Acceleration Clause definition

Acceleration Clause means any provision in the contract between the bank and the card holder that gives the bank the right to demand the obligation in full in case of default or non-payment of any amount due or for whatever valid reason;
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Acceleration Clause the bank’s right to demand immediate and full payment of all amounts due in the event of conditions provided for under art. 1186 of the Italian Civil Code.
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Acceleration Clause means that should the Common shares of the Company, traded on the TSX-V, trade at a volume weighted average price exceeding $0.17 per Common share for a period of 7 consecutive trading days. At that time the Issuer may, at its discretion, deliver a notice (the “Notice”) to the Warrant holders notifying such Warrant holders that they must exercise their Warrants within thirty (30) days from the date of such Notice.
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Examples of Acceleration Clause in a sentence

  • Acceleration Clause - A clause in a Deed of Trust or Note that accelerates or hastens the time when the debt becomes due.

  • My determination that Defendants did not breach their obligation to pay either the Monotherapy or the Combination Milestones obviates the need to take up Plaintiffs’ claim under the Acceleration Clause.

  • Each of the events or circumstances set out in this Clause 28 is an Event of Default (save for Clause 28.19 (Acceleration), Clause 28.20 (Portfolio-wide Materiality) and Clause 28.21 (Clean-Up Periods), and subject to Clause 28.20 (Portfolio-wide Materiality)).

  • Because of the requirement to maintain a lock box arrangement with Webster and Webster’s ability to invoke a subjective acceleration clause at its discretion, borrowings under the Credit Facility are classified as current at September 30, 2006 and December 31, 2005, in accordance with EITF 95-22, Balance Sheet Classification of Borrowings Outstanding Under Revolving Credit Agreements That Include Both a Subjective Acceleration Clause and a Lock-Box Agreement.

  • The Supply Agreement includes an Acceleration Clause for the repayment of the $45,000 Advance upon the occurrence of certain events.

  • Pursuant to the Purchase Agreement, Coach Works sold substantially all of the Body Shop’s assets to M&M Collision, thereby triggering the Acceleration Clause.

  • Acquisition, integration and other costs for the three months ended June 30, 2015 were $13.0 million and were comprised of acquisition costs of $5.0 million, a refinery billing adjustment of $3.2 million, integration costs of $3.1 million and otherone-time costs.

  • If, at any time prior to the Expiry Time, the volume weighted average price of the Common Shares on the CSE is equal to or greater than $3.81 per Common Share over a period of ten (10) consecutive trading days then, at any time thereafter, subject to the Company giving notice to the Warrantholders in the manner set forth in Section 10.2, the Warrants shall expire upon not less than fifteen days' notice (the "Acceleration Clause").

  • MORTGAGES IN GENERAL Contain the following:  Eminent Domain Clause or Acceleration Clause  Requiring the proceeds to be applied to the unpaid balance to the mortgage holder  If the proceeds of funds are NOT applied to the unpaid balance.

  • Each of the events or circumstances set out in this Clause 24 is an Event of Default (save for Clause 24.21 (Acceleration), Clause 24.22 (Clean-Up period) and Clause 24.23 (Excluded Obligors)).


More Definitions of Acceleration Clause

Acceleration Clause. The EMPLOYEE agrees that in the event the EMPLOYEE fails to make any payment due under any payment plan established pursuant to this agreement in a timely manner, all sums due under the payment plan shall become immediately due and payable. Further, the parties agree that such action shall entitle the CITY to pursue legal remedies for the entire balance immediately. Consideration: The parties hereto expressly acknowledge the existence of consideration to support this agreement, the adequacy and sufficiency of which is duly acknowledged.
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Acceleration Clause means if the closing price of the Common Shares on the Exchange is equal to or greater than $0.25 for a period of twenty (20) consecutive days, the Corporation will have the right to accelerate the expiry of the Warrants, by giving written notice to the holders of the Warrants that the Warrants will expire at 5:00 p.m. (Calgary time) on a date that is not less than thirty (30) days from the date notice is given;
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Acceleration Clause means following a Trigger Event, the option of the Corporation to accelerate the expiry date of the Warrants to the date that is thirty (30) days from such Trigger Event;
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Related to Acceleration Clause

  • Acceleration Event of Default means an Event of Default under Section 5.1(a), (d), (e) or (f), whatever the reason for such Acceleration Event of Default and whether it shall be voluntary or involuntary or be effected by operation of law or pursuant to any judgment, decree or order of any court or any order, rule or regulation of any administrative or governmental body.

  • Acceleration Event means the occurrence of an Event of Default (a) in respect of which Agent has declared all or any portion of the Obligations to be immediately due and payable pursuant to Section 10.2, (b) pursuant to Section 10.1(a), and in respect of which Agent has suspended or terminated the Revolving Loan Commitment pursuant to Section 10.2, and/or (c) pursuant to either Section 10.1(e) and/or Section 10.1(f).

  • Deemer clause means a provision under this title under which upon the

  • Acceleration as defined in Subsection 9.1(e).

  • Acceleration Notice shall have the meaning specified in Section 6.2.

  • O & M Default means any default on the part of the Power Producer for a continuous period of ninety (90) days to (i) operate and/or (ii) maintain (in accordance with Prudent Utility Practices), the Project at all times.

