performance obligations upon certain events. Precise language is critical to clearly define triggering events and consequences.
This glossary is for general informational and educational purposes only. Definitions are jurisdiction-agnostic but reflect terminology and concepts primarily drawn from English and American legal traditions. Nothing herein constitutes legal advice or creates a lawyer-client relationship. Users should consult qualified counsel for advice on specific matters or jurisdictions.