(1) After default by a lessor under the lease contract of the type describedin subsection (1) of § 8.2A-508, or, if agreed, after other default by thelessor, the lessee may cover by making any purchase or lease of or contractto purchase or lease goods in substitution for those due from the lessor.
(2) Except as otherwise provided with respect to damages liquidated in thelease agreement (§ 8.2A-504) or otherwise determined pursuant to agreement ofthe parties (§§ 8.1A-302 and 8.2A-503), if a lessee's cover is by leaseagreement substantially similar to the original lease agreement and the newlease agreement is made in good faith and in a commercially reasonablemanner, the lessee may recover from the lessor as damages (i) the presentvalue, as of the date of the commencement of the term of the new leaseagreement, of the rent under the new lease agreement applicable to thatperiod of the new lease term which is comparable to the then remaining termof the original lease agreement minus the present value as of the same dateof the total rent for the then remaining lease term of the original leaseagreement, and (ii) any incidental or consequential damages less expensessaved in consequence of the lessor's default.
(3) If a lessee's cover is by lease agreement that for any reason does notqualify for treatment under subsection (2) of this section, or is by purchaseor otherwise, the lessee may recover from the lessor as if the lessee hadelected not to cover and § 8.2A-519 governs.
(1) After default by a lessor under the lease contract of the type describedin subsection (1) of § 8.2A-508, or, if agreed, after other default by thelessor, the lessee may cover by making any purchase or lease of or contractto purchase or lease goods in substitution for those due from the lessor.
(2) Except as otherwise provided with respect to damages liquidated in thelease agreement (§ 8.2A-504) or otherwise determined pursuant to agreement ofthe parties (§§ 8.1A-302 and 8.2A-503), if a lessee's cover is by leaseagreement substantially similar to the original lease agreement and the newlease agreement is made in good faith and in a commercially reasonablemanner, the lessee may recover from the lessor as damages (i) the presentvalue, as of the date of the commencement of the term of the new leaseagreement, of the rent under the new lease agreement applicable to thatperiod of the new lease term which is comparable to the then remaining termof the original lease agreement minus the present value as of the same dateof the total rent for the then remaining lease term of the original leaseagreement, and (ii) any incidental or consequential damages less expensessaved in consequence of the lessor's default.
(3) If a lessee's cover is by lease agreement that for any reason does notqualify for treatment under subsection (2) of this section, or is by purchaseor otherwise, the lessee may recover from the lessor as if the lessee hadelected not to cover and § 8.2A-519 governs.
(1) After default by a lessor under the lease contract of the type describedin subsection (1) of § 8.2A-508, or, if agreed, after other default by thelessor, the lessee may cover by making any purchase or lease of or contractto purchase or lease goods in substitution for those due from the lessor.
(2) Except as otherwise provided with respect to damages liquidated in thelease agreement (§ 8.2A-504) or otherwise determined pursuant to agreement ofthe parties (§§ 8.1A-302 and 8.2A-503), if a lessee's cover is by leaseagreement substantially similar to the original lease agreement and the newlease agreement is made in good faith and in a commercially reasonablemanner, the lessee may recover from the lessor as damages (i) the presentvalue, as of the date of the commencement of the term of the new leaseagreement, of the rent under the new lease agreement applicable to thatperiod of the new lease term which is comparable to the then remaining termof the original lease agreement minus the present value as of the same dateof the total rent for the then remaining lease term of the original leaseagreement, and (ii) any incidental or consequential damages less expensessaved in consequence of the lessor's default.
(3) If a lessee's cover is by lease agreement that for any reason does notqualify for treatment under subsection (2) of this section, or is by purchaseor otherwise, the lessee may recover from the lessor as if the lessee hadelected not to cover and § 8.2A-519 governs.
