Option to Accelerate Clause Samples
The "Option to Accelerate" clause grants a party, typically a lender or creditor, the right to demand immediate payment of all outstanding obligations if certain conditions are met, such as a default or breach of contract. In practice, this means that if the borrower misses a payment or violates a key term, the lender can require the full loan balance to be paid at once rather than following the original payment schedule. This clause serves to protect the lender by providing a mechanism to respond swiftly to risks of non-payment, thereby allocating risk and incentivizing the borrower to comply with the agreement's terms.
Option to Accelerate. The seller may by written notice to the buyer demand that the buyer immediately pay all amounts due under this invoice in the event of the insolvency, bankruptcy, reorganization, receivership, or liquidation by the buyer or if the seller believes in good faith that the prospect of the buyer paying those amounts has or is likely to be impaired. By accepting the Products, the buyer is representing that it is not then insolvent within the meaning of Article 2 of the Enterprise Bankruptcy Law of the People's Republic of China.
Option to Accelerate. The seller may by written notice to the buyer demand that the buyer immediately pay all amounts due under this invoice in the event of the insolvency, bankruptcy, reorganization, receivership, or liquidation by the buyer or if the seller believes in good faith that the prospect of the buyer paying those amounts has or is likely to be impaired. By accepting the Products, the buyer is representing that it is not then insolvent within the meaning of Title 11, United States Code (or any similar federal or state law), or any equivalent Law in the applicable jurisdiction for sales made outside of the United States.
Option to Accelerate. Either PATRIOT or JOM may, by written notice to the Buyer, demand that the Buyer immediately pay all amounts due to PATRIOT if PATRIOT believes in good faith that the prospect of the Buyer paying those amounts has been impaired. By accepting the Products, the Buyer represents that it is not then insolvent within the meaning of Title 11, United States Code, or any similar federal or state law.
Option to Accelerate. JOM may, by written notice to the Buyer, demand that the Buyer immediately pay all amounts due to JOM if ▇▇▇ believes in good faith that the prospect of the Buyer paying those amounts has been impaired. By accepting the Products, the Buyer represents that it is not then insolvent within the meaning of Title 11, United States Code, or any similar federal or state law.
Option to Accelerate. If (i) any of the events described in Sections 34, 35, 36 and 37 above shall occur so that the Bank shall incur any Reserve Costs, Capital Adequacy Costs or Change in Law Costs, or (ii) any change in any applicable Law increases the costs to the Bank with respect to the Deposit Account, the Accrued Interest Deposit Account, the Guaranty, this Agreement, the Loan or the Loan Agreement, then, unless the Bank has been paid the additional amounts as required by this Agreement, then the Bank, in its sole discretion, may exercise it rights and remedies under Section 8 of this Agreement. Additionally, if in the opinion of the Bank the continued granting of the Loan or maintenance of the Deposit Account becomes unlawful, then the Bank, in its sole discretion, may exercise it rights and remedies under Section 8 of this Agreement.
Option to Accelerate. The Seller may by written notice to the Buyer demand that the Buyer immediately pay all amounts due under this Quote in the event of the insolvency, bankruptcy, reorganization, receivership, or liquidation by the Buyer or if the Seller believes in good faith that the prospect of the Buyer paying those amounts has or is likely to be impaired. By accepting the Products, the Buyer is representing that it is not then insolvent within the meaning of ▇▇▇▇▇ ▇▇, ▇▇▇▇▇▇ ▇▇▇▇▇▇ Code, or any similar federal or state law.