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TEACHERS INS. & ANNUITY v. COAXIAL COMMUNICATIONS

No. 88 Civ. 1073 (VLB).

807 F.Supp. 1155 (1992)

TEACHERS INSURANCE AND ANNUITY ASSOCIATION OF AMERICA, Plaintiff, v. COAXIAL COMMUNICATIONS OF CENTRAL OHIO, INC., Defendant.

United States District Court, S.D. New York.

December 8, 1992.

Attorney(s) appearing for the Case

Sheldon Oliensis, Aaron Stiefel, Kaye, Scholer, Fierman, Hays & Handler, New York City, for plaintiff.

David N. Ellenhorn, Roanne L. Mann, Stein, Zauderer, Ellenhorn, Frischer & Sharp, New York City, for defendant.

MEMORANDUM ORDER

VINCENT L. BRODERICK, District Judge.

I

This case involves alleged breach by defendant ("Coaxial") of a commitment letter binding it to borrow and plaintiff ("TIAA") to lend $55 million to three related entities for ten years at 11.44% interest. As described below, both parties sought changes in several of the key provisions of the commitment letter. The key question in this litigation was which party (if not both) was responsible...

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