Schedule 7, paragraph 17(11)

In this Article— “acceleration or early termination clause”, in relation to a contract or other instrument involving financial services, means a provision of the contract or other instrument— under which, on the happening of an event— a debt or other liability falls due earlier than it otherwise would, or a debt or other liability is terminated and replaced by another debt or liability, or which confers on a party a right which, if exercised, will result in — a debt or other liability falling due earlier than it otherwise would, or a debt or other liability being terminated and replaced by another debt or liability; “contract or other instrument involving financial services” has the same meaning as it has for the purposes of Article 13D (see Schedule ZA2); “monitor's remuneration or expenses” has the meaning given by Article 13D; “moratorium debt” has the meaning given by Article 13HD; “pre-moratorium debt” has the meaning given by Article 13HD; “redundancy payment” has the meaning given by Article 13D; “wages or salary” has the meaning given by Article 13D.

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Source: legislation.gov.uk · retrieved 2026-09-04