Contingencies resulting in acceleration of maturity are situations in which the maturity date of a financial instrument is accelerated due to an event or condition such as a default or credit event. Common types of contingencies resulting in acceleration of maturity include cross-default clauses, bankruptcy clauses, default clauses, and change of control clauses. Cross-default clauses are provisions in loan agreements that require a borrower to repay the full amount of a loan if the borrower defaults on any other loan or obligation. Bankruptcy clauses are provisions in loan agreements that require a borrower to repay the full amount of the loan if the borrower files for bankruptcy. Default clauses are provisions in loan agreements that require a borrower to repay the full amount of the loan if the borrower fails to pay an installment of the loan on time. Change of control clauses are provisions in loan agreements that require a borrower to repay the full amount of the loan if the borrower undergoes a change of control.
Contingencies resulting in acceleration of maturity
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