  • Nonpayment of premium means the failure or inability of the named insured to discharge any obligation in connection with the payment of premiums on a policy of insurance subject to this section, whether such payments are payable directly to the insurer or its agent or indirectly payable under a premium finance plan or extension of credit;

  • Acceleration Request means a request pursuant to Operating Agreement, Schedule 1, section 1.9.4A, and the parallel provisions of Tariff, Attachment K-Appendix, section 1.9.4A, to accelerate or reschedule a transmission outage scheduled pursuant to Operating Agreement, Schedule 1, section 1.9.2 or Operating Agreement, Schedule 1, section 1.9.4, and the parallel provisions of Tariff, Attachment K-Appendix, section 1.9.2 or Tariff, Attachment K-Appendix, section 1.9.4.

  • Obligation Acceleration means one or more Obligations in an aggregate amount of not less than the Default Requirement have become due and payable before they would otherwise have been due and payable as a result of, or on the basis of, the occurrence of a default, event of default or other similar condition or event (however described), other than a failure to make any required payment, in respect of a Reference Entity under one or more Obligations.

  • Acceleration Right means the Participant’s right, in certain circumstances, to exercise its outstanding Option as to all or any of the Common Shares in respect of which such Option has not previously been exercised and which the Participant is entitled to exercise, including in respect of Common Shares not otherwise vested at such time;

  • Acceleration Date means the earlier of the date of stockholder approval or approval by the Company's Board of Directors of (i) any consolidation or merger of the Company in which the Company is not the continuing or surviving corporation or pursuant to which shares of Company Common Stock would be converted into cash, securities or other property, other than a merger of the Company in which stockholders of the Company immediately prior to the merger have the same proportionate ownership of stock in the surviving corporation immediately after the merger; (ii) any sale, exchange or other transfer (in one transaction or a series of related transactions) of all or substantially all of the assets of the Company; or (iii) any plan of liquidation or dissolution of the Company.

  • Alternative Clauses means the alternative Clauses specified in paragraph 2.2 of Annex A to this Contract that were requested in the Order by the CUSTOMER and that shall apply to this Contract.

  • Note Event of Default means any “Event of Default” specified in Section 5.1 of the Indenture.

  • Additional Clauses means the additional Clauses specified in paragraph 2.1 of Annex A to this Contract that were requested in the Order by the CUSTOMER and that shall apply to this Contract.

  • Triggering Event of Default means (i) any Event of Default with respect to an obligation of the Mortgage Loan Borrower to pay money due under the Mortgage Loan or (ii) any non-monetary Event of Default as a result of which the Mortgage Loan becomes a Specially Serviced Mortgage Loan (which, for clarification, shall not include any imminent Event of Default (i.e., subclause (vii) of the definition of Special Servicing Loan Event)).

  • Potential Event of Default means any event which, with the giving of notice or the lapse of time or both, would constitute an Event of Default.

  • Indenture Event of Default means an "Event of Default" as defined in the Indenture.

  • default value means a value derived from a typical value by the application of pre-determined factors and that may, in circumstances specified in this Directive, be used in place of an actual value;’;

  • PTC Event of Default Means any failure to pay within 10 Business Days of the due date thereof: (i) the outstanding Pool Balance on the Final Legal Distribution Date or (ii) interest due on the Certificates on any Distribution Date (unless the Subordination Agent shall have made an Interest Drawing or Drawings (as defined in the Intercreditor Agreement), or a withdrawal or withdrawals pursuant to Section 3.6(f) of the Intercreditor Agreement, with respect thereto in an aggregate amount sufficient to pay such interest and shall have distributed such amount to the Trustee).

  • Specified Event of Default means any Event of Default under Section 8.01(a), Section 8.01(f) or Section 8.01(g).

  • cross-default obligation means a term of any agreement or arrangement whereby the Appointee's liability to pay or repay any debt or other sum arises or is increased or accelerated by reason of a default of any person other than the Appointee. 6.12 Without prejudice to the application of paragraph 6.2 the Appointee shall declare or pay dividends only in accordance with a dividend policy which has been approved by the Board of the Appointee and which complies with the following principles -

  • Default Under First Lien With respect to each Second Lien Loan, the related First Lien Loan related thereto is in full force and effect, and there is no default, breach, violation or event which would permit acceleration existing under such first Mortgage or Mortgage Note, and no event which, with the passage of time or with notice and the expiration of any grace or cure period, would constitute a default, breach, violation or event which would permit acceleration thereunder;

  • Guarantee Event of Default means a default by the Guarantor on any of its payment or other obligations under this Guarantee.

  • Loss Payable Clauses means the provisions regulating the manner of payment of sums receivable under the Insurances which are to be incorporated in the relevant insurance document, such Loss Payable Clauses to be in the forms set out in paragraph 4 of this Schedule, or such other form as the Bank may from time to time agree in writing;

  • Due-on-sale clause means a contract provision which authorizes the lender, at its option, to declare due and payable sums secured by the lender's security instrument if all or any part of the property, or an interest in the property, securing the real property loan is sold or transferred without the lender's prior written consent.

  • Default Rights has the meaning assigned to that term in, and shall be interpreted in accordance with, 12 C.F.R. §§ 252.81, 47.2 or 382.1, as applicable.