Nevada § 104A.2518 - Cover; substitute goods

§ 104A.2518. Cover; substitute goods

1. After default by a lessor under a lease contract of the type described in subsection

1 of NRS 104A.2508 , 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

( NRS 104A.2504 ) or otherwise determined pursuant to agreement of the parties ( NRS 104.1302 and 104A.2503 ), if a lessee's cover is by lease agreement substantially similar to the original

lease agreement and the 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 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 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 and NRS 104A.2519 governs.