Legal Question in Credit and Debt Law in Indiana

I would like to have a legal opinion on this clause. My main concern is to ensure that I can legally call for an early repayment of the promissory note at will, as a Lender. Thank you

D. Acceleration of Debt

If any payment obligation under this Note is not paid when due or the when Lender exercises its right to close the note early before the original maturity date, the remaining unpaid principal balance and any accrued interest shall become due immediately at the option of the Lender.


Asked on 12/23/13, 7:14 am

1 Answer from Attorneys
Kenneth Wilk Rubino Ruman Crosmer & Polen

If the conditions in the first sentence are present and established, you can call for complete and immediate payment. Otherwise, not.

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Answered on 12/23/13, 5:17 pm


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