WHY YOU NEED THAT ACCELERATION AGREEMENT (CLAUSE)
An acceleration agreement is a type of clause found in many types of contracts that allows the contracting parties to accelerate the performance of obligations in certain circumstances.
For example, if a borrower fails to make their loan payments on time or violates other terms of their loan agreement, an acceleration clause may allow the lender to demand immediate repayment of the entire loan amount (instead of just monthly payments) so that they can avoid further losses.
Similarly, an acceleration agreement in an employment contract might allow an employer to recover signing bonuses or other payments made to an employee if the employee leaves the company before fulfilling certain obligations, such as completing a set number of projects or working a minimum number of years.
In general, acceleration agreements are designed to protect the interests of one or more parties to a contract by ensuring that they are not left without recourse if the other party fails to fulfill its obligations. However, they should be carefully drafted and reviewed to ensure that they are fair to all parties and enforceable under the law.
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