EAGLEHILL GENPAR LLC v. FPCG, LLC

655135/19. Appeal No. 12405. Case No. 2020-01801.

188 A.D.3d 527 (2020)

136 N.Y.S.3d 238

2020 NY Slip Op 06709

Eaglehill Genpar LLC et al., Respondents, v. FPCG, LLC, Doing Business as Focuspoint Private Capital Group, Appellant.

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

Decided November 17, 2020.


On or about June 13, 2016, Eaglehill and FPCG entered into a written letter agreement. Among other things, the Agreement discusses placement fees, and provides that future payments of the fees were subject to a "Reduction Clause." The Reduction Clause states that if there was a reduction in placement fees paid to Eaglehill, then "future installments of the [placement fees] due [to FPCG]" would be reduced dollar for dollar "for whom an [installment] is due to be paid on a...

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