By Brad MacLiver
Authorship and profile at Google
A provision of many MT pharmacy business loans and commercial leases is an acceleration clause. The acceleration clause in the loan/lease agreements permits lenders to accelerate their collection of payments should an event occur. Events may include: failure of payment by the borrower, neglecting to keep the property adequately insured, unpaid pay tax assessments, poor maintenance for the property, sale the property/asset, etc.
Lenders view the acceleration clause as an important tool in their business loan and commercial lease programs. Loan and lease documents might not specifically address the foreclosure of a property, or repossession of an asset, but this is where the acceleration clause comes into effect. Without the clause the lender would only be able to foreclose on one missed payment at a time. With the acceleration clause, despite whatever event kicks the clause into gear, the lender can demand immediate and full payment of all remaining balances and fees.
The pharmacy business loan or lease documents provided to theMontana
Tips:
1. If a pharmacy’s slowing cash flow is going to cause a business loan default, but the pharmacy owner inMontana
2. If aMontana
3. States have different rules requiring notification of an acceleration clause being exercised. Pharmacy owners should understand the laws in the state where they operate. Lack of knowledge is not an excuse.
4. When an acceleration clause is exercised on a commercial lease, there is the possibility the landlord cannot collect rent from both the defaulting tenant and a new tenant at the same time. To save themselves some money, MT pharmacy owners should help the process by assisting the landlord re-lease the property. However, please note, should the pharmacy be in the process of being sold and the files and inventory moved to a competitor’s location, the pharmacy buyer inMontana
5. Lenders prefer not to have to go through the foreclosure process, so if your pharmacy is headed in that direction start talking with the lender about finding a solution. Communication with the lender is a good thing.
6. SomeMontana
When considering to finance a pharmacy in MT for acquisition or expansion, understanding of and due diligence regarding all aspects of the transaction should be considered. Using the services of aMontana
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Authorship and profile at Google
A provision of many MT pharmacy business loans and commercial leases is an acceleration clause. The acceleration clause in the loan/lease agreements permits lenders to accelerate their collection of payments should an event occur. Events may include: failure of payment by the borrower, neglecting to keep the property adequately insured, unpaid pay tax assessments, poor maintenance for the property, sale the property/asset, etc.
Lenders view the acceleration clause as an important tool in their business loan and commercial lease programs. Loan and lease documents might not specifically address the foreclosure of a property, or repossession of an asset, but this is where the acceleration clause comes into effect. Without the clause the lender would only be able to foreclose on one missed payment at a time. With the acceleration clause, despite whatever event kicks the clause into gear, the lender can demand immediate and full payment of all remaining balances and fees.
The pharmacy business loan or lease documents provided to the
Tips:
1. If a pharmacy’s slowing cash flow is going to cause a business loan default, but the pharmacy owner in
2. If a
3. States have different rules requiring notification of an acceleration clause being exercised. Pharmacy owners should understand the laws in the state where they operate. Lack of knowledge is not an excuse.
4. When an acceleration clause is exercised on a commercial lease, there is the possibility the landlord cannot collect rent from both the defaulting tenant and a new tenant at the same time. To save themselves some money, MT pharmacy owners should help the process by assisting the landlord re-lease the property. However, please note, should the pharmacy be in the process of being sold and the files and inventory moved to a competitor’s location, the pharmacy buyer in
5. Lenders prefer not to have to go through the foreclosure process, so if your pharmacy is headed in that direction start talking with the lender about finding a solution. Communication with the lender is a good thing.
6. Some
When considering to finance a pharmacy in MT for acquisition or expansion, understanding of and due diligence regarding all aspects of the transaction should be considered. Using the services of a
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