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HELLER FIN., INC. v. 400 MADISON AVE. LTD. P'SHIP

238 A.D.2d 198 (1997)

656 N.Y.S.2d 727

Heller Financial, Inc., Respondent, v. 400 Madison Avenue Limited Partnership et al., Appellants, et al., Defendant

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

April 15, 1997

The loan agreement gave plaintiff the right to "determine in its total and complete discretion the accuracy of Borrower's computation" of Net Cash Flow, which, by definition, includes permitted deductions. An agreement including such unfettered discretion is enforceable (see, Bank Leumi Trust Co. v D'Evori Intl., 163 A.D.2d 26, 30). In any event, the record shows that the legal expenses and the payments to entities related...

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