Obligation Acceleration
Definition
Obligation Acceleration. One or more of the obligations have been declared 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 Credit Event other than failure to pay
Notes
Preferred by the market over Obligation Default, because it is more definitive and encompasses the definition of Obligation Default - this is more favorable to the Seller. Subject to the default requirement amount.
Disclaimer
This entry annotates a FIBO Ontology Class. FIBO is a trademark and the FIBO Ontology is copyright of the EDM Council, released under the MIT Open Source License. There is no guarantee that the content of this page will remain aligned with, or correctly interprets, the concepts covered by the FIBO ontology.
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