§ 6A-2.1-529 - Lessor's action for the rent.
SECTION 6A-2.1-529
§ 6A-2.1-529 Lessor's action for the rent.– (1) After default by the lessee under the lease contract of the type describedin § 6A-2.1-523(1) or 6A-2.1-523(3)(a) or, if agreed, after other defaultby the lessee, if the lessor complies with subsection (2), the lessor mayrecover from the lessee as damages:
(a) For goods accepted by the lessee and not repossessed byor tendered to the lessor, and for conforming goods lost or damaged within acommercially reasonable time after risk of loss passes to the lessee (§6A-2.1-219), (i) accrued and unpaid rent as of the date of entry of judgment infavor of the lessor, (ii) the present value as of the same date of the rent forthe then remaining lease term of the lease agreement, and (iii) any incidentaldamages allowed under § 6A-2.1-530, less expenses saved in consequence ofthe lessee's default; and
(b) For goods identified to the lease contract if the lessoris unable after reasonable effort to dispose of them at a reasonable price orthe circumstances reasonably indicate that effort will be unavailing, (i)accrued and unpaid rent as of the date of entry of judgment in favor of thelessor, (ii) the present value as of the same date of the rent for the thenremaining lease term of the lease agreement, and (iii) any incidental damagesallowed under § 6A-2.1-530, less expenses saved in consequence of thelessee's default.
(2) Except as provided in subsection (3), the lessor shallhold for the lessee for the remaining lease term of the lease agreement anygoods that have been identified to the lease contract and are in the lessor'scontrol.
(3) The lessor may dispose of the goods at any time beforecollection of the judgment for damages obtained pursuant to subsection (1). Ifthe disposition is before the end of the remaining lease term of the leaseagreement, the lessor's recovery against the lessee for damages is governed by§ 6A-2.1-527 or 6A-2.1-528, and the lessor will cause an appropriatecredit to be provided against a judgment for damages to the extent that theamount of the judgment exceeds the recovery available pursuant to §6A-2.1-527 or 6A-2.1-528.
(4) Payment of the judgment for damages obtained pursuant tosubsection (1) entitles the lessee to the use and possession of the goods notthen disposed of for the remaining lease term of and in accordance with thelease agreement.
(5) After default by the lessee under the lease contract ofthe type described in § 6A-2.1-523(1) or 6A-2.1-523(3)(a) or, if agreed,after other default by the lessee, a lessor who is held not entitled to rentunder this section must nevertheless be awarded damages for non-acceptanceunder § 6A-2.1-527 or 6A-2.1-528.