Acceleration Prohibited Clause Samples

The 'Acceleration Prohibited' clause prevents a lender or party from demanding immediate repayment of the entire outstanding balance of a loan or obligation before its scheduled maturity, even if certain triggering events occur. In practice, this means that if a borrower defaults on a payment or breaches a minor term, the lender cannot require the full amount to be paid at once and must instead follow the original payment schedule. This clause protects borrowers from the risk of sudden, large financial demands and ensures that repayment terms remain predictable, thereby providing stability and reducing the risk of financial hardship due to technical or minor defaults.
Acceleration Prohibited. The acceleration of the time or schedule of any payment due under the Plan is prohibited except as expressly provided in regulations and administrative guidance promulgated under Section 409A of the Code (such as accelerations for domestic relations orders and employment taxes). It is not an acceleration of the time or schedule of payment if the Employer waives or accelerates the vesting requirements applicable to a benefit under the Plan.
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Acceleration Prohibited. The acceleration of the time or schedule of any payment due under this Agreement is prohibited except as provided in regulations and administrative guidance promulgated under Section 409A of the Code.
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Acceleration Prohibited. 17 Section 7. Vesting: ...............................................17
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Related to Acceleration Prohibited

  • Limit on Prohibition The prohibition in Subsection 14.1 above does not apply to disclosures by and between the Consultant and its Subcontractors that are needed to perform any Work.

  • Discrimination Prohibited The Landlord shall not discriminate based upon race, color, creed, religion, national origin, sex, marital status, age, handicap, or disability, familial status or recipients of public assistance; and shall comply with all nondiscrimination requirements of Federal, State and local law.

  • Excess Obligations Prohibited This Grant Agreement is subject to termination or cancellation, without penalty to System Agency, either in whole or in part, subject to the availability and actual receipt by System Agency of state or federal funds. System Agency is a state agency whose authority and appropriations are subject to actions of the Texas Legislature. If System Agency becomes subject to a legislative change, revocation of statutory authority, or lack of appropriated funds that would render either System Agency’s or Grantee’s delivery or performance under the Grant Agreement impossible or unnecessary, the Grant Agreement will be terminated or cancelled and be deemed null and void. In the event of a termination or cancellation under this Section, System Agency will not be liable to Grantee for any damages that are caused or associated with such termination or cancellation, and System Agency will not be required to give prior notice. Additionally, System Agency will not be liable to Grantee for any remaining unpaid funds under this Grant Agreement at time of termination.

  • Gifts Prohibited The Consultant represents that it is familiar with Chapter 12.08 of the San ▇▇▇▇ Municipal Code, which generally prohibits a City officer or designated employee from accepting any gift. The Consultant shall not offer any City officer or designated employee any gift prohibited by Chapter 12.08. The Consultant’s violation of this Subsection 21.1 is a material breach.

  • STRIKE PROHIBITION The Association recognizes that strikes, as defined by Section 1 of Public Act 336 of 1947 of Michigan, as amended, are contrary to law and public policy. The Board and the Association subscribe to the principle that differences shall be resolved by appropriate and peaceful means in keeping with the high standards of education without interruption of the school program. Accord- ingly, the Association agrees that during their term of this Agreement, it will not direct, instigate, participate in, encourage or support any strike against the Board by any member or group of members which is contrary to law.