47-2A529. Lessor's action for the
rent
A. After default by the lessee under the lease contract of the type described in
section 47-2A523, subsection A or subsection C, paragraph 1 or, if agreed, after other
default by the lessee, if the lessor complies with subsection B of this section, the
lessor may recover from the lessee as damages:
1. For goods accepted by the lessee and not repossessed by or tendered to the
lessor, and for conforming goods lost or damaged within a commercially reasonable time
after risk of loss passes to the lessee (section 47-2A219), accrued and unpaid rent as of
the date of entry of judgment in favor of the lessor, the present value as of the same
date of the rent for the then remaining lease term of the lease agreement, and any
incidental damages allowed under section 47-2A530, less expenses saved in consequence of
the lessee's default; and
2. For goods identified to the lease contract if the lessor is unable after
reasonable effort to dispose of them at a reasonable price or the circumstances
reasonably indicate that effort will be unavailing, accrued and unpaid rent as of the
date of entry of judgment in favor of the lessor, the present value as of the same date
of the rent for the then remaining lease term of the lease agreement, and any incidental
damages allowed under section 47-2A530, less expenses saved in consequence of the
lessee's default.
B. Except as provided in subsection C of this section, the lessor shall hold for
the lessee for the remaining lease term of the lease agreement any goods that have been
identified to the lease contract and are in the lessor's control.
C. The lessor may dispose of the goods at any time before collection of the
judgment for damages obtained pursuant to subsection A of this section. If the
disposition is before the end of the remaining lease term of the lease agreement, the
lessor's recovery against the lessee for damages is governed by section 47-2A527 or
47-2A528, and the lessor will cause an appropriate credit to be provided against a
judgment for damages to the extent that the amount of the judgment exceeds the recovery
available pursuant to section 47-2A527 or 47-2A528.
D. Payment of the judgment for damages obtained pursuant to subsection A of this
section entitles the lessee to the use and possession of the goods not then disposed of
for the remaining lease term of and in accordance with the lease agreement.
E. After default by the lessee under the lease contract of the type described in
section 47-2A523, subsection A or subsection C, paragraph 1 or, if agreed, after other
default by the lessee, a lessor who is held not entitled to rent under this section must
nevertheless be awarded damages for nonacceptance under section 47-2A527 or 47-2A528.
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