Common use of Automatic Acceleration and Assumptions Clause in Contracts

Automatic Acceleration and Assumptions. (a) Xxxxxxx Mac will enforce the terms of a mortgage that gives the mortgagee the right to demand full payment of the unpaid principal balance of the Mortgage upon sale or transfer of the property securing the Mortgage regardless of the creditworthiness of the transferee (a right of "automatic acceleration''),as permitted by applicable state and federal law and to the extent consistent with its then-current servicing policies.

Automatic Acceleration and Assumptions. (a) Xxxxxxx Freddie Mac will enforce the terms of a mortgage that gives the mortgagee the right to demand full payment of the unpaid principal balance of the Mortgage upon sale or transfer of the property securing the Mortgage regardless of the creditworthiness of the transferee (a right of "automatic acceleration''),as permitted by applicable state and federal law and to the extent consistent with its then-current servicing policies.

Automatic Acceleration and Assumptions. (a) Xxxxxxx Mac will enforce the terms of a mortgage that gives the mortgagee the right to demand full payment of the unpaid principal balance of the Mortgage upon sale or transfer of the property securing the Mortgage regardless of the creditworthiness of the transferee (a right of ""automatic acceleration''),as acceleration''), as permitted by applicable state and federal law and to the extent consistent with its then-current servicing policies.