单词 | ipso facto clause |
释义 | ipso facto clause n: a clause in an agreement stipulating the consequences (as termination of a lease or acceleration of a payment) of the insolvency of one of the parties – called also bankruptcy clause, ipso facto bankruptcy clause; ◇ An ipso facto clause is invalid under the Bankruptcy Code because a trustee is not bound by any provision or applicable law that is conditioned on the debtor's insolvency. |
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