2006 New York Code - Cover; Substitute Goods.

 
  Section 2-A-518. Cover; Substitute Goods.
    (1)  After  a default by a lessor under the lease contract of the type
  described in Section 2-A-508(1) 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.
    (2) Except as otherwise provided with respect to damages liquidated in
  the  lease  agreement (Section 2-A-504) or otherwise determined pursuant
  to agreement of the  parties  (Sections  1-102(3)  and  2-A-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 (a) 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
  which  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
  (b) any incidental or consequential  damages,  less  expenses  saved  in
  consequence of the lessor's default.
    (3)  If  the  lessee's  cover is by lease agreement that qualifies for
  treatment under subsection (2), the lessee may elect  to  proceed  under
  subsection  (2)  or  Section  2-A-519.  If  a lessee's cover is by lease
  agreement that for any reason  does  not  qualify  for  treatment  under
  subsection  (2),  or is by purchase or otherwise, the lessee may recover
  from the lessor as if the lessee had elected not to cover.