Castler closes Pre-Series A funding of $5 Million led by Capital 2B, IIFL Fintech Fund, Venture Catalysts & Zerodha

Acceleration Clause

This is a provision that often appears in a Note and provides for payment of the Note in full prior to the maturity date (date of the last scheduled payment).  The clause will call out the circumstances under which the beneficiary may impose the requirement.  It is most commonly instituted for the purpose of establishing that the borrower must pay off the Note at such time as he sells or otherwise divests his interest in the property which has been pledged as collateral under the Deed of Trust.  When a Note contains an acceleration clause, it is usually restated in the Deed of Trust.  In this way, the requirement becomes evident as a matter of public record (because the Deed of Trust is recorded).

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