(1) If without fault of the lessee, the lessor and the supplier, the agreed berthing, loading, or unloading facilities fail or the agreed type of carrier becomes unavailable or the agreed manner of delivery otherwise becomes commercially impracticable, but a commercially reasonable substitute is available, the substitute performance must be tendered and accepted. (2) If the agreed means or manner of payment fails because of domestic or foreign governmental regulation: (a) the lessor may withhold or stop delivery or cause the supplier to withhold or stop delivery unless the lessee provides a means or manner of payment that is commercially a substantial equivalent; and (b) if delivery has already been taken, payment by the means or in the manner provided by the regulation discharges the lessee’s obligation unless the regulation is discriminatory, oppressive, or predatory.

This legal document, part of the New Hampshire Revised Statutes under the Uniform Commercial Code, specifically Chapter 382-A, governs the concept of excused performance in lease contracts. According to the document, if a lessor or supplier is unable to deliver or delays delivery due to a contingency that was not anticipated when the lease contract was made, or due to compliance with valid governmental regulations or orders, it will not be considered a default under the lease contract.

This legal provision, found in the New Hampshire Revised Statutes under the Uniform Commercial Code (Chapter 382-A), governs the procedure for excused performance in lease contracts. It applies to lessees and lessors involved in lease contracts. If the lessee receives notification of a material or indefinite delay or an allocation justified under Section 2A-405, they have the option to terminate the lease contract or modify it by accepting the available quota in substitution.

(1) In the case of a finance lease that is not a consumer lease the lessee’s promises under the lease contract become irrevocable and independent upon the lessee’s acceptance of the goods. (2) A promise that has become irrevocable and independent under subsection (1): (a) is effective and enforceable between the parties, and by or against third parties including assignees of the parties; and (b) is not subject to cancellation, termination, modification, repudiation, excuse, or substitution without the consent of the party to whom the promise runs.

This legal document, part of the New Hampshire Revised Statutes, falls under the Uniform Commercial Code (Chapter 382-A). It governs lease contracts and determines default conditions for lessors and lessees. The document states that default is determined by the lease agreement and this Article. If either party is in default, the party seeking enforcement has rights and remedies as provided in this Article and the lease agreement. The party seeking enforcement may pursue various procedures, including self-help, judicial or nonjudicial procedures, arbitration, or administrative proceedings.

Except as otherwise provided in this Article or the lease agreement, the lessor or lessee in default under the lease contract is not entitled to notice of default or notice of enforcement from the other party to the lease agreement. Source. 1993, 345:1, eff. Jan. 1, 1994.

This provision, found in the New Hampshire Revised Statutes under the Uniform Commercial Code (Chapter 382-A), pertains to the modification or impairment of rights and remedies in lease agreements. The lease agreement may include additional or alternative rights and remedies for default, and may limit or alter the measure of damages recoverable under the Uniform Commercial Code. Resorting to a remedy provided in the lease agreement or under the Uniform Commercial Code is optional, unless the remedy is expressly agreed to be exclusive.

This legal document, part of the New Hampshire Revised Statutes under the Uniform Commercial Code, governs the liquidation of damages in lease agreements. It states that damages payable by either party for default or any other act or omission may be liquidated in the lease agreement, but only at an amount or by a formula that is reasonable in light of the anticipated harm caused by the default or act. If the lease agreement provides for liquidation of damages that do not comply with the reasonableness requirement or fail of their essential purpose, alternative remedies may be sought.

This legal document, part of the New Hampshire Revised Statutes under the Uniform Commercial Code, governs the cancellation and termination of lease contracts and the effect of such actions on rights and remedies. According to the document, upon cancellation of the lease contract, any remaining obligations on both sides are discharged, but rights based on prior default or performance still survive. The cancelling party also retains any remedy for default or unperformed balance.

The provided legal document pertains to the statute of limitations for actions related to default under a lease contract, breach of warranty, or indemnity. According to the document, an action for default under a lease contract must be commenced within 4 years after the cause of action accrued, unless the parties have agreed to reduce the period of limitation to not less than one year. The cause of action for default accrues when the act or omission on which the default or breach of warranty is based is or should have been discovered by the aggrieved party, or when the default occurs, whichever is later.