Business / Real Estate / Acceleration Clause: A provision in a mortgage, trust deed, promissory note or contract for deed (agreement of sale) that, upon the occurrence of a specified event, gives the lender (payee, obligee or mortgagee) the right to call all sums due and payable in advance of the fixed payment date.
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
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
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
Business / Real Estate / Lock-In Clause: A condition in a promissory note that prohibits prepayment of the note. MORE
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