§490:1-309 Option to accelerate at will. A term providing that one party or that party's successor in interest may accelerate payment or performance or require collateral or additional collateral "at will" or when the party "deems itself insecure", or words of similar import, means that the party has power to do so only if that party in good faith believes that the prospect of payment or performance is impaired. The burden of establishing lack of good faith is on the party against which the power has been exercised. [L 2004, c 162, pt of §1]
Section: Previous 490-1-302 490-1-303 490-1-304 490-1-305 490-1-306 490-1-307 490-1-308 490-1-309 490-1-310 490-2-101 490-2-102 490-2-103 490-2-104 490-2-105 490-2-106 NextLast modified: October 27, 2016