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CHURCHILL REAL ESTATE HOLDINGS LLC v. CBCS WASH. ST. LP

8867, 655257/17.

171 A.D.3d 426 (2019)

95 N.Y.S.3d 526

2019 NY Slip Op 02472

Churchill Real Estate Holdings LLC, Appellant, v. CBCS Washington Street LP et al., Respondents.

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

Decided April 2, 2019.

While the parties were not obligated to enter into a loan, the "Break-Up Fee" and "Miscellaneous" provisions of their agreement, which obligated defendant lenders to pay a termination fee, costs, and legal fees, even if no loan closed, were expressly made binding, and therefore must be given force (see Beal Sav. Bank v Sommer, 8 N.Y.3d 318, 324-325 [2007]).

Contrary to defendants...

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