(a) A term providing that one party or that party’s successor in interest may accelerate payment of performance or require collateral or additional collateral “at will” or “when the party deems the party’s self insecure” or in words of similar import must be construed to mean that the party has power to do so only if the party in good faith believes that the prospect of payment or performance is impaired.
Terms Used In Hawaii Revised Statutes 490:2A-109
Lease: A contract transferring the use of property or occupancy of land, space, structures, or equipment in consideration of a payment (e.g., rent). Source: OCC
(b) With respect to a consumer lease, the burden of establishing good faith under subsection (a) is on the party who exercised the power; otherwise the burden of establishing lack of good faith is on the party against whom the power has been exercised.
