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Definitions for "Penalty Clause"
Keywords:  clause, provision, deadlines, premature, ahead
Related Terms: Lock-in clause, Prepayment clause, Acceleration clause, Acceleration, Retire, Default, Repayments, Repayment plan, Forbearance agreement, Prepayment privilege, Delinquency, Promissory note, Forbearance, Non-performing loan, Delinquent mortgage, Arrears, Delinquent, Demand, Loan servicing, Mortgage acceleration clause, Restructure, Note, Installment note, Prepayment, Loan, Due on sale, Pre-payment, Installment, Payment schedule, Straight note, Installment agreement, Payoff, Servicing, Due-on-sale-clause, Mortgage note, Delinquent loan, Additional repayments, Default, Conditional commitment, Promissory notes, Debt service, Escrow payment, Open-end mortgage, Defaults, Repayment, Default, Demand clause, Repayment, Installment debt
A clause found in contract agreements that provides for a penalty in the event of default.
getfolio.com
(1) a provision in a promissory note specifying a penalty for late payments. (2) a clause in a savings certificate specifying a penalty for premature withdrawal of funds.... read full article
militaryfinance.net
A provision in a contract that provides for a reduction in the amount otherwise payable under a contract to a contractor as a penalty for failure to meet deadlines or for failure of the project to meet contract specifications.
nachi.org
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Keywords:  version, rule, private, property
a private version of a property rule
daviddfriedman.com