                                 CODE OF VIRGINIA

OPTION TO ACCELERATE AT WILL (§ 8.1A-309)

A term providing that one party or that party&#8217;s successor in interest may
accelerate payment or performance or require collateral or additional collateral
&#8220;at will&#8221; or when the party &#8220;deems itself insecure,&#8221; 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.

HISTORY: 1964, c. 219, § 8.1-208; 1974, c. 572; 2003, c. 353.