S. ST. LTD. P'SHIP v. JADE SEA REST., INC.


187 A.D.2d 396 (1992)

South Street Limited Partnership, Respondent, v. Jade Sea Restaurant, Inc., Doing Business as Jade Sea, et al., Appellants

Appellate Division of the Supreme Court of the State of New York, First Department.

November 24, 1992


The plain language of Paragraph 3 of the third amendment to the lease dated March 27, 1991 clearly gave plaintiff the option to terminate the lease in the event defendant's gross sales for the calendar year 1990 did not exceed $2 million. Defendant was also required to timely submit a certified statement of such sales, but failed to do so as its sales fell below the $2 million figure. Where, as here, the terms of a written agreement...

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