400.1-208. Option to accelerate at will.
Option to accelerate at will.
400.1-208. A term providing that one party or his successorin interest may accelerate payment or performance or requirecollateral or additional collateral "at will" or "when he deemshimself insecure" or in words of similar import shall beconstrued to mean that he shall have power to do so only if he ingood faith believes that the prospect of payment or performanceis impaired. The burden of establishing lack of good faith is onthe party against whom the power has been exercised.
(L. 1963 p. 503 § 1-208)