Okla. Stat. tit. 12A, § 12A-1-309
This is the official text of Okla. Stat. tit. 12A, § 12A-1-309, part of Oklahoma’s Stat. tit. 12A, — part of the compiled statutory law of Oklahoma, published by the state as "Stat. tit. 12A,." Browse the sections below, each linked to its official government source.
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Option to accelerate at will
Official statutory text
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 in words of similar import, means that the party shall
have 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 whom the
power has been exercised.
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 shall
have 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 whom the
power has been exercised.
Status: in_force · Read it on the official government site
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