Business Services Industry
A lease means what it says
Real Estate Weekly, April 5, 2000 by Edward L. Schiff
The Court then considered the third issue which was the validity of the renewal notice. The Court was not prepared to decide the issue. Rather, Justice Lefkowitz directed the attorneys to provide memoranda of law on the issues of whether the option to renew is an independent right or is an integral part of the lease; and if it is an integral part of the lease, has the landlord waived its right to insist on compliance with all lease conditions with respect to the renewal clause; and whether the tenant must be in full compliance with all of the provisions of the lease before it can exercise its option to renew.
With respect to the tenant's clear violation of the lease, the Court set down the issue of damages for a hearing. At that time, it will be determined if the landlord was damaged, and if so, to what extent.
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