Acceleration: Difference between revisions

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	A delinquent counterparty, borrower, or other miscreant can “[[default]]” on a [[contractual obligation]] without (necessarily) incurring the full, balls-out wrath of his lender. Sure, the lender may be utterly exasperated with his cretinous client, but she may have plenty of good reasons to sit on her hands. A [[defaulting party]] is one who has failed to do what {{sex\|she}} promised, whether or not the [[non-defaulting party]] has taken any action as a result.		{{a\|glossary\|}}A delinquent counterparty, borrower, or other miscreant can “[[default]]” on a [[contractual obligation]] without (necessarily) incurring the full, balls-out wrath of his lender. Sure, the lender may be utterly exasperated with his cretinous client, but she may have plenty of good reasons to sit on her hands. A [[defaulting party]] is one who has failed to do what {{sex\|she}} promised, whether or not the [[non-defaulting party]] has taken any action as a result.

	The process of taking that action: declaring an [[event of default]] or terminating a {{tag\|contract}} is called “[[acceleration]]”.		The process of taking that action: declaring an [[event of default]] or terminating a {{tag\|contract}} is called “[[acceleration]]”.