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A due-on-sale clause is a clause in a loan or promissory note that stipulates that the full balance of the loan may be called due (repaid in full) upon sale or transfer of ownership of the property used to secure the note. The lender has the right, but not the obligation, to call the note due in such a circumstance.
In the event Purchaser defaults on any payment or fails to comply with any condition of this contract [...] the full amount shall be immediately due and payable[...]". The court found that the language of the clause caused the statute of limitations for the debt owed under the contract be start to run on the date of default, not the date the ...
The legal provision in the loan agreement providing for the loan to be "called" is the "acceleration clause": once the buyer defaults, all future payments due under the loan are "accelerated" and deemed to be due and payable immediately. [1] Covenants may also be waived, either temporarily or permanently, usually at the sole discretion of the ...
Invoices are issued with terms of payment. [3] These terms vary widely from 'cash terms', meaning that the invoice is due immediately [citation needed], to many forms of 'credit terms' (for example 30 days from date of invoice). [4] Unpaid invoices are considered outstanding, and those which remain unpaid for periods longer than their 'terms ...
There are approximately 5.6 million former students currently in default, meaning their loans are at least 270 days behind on payment, who could be immediately affected when collections crank back ...
In finance, a coupon is the interest payment received by a bondholder from the date of issuance until the date of maturity of a bond. [ 1 ] Coupons are normally described in terms of the "coupon rate", which is calculated by adding the sum of coupons paid per year and dividing it by the bond's face value . [ 2 ]
A grace period is a period immediately after the deadline for an obligation during which a late fee, or other action that would have been taken as a result of failing to meet the deadline, is waived provided that the obligation is satisfied during the grace period. In other words, it is a length of time during which rules or penalties are ...
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