2006 New York Code - Lessee Under Finance Lease As Beneficiary Of Supply Contract.

 
  Section 2-A-209. Lessee  Under  Finance  Lease  as Beneficiary of Supply
                     Contract.
    (1) The benefit of a supplier's  promises  to  the  lessor  under  the
  supply  contract  and  of  all  warranties,  whether express or implied,
  including those of any third party provided in  connection  with  or  as
  part  of the supply contract, extends to the lessee to the extent of the
  lessee's leasehold interest under a finance lease related to the  supply
  contract,  but is subject to the terms of the warranty and of the supply
  contract and all defenses or claims arising therefrom.
    (2) The extension of the benefit  of  a  supplier's  promises  and  of
  warranties  to  the lessee under subsection (1) does not: (i) modify the
  rights and obligations of the parties to the  supply  contract,  whether
  arising  therefrom  or  otherwise,  or (ii) impose any duty or liability
  under the supply contract on the lessee.
    (3) Any modification or rescission  of  the  supply  contract  by  the
  supplier  and  lessor  is  effective between the supplier and the lessee
  unless, before the modification or rescission, the supplier has received
  notice that the lessee has entered into a finance lease related  to  the
  supply  contract. If the modification or rescission is effective between
  the supplier and the lessee, the lessor is deemed to  have  assumed,  in
  addition  to the obligations of the lessor to the lessee under the lease
  contract, promises of the supplier to the  lessor  and  warranties  that
  were  so modified or rescinded as they existed and were available to the
  lessee before modification or rescission.
    (4) In addition to the extension of  the  benefit  of  the  supplier's
  promises  and  of  warranties  to  the  lessee under subsection (1), the
  lessee retains all rights which the lessee may have against the supplier
  that arise from any agreement between the lessee and supplier  or  under
  other law.