New Jersey § 12a:2a-401

§ 12a:2a-401.

(1) A lease contract imposes an obligation on each party that the other's expectation

of receiving due performance will not be impaired. (2) If reasonable grounds for insecurity arise with respect to the performance of

either party, the insecure party may demand in writing adequate assurance of due performance. Until the insecure party receives that assurance, if commercially reasonable the

insecure party may suspend any performance for which the insecure party has not already

received the agreed return. (3) A repudiation of the lease contract occurs if assurance of due performance adequate

under the circumstances of the particular case is not provided to the insecure party

within a reasonable time, not to exceed 30 days after receipt of a demand by the other

party. (4) Between merchants, the reasonableness of grounds for insecurity and the adequacy

of any assurance offered must be determined according to commercial standards. (5) Acceptance of any nonconforming delivery or payment does not prejudice the aggrieved

party's right to demand adequate assurance of future performance.