All of which would make it even harder for the country to crawl out of recession.Default would also mean another foray into the legal labyrinth, by triggering "acceleration clauses" that give bondholders the right to demand immediate repayment.
The provision, called double-trigger acceleration, usually requires a sale followed by a firing without cause.
"Rigorous tests" of the system have been conducted to make sure it did not trigger sudden acceleration, he said.
The key terms include the elimination of participation with preferred stock, a 1x liquidation preference, and single trigger vesting acceleration on acquisition.
Some options held by management may be subject to a "single trigger" (vesting acceleration solely by reason of the deal closing), and others held by management or key employees may be subject to a "double trigger" (vesting acceleration following the closing only if employment is terminated without cause or for "good reason" within a defined period following closing).
To frighten them into taking the offer, the Foamex proxy contained a warning: If Trace's bankers foreclosed on Trace's shares of Foamex, the resulting change of control would trigger the acceleration of Foamex debt and put the whole company in jeopardy.
The retreat of the grounding line in those areas could trigger runaway acceleration of land glaciers, according to the study.
In more deprived areas, parents tend to invest less care in each child [1], [17], and low parental investment has been argued to trigger an acceleration of developmental schedule in the child, at both the physical and psychological levels [18].
This precocious action of EE on retinal development is in accordance with our recent results [8] showing that exposure to EE up to P10 is sufficient to trigger the acceleration of retinal visual responses.
