Plaintiff's predecessor leased premises located at 336-344 Broadway to defendant pursuant to a lease dated July 29, 1983, which granted plaintiff an option to cancel on 120 days' notice in exchange for a cancellation fee, calculated as the sum of (A) the lesser of $1,000,000 or defendant's net profits for the 24-month period ending one month prior to the cancellation date plus (B) the unamortized cost of improvements made by defendant (Additional Cancellation Amount).
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