§ 1309. 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 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.
Structure Pennsylvania Consolidated & Unconsolidated Statutes
Pennsylvania Consolidated & Unconsolidated Statutes
Chapter 13 - Territorial Applicability and General Rules
Section 1301 - Territorial applicability; parties' power to choose applicable law.
Section 1302 - Variation by agreement
Section 1303 - Course of performance, course of dealing and usage of trade
Section 1304 - Obligation of good faith
Section 1305 - Remedies to be liberally administered
Section 1306 - Waiver or renunciation of claim or right after breach
Section 1307 - Prima facie evidence by third-party documents
Section 1308 - Performance or acceptance under reservation of rights