N.Y. UCC Law § 2-609

Section 2--609. Right to Adequate Assurance of Performance.\n (1) A contract for sale imposes an obligation on each party that the\nother's expectation of receiving due performance will not be impaired.\nWhen reasonable grounds for insecurity arise with respect to the\nperformance of either party the other may in writing demand adequate\nassurance of due performance and until he receives such assurance may if\ncommercially reasonable suspend any performance for which he has not\nalready received the agreed return.\n (2) Between merchants the reasonableness of grounds for insecurity and\nthe adequacy of any assurance offered shall be determined according to\ncommercial standards.\n (3) Acceptance of any improper delivery or payment does not prejudice\nthe aggrieved party's right to demand adequate assurance of future\nperformance.\n (4) After receipt of a justified demand failure to provide within a\nreasonable time not exceeding thirty days such assurance of due\nperformance as is adequate under the circumstances of the particular\ncase is a repudiation of the contract.\n