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The Vermont Statutes Online
Title
09A
:
Uniform Commercial Code
Chapter
001
:
General Provisions
§
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. (Added 2007, No. 99 (Adj. Sess.), § 2.)