Nevada § 104.1309 Option to accelerate at will

Nevada Statutes

§ 104.1309 — Option to accelerate at will

Nevada·Title 8 COMMERCIAL INSTRUMENTS AND TRANSACTIONS·Ch. 104 Uniform· Territorial Applicability and General Rules

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.

Free access — add to your briefcase to read the full text and ask questions with AI

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.

Nevada § 104.1309 (Option to accelerate at will) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.