No Payment During an Acceleration Clause Samples

The 'No Payment During an Acceleration' clause stipulates that, in the event of an acceleration—typically when a loan is declared immediately due due to a default—the borrower is not permitted to make regular scheduled payments. Instead, the entire outstanding balance becomes payable at once, and only full repayment or other specified remedies are accepted. This clause ensures that, once acceleration occurs, the lender is not obligated to accept piecemeal payments, thereby protecting their right to recover the full amount owed promptly and reducing the risk of protracted or partial repayments after a default.
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No Payment During an Acceleration. Notwithstanding the foregoing, no Notes may be purchased by the Company at the option of the Holders pursuant to this Section 8.01 if the Principal Amount of the Notes has been accelerated, and such acceleration has not been rescinded, on or prior to the Fundamental Change Purchase Date (except in the case of an acceleration resulting from a Default by the Company in the payment of the Fundamental Change Purchase Price with respect to such Notes).
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Related to No Payment During an Acceleration

  • Vesting Acceleration Effective on such termination, the Executive shall receive accelerated vesting equivalent to six (6) months of service beyond the date of Executive’s termination with respect to the shares subject to any grant of restricted stock or stock options (each, an “Equity Grant”) granted to the Executive, regardless of whether granted prior to, coincident with, or after, the Effective Date; provided, however, that in the event such termination occurs within one (1) year following a Change of Control, then one hundred percent (100%) of the remaining shares subject to each such Equity Grant shall become vested in full and the period during which the Executive is permitted to exercise (if applicable) any such Equity Grant shall be extended until the earlier of (i) ten (10) years from the date of grant, or (ii) the expiration date of such Equity Grant (as of the date of grant).