§490:2A-402 Anticipatory repudiation.
If either party repudiates a lease contract with respect to a performance not
yet due under the lease contract, the loss of which performance will
substantially impair the value of the lease contract to the other, the
aggrieved party may:
(1) For a commercially reasonable time, await
retraction of repudiation and performance by the repudiating party;
(2) Make demand pursuant to section 490:2A-401 and
await assurance of future performance adequate under the circumstances of the
particular case; or
(3) Resort to any right or remedy upon default under
the lease contract or this article, even though the aggrieved party has
notified the repudiating party that the aggrieved party would await the
repudiating party's performance and assurance and has urged retraction. In
addition, whether or not the aggrieved party is pursuing one of the foregoing
remedies, the aggrieved party may suspend performance or, if the aggrieved
party is the lessor, proceed in accordance with the provisions of this article
on the lessor's right to identify goods to the lease contract notwithstanding
default or to salvage unfinished goods (section 490:2A-524). [L 1991, c 40, pt
of §1]