automatic acceleration definition

automatic acceleration means a situation in which a covered bond automatically becomes immediately due and payable upon the insolvency or resolution of the issuer and in respect of which the covered bond investors have an enforceable claim for repayment at a time earlier than the original maturity date;
Sample 1Sample 2Sample 3
automatic acceleration. If, with or without the Borrower's consent, a custodian, trustee or receiver is appointed for any of the Borrower's or any subsidiary's properties, or if a petition is filed by or against the Borrower or any subsidiary under the United States Bankruptcy Code, or if the Borrower is dissolved or liquidated (if an entity), or dies (if an individual), the unpaid principal, accrued interest and all other amounts payable under this Note will automatically become due and payable without notice or demand and, if this Note evidences a line of credit, the line of credit will automatically terminate.
Sample 1Sample 2Sample 3
automatic acceleration means the automatic acceleration of the Liabilities with respect to any Grantor pursuant to applicable law as a result of the commencement of any Insolvency or Liquidation Proceeding.
Sample 1Sample 2

Examples of automatic acceleration in a sentence

  • At any time following an Automatic Acceleration, neither of the Chargors shall be entitled to withdraw or otherwise transfer any credit balance from time to time on any Bank Account except with the prior written consent of the Security Trustee acting reasonably.


More Definitions of automatic acceleration

automatic acceleration has the meaning given to the term in the Intercreditor Agreement.
Sample 1
automatic acceleration means a situation in which a mortgage bond automatically becomes immediately due and payable upon the insolvency or resolution of the mortgage loan company and in respect of which mortgage bond investors have an enforceable claim for repayment at a time earlier than the original maturity date;
Sample 1
automatic acceleration shall have the meaning set forth in Section 6.02.
Sample 1
automatic acceleration has the meaning given in clause 10.3;
Sample 1
automatic acceleration. Event" 1.7 "Borrower" 1.8 "Business Day" 1.9 "Capital Lease" 1.10 "Cash Equivalents" 1.11 "Closing Date" 1.12 "Closing Price" 1.13 "Code" 1.14 "Collateral" 1.15 "Common Stock" 1.16 "Commonly Controlled Entity" 1.17 "Consolidated Working Capital Assets" 1.18 "Consolidated-Current Liabilities" 1.19 "Consolidated Net Worth" 1.20 "Consolidated Subsidiaries" 1.21 "Contingent Obligation" 1.22 "Contractual Obligation" 1.23 "Control" 1.24 "Deere Park Litigation" 1.25 "Default Rate" 1.26 "EMS" 1.27 "EMS Stock Pledge Agreement" 1.28 "ERISA" 1.29 "Event of Default" 1.30 "Extension Warrant" 1.31 "Family Affiliate" 1.32 "Foreign Governmental Authority" 1.33 "GAAP" 1.34 "Governmental Authority" 1.35 "Indebtedness" 1.36 "Insolvency" or "Insolvent" 1.37 "Intellectual Property" 1.38 "Interest" 1.39 "Inventory" 1.40 "Knowledge" 1.41 "Lender" 1.42 "Lien" 1.43 "Loan" 1.44 "Loan Documents" 1.45 "Maturity Date" 1.46 "Mortgage" 1.47 "NEC Patent Infringement Litigation" 1.48 "Note" 1.49 "NTC Liquidating Trust Claim"
Sample 1
automatic acceleration. If, with or without the Borrower's consent, a custodian, trustee or receiver is appointed for any of the Borrower's properties, or if a petition is filed by or against the Borrower under the United States Bankruptcy Code, or if the Borrower is dissolved or liquidated (if an entity), or dies (if an individual), the unpaid principal, accrued interest and all other amounts payable under this Note will automatically become due and payable without notice or demand. WAIVER OF DEMAND, PRESENTMENT, NOTICE OF DISHONOR AND PROTEST: Each maker, accommodation party, endorser or guarantor of this Note, and any other party liable for its repayment, hereby severally waives demand, presentment, notice of dishonor and protest.
Sample 1

Related to automatic acceleration

  • Acceleration Date on any Security means the date on and after which the principal or any or all installments of interest, or both, are due and payable on any Security which has become accelerated pursuant to the terms of the Security.

