This matter involves a commercial net leasing arrangement between plaintiff-lessor Middlebury and defendant-lessee General Datacomm (GDC) that was subsequently amended to provide GDC a rent reduction in return for its issuance of warrants to purchase its common stock, pursuant to a separate warrant agreement. Specifically, the original lease, executed in 1984, provided for two forms of rent. The first was a scheduled rent, which initially consisted of a fixed amount but which...
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