cross-acceleration

cross-acceleration
USA
A clause which operates by defaulting a borrower under Agreement A when it defaulted under Agreement B and the lender under Agreement B accelerates repayment. A cross-acceleration provision effectively gives the lender under Agreement A the benefit of the default provisions in Agreement B.
In contrast to a cross-acceleration, a cross-default clause in Agreement A causes an automatic event of default under that agreement when the borrower defaults under Agreement B, even if the lender under Agreement B does not accelerate repayment.
Cross-acceleration clauses are common in indentures and investment-grade credit agreements.
Related terms

Practical Law Dictionary. Glossary of UK, US and international legal terms. . 2010.

Игры ⚽ Нужен реферат?

Look at other dictionaries:

  • cross-default — A clause which operates by automatically defaulting a party under Agreement A where it has defaulted under Agreement B. A cross default provision effectively gives the non defaulting party under Agreement A the benefit of the default provisions… …   Law dictionary

  • Cross Default — A provisions in a bond indenture or loan agreement that puts the borrower in default if the borrower defaults on another obligation. Also known as cross acceleration . This provides more security to the lender. You can think of this as an out… …   Investment dictionary

  • Cross-country — Pour les articles homonymes, voir Cross country (homonymie).  Ne doit pas être confondu avec Trail (course à pied) …   Wikipédia en Français

  • Cross-country cycling — A cross country mountain biker on a trail in Utah. Cross country (XC) cycling is the most common discipline of mountain biking. While less publicized than downhill cycling as it is more difficult to televise, it garners the highest levels of… …   Wikipedia

  • Cross-platform Audio Creation Tool — Not to be confused with xACT, a GUI frontend for a collection of open source audio codecs, for the Mac. Cross platform Audio Creation Tool (XACT) is an audio programming library and engine released by Microsoft as part of the DirectX SDK. [1] It… …   Wikipedia

  • DirectX Video Acceleration — (DXVA) is a Microsoft API specification for the Microsoft Windows and Xbox 360 platforms that allows video decoding to be hardware accelerated. The pipeline allows certain CPU intensive operations such as iDCT, motion compensation and… …   Wikipedia

  • Fermi acceleration — Fermi acceleration, sometimes referred to diffusive shock acceleration (a subclass of Fermi acceleration), is the acceleration that charged particles undergo when reflected by a magnetic mirror. This is thought to be the primary mechanism by… …   Wikipedia

  • Tidal acceleration — is an effect of the tidal forces between an orbiting natural satellite ( i.e. a moon), and the planet (called the primary) that it orbits. It causes a gradual recession of a satellite in a prograde orbit away from the primary, and a corresponding …   Wikipedia

  • Microsoft Internet Security and Acceleration Server — Infobox Software name = Microsoft Internet Security and Acceleration Server caption = Screenshot of ISA 2004 in wizard view developer = Microsoft latest release version = [http://technet.microsoft.com/en us/bb738392.aspx Microsoft Internet… …   Wikipedia

  • Ryan Cross — Infobox rugby league biography playername = Ryan Cross fullname = Ryan Cross nickname = Noughts caption = dateofbirth = birth date and age|1979|10|6|df=yes placeofbirth = Sydney, New South Wales countryofbirth = Australia dateofdeath =… …   Wikipedia

Share the article and excerpts

Direct link
Do a right-click on the link above
and select “Copy Link”