2006 New York Code - Lessor\'s Action For The Rent.

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