HomeTermsCompareFinance No Bonus ClauseThe definition for No Bonus Clause:A clause under the eminent domain section of a lease, giving the lessee the right to recover only the value of his physical improvements in the event of a taking, and not the value of the leasehold interest (the difference between the fixed rent of the lease and current market rental value). Not applicable in all states. Similar MatchesAcceleration ClauseAcceleration ClauseClause used in an installment note and mortgage (or deed of trust), which gives the lender the right to demand payment in full upon the happening of a certain event, such as failure to pay an installment by a certain date, change of ownership without the lender's consent, destruction of the property, or other event which endangers the security of the loan. Cancellation ClauseCancellation ClauseA clause in a lease or other contract, setting forth the conditions under which each party may cancel or terminate the agreement. The conditions may be as simple as giving notice or complex and require payment by the party desiring to cancel. Due on Sale ClauseDue on Sale ClauseA clause in a mortgage loan which gives the lender the right to demand payment in full when the property changes ownership. Not applicable to FHA or VA loans. Further SuggestionsEscalation Clause"Subject To" Clause S Safety Clause Click to compare definitions of No Bonus Clause Click to view definitions beginning no |