An acceleration clause, on the other hand, will allow the lender to demand the payment of the outstanding loan balance immediately for various reasons. However the common reasons for sending acceleration notice include: borrower defaults the loan or when a transfers of title to another individual without informing the lender.
Language in almost every single Mortgage requires that your lender send an "Acceleration Letter" or " Notice of Intent to Accelerate" or more commonly known as the "Default Letter" with very specific language before they can foreclose or initiate foreclosure against you in court for non-payment or default of a mortgage.
Sometimes called a Default Letter, the Notice of Intent to Accelerate usually states that a mortgage loan is in default. The letter will also state how much time you have to cure the default. For most mortgages, this time period is 30 days. In addition, the notice may tell you the exact amount needed to reinstate the loan.
If you read the fine print, you will notice that commercial lease agreements have many provisions to protect the best interests of the landlord. One example of such a provision is the rent acceleration clause. For more information about rent acceleration in commercial lease agreements, read below. What is rent acceleration?
PostRock Energy (OTC:PSTR-48%) is cut nearly in half after its lenders accelerate the balance of the company’s indebtedness, making the entire outstanding principal balance and all accrued interest.
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Acceleration Notice means a notice given after the occurrence of an Event of Default to the Issuer by the Senior Trustee at the instruction of the Noteholders representing a majority of the aggregate Outstanding Principal Balance of the Senior Class of Notes, with a copy to NPS, declaring all Outstanding principal of and accrued and unpaid interest on the Notes to be immediately due and payable.
FORECLOSURE NOTICES/LETTERS & FORMS FROM THE EXPERTS Forms from: TEXAS REAL ESTATE FORMS MANUAL Presenters: DAVID W. TOMEK, Dallas RICHARD MELAMED, Houston State Bar of Texas
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Acceleration Notice Template. You can print an Acceleration Notice which can be sent to the borrower demanding the borrower payoff the mortgage in full. View sample Acceleration Notice pdf.
PostRock Energy Corporation (otc pink:PSTR) ("PostRock") announced that it has received written notice from the Administrative Agent of the Third Amended and Restated Credit Agreement originally dated.
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