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S FERRY BLDG v. SCHRODER CO

114 Misc.2d 1045 (1982)

South Ferry Building Company, Petitioner, v. J. Henry Schroder Bank & Trust Company, Respondent.

Civil Court of the City of New York, New York County.

July 29, 1982

Attorney(s) appearing for the Case

Paul, Weiss, Rifkind, Wharton & Garrison (Lewis A. Kaplan, Colleen McMahon, Gregory F. Hauser and Benedict Ginsberg of counsel), for petitioner. Spitzer & Feldman, P. C. (M. James Spitzer and Ronald J. Offenkrantz of counsel), for respondent.

DAVID B. SAXE, J.

Does a "pay now — fight later" clause that pertains to the payment of "operating expense escalation rent" in a commercial lease, mean what it says?

The essential facts are as follows: The petitioner in this nonpayment summary proceeding is South Ferry Building Company (South Ferry), the owner of a large commercial building at One State Street Plaza in downtown Manhattan. The respondent is South Ferry's largest tenant,...

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