Section 2-A-529. Lessor's Action for the Rent.\n (1) After default by the lessee under the lease contract of the type\ndescribed in Section 2-A-523(1) or 2-A-523(3)(a) or, if agreed, after\nother default by the lessee, if the lessor complies with subsection (2),\nthe lessor may recover from the lessee as damages:\n (a) for goods accepted by the lessee and not repossessed by or\n tendered to the lessor, and for conforming goods lost or\n damaged within a commercially reasonable time after risk of\n loss passes to the lessee (Section 2-A-219), (i) accrued and\n unpaid rent as of the date of entry of judgment in favor of\n the lessor, (ii) the present value as of the same date of the\n rent for the then remaining lease term of
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Section 2-A-529. Lessor's Action for the Rent.\n (1) After default by the lessee under the lease contract of the type\ndescribed in Section 2-A-523(1) or 2-A-523(3)(a) or, if agreed, after\nother default by the lessee, if the lessor complies with subsection (2),\nthe lessor may recover from the lessee as damages:\n (a) for goods accepted by the lessee and not repossessed by or\n tendered to the lessor, and for conforming goods lost or\n damaged within a commercially reasonable time after risk of\n loss passes to the lessee (Section 2-A-219), (i) accrued and\n unpaid rent as of the date of entry of judgment in favor of\n the lessor, (ii) the present value as of the same date of the\n rent for the then remaining lease term of the lease\n agreement, and (iii) any incidental damages allowed under\n Section 2-A-530, less expenses saved in consequence of the\n lessee's default; and\n (b) for goods identified to the lease contract, if the lessor is\n unable after reasonable effort to dispose of them at a\n reasonable price or the circumstances reasonably indicate\n that effort will be unavailing, (i) accrued and unpaid rent\n as of the date of entry of judgment in favor of the lessor,\n (ii) the present value as of the same date of the rent for\n the then remaining lease term of the lease agreement, and\n (iii) any incidental damages allowed under Section 2-A-530,\n less expenses saved in consequence of the lessee's default.\n (2) Except as provided in subsection (3), the lessor shall hold for\nthe lessee for the remaining lease term of the lease agreement any goods\nthat have been identified to the lease contract and are in the lessor's\ncontrol.\n (3) The lessor may dispose of the goods at any time before collection\nof the judgment for damages obtained pursuant to subsection (1). If the\ndisposition is before the end of the remaining lease term of the lease\nagreement, the lessor's recovery against the lessee for damages is\ngoverned by Section 2-A-527 or Section 2-A-528, and the lessor will\ncause an appropriate credit to be provided against a judgment for\ndamages to the extent that the amount of the judgment exceeds the\nrecovery available pursuant to Section 2-A-527 or Section 2-A-528.\n (4) Payment of the judgment for damages obtained pursuant to\nsubsection (1) entitles the lessee to the use and possession of the\ngoods not then disposed of for the remaining lease term of and in\naccordance with the lease agreement.\n (5) After default by the lessee under the lease contract of the type\ndescribed in Section 2-A-523 (1) or Section 2-A-523 (3)(a) or, if\nagreed, after other default by the lessee, a lessor who is held not\nentitled to rent under this section must nevertheless be awarded damages\nfor non-acceptance under Section 2-A-527 or 2-A-528.\n