§490:2A-518  Cover; substitute goods.  (a) 
After a default by a lessor under the lease contract of the type described in
section 490:2A-508(a), or, if agreed, after other default by the lessor, the
lessee may cover by making any purchase or lease of or contract to purchase or
lease goods in substitution for those due from the lessor.



(b)  Except as otherwise provided with respect
to damages liquidated in the lease agreement (section 490:2A-504) or otherwise
determined pursuant to agreement of the parties (sections 490:1-302 and
490:2A-503), if a lessee's cover is by a lease agreement substantially similar
to the original lease agreement and the new lease agreement is made in good
faith and in a commercially reasonable manner, the lessee may recover from the
lessor as damages (i) the present value, as of the date of the commencement of
the term of the new lease agreement, of the rent under the new lease agreement
applicable to that period of the new lease term that is comparable to the then
remaining term of the original lease agreement minus the present value as of
the same date of the total rent for the then remaining lease term of the
original lease agreement, and (ii) any incidental or consequential damages,
less expenses saved in consequence of the lessor's default.



(c)  If a lessee's cover is by lease agreement
that for any reason does not qualify for treatment under subsection (b), or is
by purchase or otherwise, the lessee may recover from the lessor as if the
lessee had elected not to cover and section 490:2A-519 governs. [L 1991, c 40,
pt of §1; am L 2004, c 162, §7]