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.

By Published On: April 12, 2023Categories: Articles, Featured, Know your Industry, Legal Alerts, News0 Comments

Nuts & Bolts of Cloud Computing & Cyber Security in Kenya

November 20, 2023|0 Comments

Embark on a journey through Kenya's cloud and cybersecurity terrain. From the versatility of cloud services to the nuances of SaaS, IaaS, and PaaS, discover the digital frontier. Uncover the vital connection between cloud and cybersecurity, defending against phishing and malware. In a world of constant evolution, staying ahead in tech is not a choice but a necessity.

Cloud Computing & Cyber Security in Kenya

October 30, 2023|0 Comments

In the realm of technology, cloud computing takes center stage, delivering services like data storage and software through the internet. Learn about public, private, and hybrid clouds, and the three key types of cloud computing: SaaS, IaaS, and PaaS. However, with the convenience of the cloud comes the critical need for cybersecurity. Discover how to safeguard digital assets from threats like phishing, malware, eavesdropping, and DDoS attacks.

Professional Masquerading: Quack lawyer finally unmasked 

October 25, 2023|0 Comments

In a shocking revelation, an imposter known as 'Brian Mwenda' operated as a lawyer, winning multiple cases despite lacking legal qualifications. The Law Society of Kenya is now investigating this case, shedding light on the vulnerability of the legal system. Learn more about this alarming situation and its potential consequences.