The facts are not in dispute. By way of a lease dated May 15, 1983, defendant landlord entered into a 10-year commercial lease with GCE International, Inc. and GCE, Inc. (collectively GCE) for the seventh floor of the subject premises, located at 6 West 48th Street in the Borough of Manhattan in the City of New York. Paragraph 52 (B) of the lease states: "Provided Tenant is not in default under the terms of this lease beyond the expiration of any applicable grace period,...
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