Notwithstanding the provisions of any contract to the contrary, default on the part of the buyer is only enforceable to the extent that:
1. The buyer fails to make a payment as required by the agreement; or
2. The prospect of payment, performance or realization of collateral is significantly impaired. The burden of establishing the prospect of significant impairment is on the seller.
(Added to NRS by 2011, 1029)
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