Any term of an agricultural finance lease providing that a party or a successor in interest may accelerate payment or performance, or require collateral or additional collateral “at will” or “when he or she deems himself or herself insecure,” or in words of similar import, shall be construed to mean that the party may do so only if he or she in good faith believes that the prospect of payment or performance is impaired. The burden of establishing good faith shall be on the party who exercised the power.
Vt. Stat. Ann. tit. 9, § 2386
Option to accelerate at will
Added 1989, No. 284 (Adj
Official source: Vermont General Assembly. Reproduced from public-domain Vermont statutes; confirm against the official source for the current text. Not legal advice.