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Terminsverlust

English translation: acceleration clause

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GLOSSARY ENTRY (DERIVED FROM QUESTION BELOW)
German term or phrase:Terminsverlust
English translation:acceleration clause
Entered by: Claire Cox
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11:07 Aug 3, 2006
German to English translations [PRO]
Law/Patents - Law: Contract(s) / Delivery terms and conditions
German term or phrase: Terminsverlust
From an Austrian document.

Bei Ratenzahlungsvereinbarung tritt bei Verzug auch mit nur einer Rate **Terminsverlust** ein.

I gather from research on the internet that this is where the full amount becomes due even if only one instalment is missed. Does anyone know of an equivalent term in English?

Many thanks!
Claire Cox
United Kingdom
Local time: 15:37
acceleration of the loan balance
Explanation:
This looks like an "acceleration clause," i.e. "a clause contained in your mortgage which allows your lender to speed up the rate of your loan’s payment terms. The clause can also allow your lender to require immediate payment of your mortgage in full. Normally, this clause can only be activated if you were to default on your loan or if you were to otherwise violate your loan’s terms and conditions."
Source: http://loanallstar.com/

Also see No. 6.2. here: http://www.cepi.be/includes/EN/pays_cepi-en-09-ALL.asp
:-)

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Note added at 12 mins (2006-08-03 11:20:54 GMT)
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Also see http://www.google.com/search?sourceid=navclient&ie=UTF-8&rls...
Selected response from:

Derek Gill Franßen
Germany
Local time: 16:37
Grading comment
Thanks Derek - I went for acceleration clause in the end
4 KudoZ points were awarded for this answer

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Summary of answers provided
3acceleration of the loan balance
Derek Gill Franßen


  

Answers


10 mins   confidence: Answerer confidence 3/5Answerer confidence 3/5
acceleration of the loan balance


Explanation:
This looks like an "acceleration clause," i.e. "a clause contained in your mortgage which allows your lender to speed up the rate of your loan’s payment terms. The clause can also allow your lender to require immediate payment of your mortgage in full. Normally, this clause can only be activated if you were to default on your loan or if you were to otherwise violate your loan’s terms and conditions."
Source: http://loanallstar.com/

Also see No. 6.2. here: http://www.cepi.be/includes/EN/pays_cepi-en-09-ALL.asp
:-)

--------------------------------------------------
Note added at 12 mins (2006-08-03 11:20:54 GMT)
--------------------------------------------------

Also see http://www.google.com/search?sourceid=navclient&ie=UTF-8&rls...

Derek Gill Franßen
Germany
Local time: 16:37
Specializes in field
Native speaker of: English
PRO pts in category: 615
Grading comment
Thanks Derek - I went for acceleration clause in the end
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