Section 1301.309 | Option to accelerate at will - UCC 1-309.
Option to accelerate at will [UCC 1-309]
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 in 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.
Available Versions of this Section
- June 29, 2011 – House Bill 9 - 129th General Assembly [ View June 29, 2011 Version ]