DEBTOR AND CREDITOR

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Definition

An accelerated clause is a term in a loan agreement that requires the borrower to pay off the loan immediately under certain conditions.

Overview

An accelerated clause is typically invoked when the borrower materially breaches the loan...

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The Commonwealth of Puerto Rico is facing a severe financial crisis, and several public utility companies are on the verge of insolvency. See Franklin California Tax-Free Trust, et al. v. Commonwealth of Puerto Rico, 805 F.3d 322, 324 (1st Cir. 2015)....