State Codes and Statutes

Statutes > New-york > Ucc > Article-1 > Part-2 > 1-208

Section 1--208. Option to Accelerate at Will.    A  term  providing  that  one  party  or his successor in interest may  accelerate payment or performance or require  collateral  or  additional  collateral  "at will" or "when he deems himself insecure" or in words of  similar import shall be construed to mean that he shall have power to do  so only if he 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 whom the power has been exercised.

State Codes and Statutes

Statutes > New-york > Ucc > Article-1 > Part-2 > 1-208

Section 1--208. Option to Accelerate at Will.    A  term  providing  that  one  party  or his successor in interest may  accelerate payment or performance or require  collateral  or  additional  collateral  "at will" or "when he deems himself insecure" or in words of  similar import shall be construed to mean that he shall have power to do  so only if he 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 whom the power has been exercised.

State Codes and Statutes

State Codes and Statutes

Statutes > New-york > Ucc > Article-1 > Part-2 > 1-208

Section 1--208. Option to Accelerate at Will.    A  term  providing  that  one  party  or his successor in interest may  accelerate payment or performance or require  collateral  or  additional  collateral  "at will" or "when he deems himself insecure" or in words of  similar import shall be construed to mean that he shall have power to do  so only if he 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 whom the power has been exercised.

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