It is clear that the principal contract with the Schine Enterprises, of which the McAllister Hotel was an integral part, foundered and thus the defendant had reason for not making payment of liquidated damages to the plaintiff at this time. Paragraph 27 of the agreement in suit permits a deferral of such payment until a "dispute" or "litigation" between Schine and the defendant has been concluded and a judicial determination made as to whether defendant was in default vis...
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