  • Automatic Early Termination provision of Section 6(a) will not apply to Party A and will not apply to Party B.

  • Automatic Renewal Terms with TIPS Members Vendor agrees that no TIPS Sale may incorporate an "Automatic Renewal" clause that exceeds month to month terms with which the TIPS Member must comply. All renewal terms incorporated into a TIPS Sale Supplemental Agreement shall only be valid and enforceable when Vendor received written confirmation of acceptance of the renewal term from the TIPS Member for the specific renewal term. The purpose of this clause is to avoid a TIPS Member inadvertently renewing a Supplemental Agreement during a period in which the governing body of the TIPS Member has not properly appropriated and budgeted the funds to satisfy the Agreement renewal. Any TIPS Sale Supplemental Agreement containing an "Automatic Renewal" clause that conflicts with these terms is rendered void and unenforceable. If Vendor disagrees, after this solicitation legally closes and TIPS begins evaluating Vendor's file, TIPS will provide Vendor with a draft Word Document version of the Vendor Agreement and will be instructed to include all requested negotiations as redline edits for TIPS consideration. Does Vendor agree? Yes, Vendor agrees Certification Regarding "Indemnity" Terms with TIPS Members Texas and other jurisdictions restrict the ability of governmental entities to indemnify others. Vendor agrees that if any "Indemnity" provision which requires the TIPS Member to indemnify Vendor is included in any sales agreement/contract between Vendor and a TIPS Member, that clause must either be stricken or qualified by including that such indemnity is only permitted, "to the extent permitted by the laws and constitution of [TIPS Member's State]" unless the TIPS Member expressly agrees otherwise. Any TIPS Sale Supplemental Agreement containing an "Indemnity" clause that conflicts with these terms is rendered void and unenforceable. If Vendor disagrees, after this solicitation legally closes and TIPS begins evaluating Vendor's file, TIPS will provide Vendor with a draft Word Document version of the Vendor Agreement and will be instructed to include all requested negotiations as redline edits for TIPS consideration. Does Vendor agree? Yes, Vendor agrees Certification Regarding "Arbitration" Terms with TIPS Members Vendor agrees that if any "Arbitration" provision is included in any TIPS Sale agreement/contract between Vendor and a TIPS Member, that clause may not require that the arbitration is mandatory or binding. Vendor agrees that if any "Arbitration" provision is included in any TIPS Sale agreement/contract between Vendor and a TIPS Member, that clause provides for only voluntary and non-binding arbitration unless the TIPS Member expressly agrees otherwise. Any TIPS Sale Supplemental Agreement containing a “Arbitration” clause that conflicts with these terms is rendered void and unenforceable. If Vendor disagrees, after this solicitation legally closes and TIPS begins evaluating Vendor's file, TIPS will provide Vendor with a draft Word Document version of the Vendor Agreement and will be instructed to include all requested negotiations as redline edits for TIPS consideration. Does Vendor agree? Yes, Vendor agrees

  • Automatic Termination shall have the meaning set forth in Section 2.3.2.

  • Early Termination Rate means the lesser of (i) 6.5% per annum, compounded annually, and (ii) LIBOR plus 100 basis points.

  • Automatic Route Selection or “ARS” means a service feature associated with a specific grouping of lines that provides for automatic selection of the least expensive or most appropriate transmission facility for each call based on criteria programmed into the system.

  • Early Termination Date means the date determined in accordance with Section 6(a) or 6(b)(iv).

  • Scheduled Termination Date means the date that is 364 days from (and including) the Effective Date, or any succeeding date to which the term of this Agreement is extended pursuant to Section 2.03.

  • Additional Termination Event has the meaning specified in Section 5(b).