Legal Dictionary of Pakistan
Quick lookup for English, Urdu, and Latin legal terms used in Pakistani jurisprudence.
Acceleration
The advancing of a loan agreement's maturity date so that payment of the entire debt is due immediately. 2. The shortening of the time for vesting in possession of an expectant interest. - Also termed acceleration of remainder. 3. Property. The hastening of an owner's time for enjoyment of an estate because of the failure of a preceding estate. 4. Securities. The SEC's expediting of a registration statement's effective date so that the registrant bypasses the required 20-day waiting period. - accelerate, ub.
acceleration clause
A loan-agreement provision that requires the debtor to pay off the balance sooner than the due date if some specified event occurs, such as failure to pay an installment or to maintain insurance. Cf. INSECURITY CLAUSE.
acceleration of remainder
See ACCELERATION (2).