Acceleration Clause

Business / Finance / Acceleration Clause: A contract stating that the unpaid balance becomes due and payable if specific actions transpire, such as failure to make interests payments on time.

Due-On-Sale-Clause

Business / Real Estate / Due-On-Sale-Clause: A form of acceleration clause found in some mortgages, especially savings and loan mortgages, requiring the mortgagor to pay off the mortgage debt when the property is sold, resulting in automatic mat MORE

Market Out Clause

Business / Finance / Market Out Clause: A clause that may appear in an underwriting firm commitment that releases it from its purchase requirement if there are negative securities market developments. MORE

Multicurrency Clause

Business / Finance / Multicurrency Clause: An agreement in the case of a Euro loan that permits the borrower to switch from one currency to another currency on a rollover date. MORE

Lock-In Clause

Business / Real Estate / Lock-In Clause: A condition in a promissory note that prohibits prepayment of the note. MORE

Multiple-Listing Clause

Business / Real Estate / Multiple-Listing Clause: A provision in an exclusive listing for the authority and obligation on the part of the listing broker to distribute the listing to other brokers in the multiple-listing organization. MORE

Lifting Clause

Business / Real Estate / Lifting Clause: A provision in a junior mortgage that allows the underlying senior loan to be replaced or refinanced so long as the amount of the new senior loan does not exceed the amount of the first lien outstandi MORE

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