Bankruptcy Clause

What does Bankruptcy Clause mean in American Law?

The definition of Bankruptcy Clause in the law of the United States, as defined by the lexicographer Arthur Leff in his legal dictionary is:

A clause in many contracts, especially those involving real property, terminating or permitting one party to terminate the relationship (e.g., a lease) or accelerate its maturity (e.g., a mortgage) if the other is the subject of a voluntary or involuntary bankruptcy proceeding.