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2016 NY Slip Op 26250

Citation
2016 NY Slip Op 26250
Jurisdiction
New York (state)
Source verification
cross_accepted_sealed

Full Text

1,775 chars
"This Sublease is subject to NYC Consent. Promptly after this Sublease is executed by Royal and delivered to Urban, Urban shall deliver written application to NYC to obtain NYC Consent and submit all documents requested by NYC to obtain NYC Consent. Royal agrees to cooperate and submit such documents as may be requested by NYC. If NYC Consent is not received within five (5) months of [Royal's] delivery of the executed Sublease to Urban (said five-month term being coterminous with the five-month term in Article 4.3), Royal has the right, in its sole and absolute discretion, to terminate this Sublease and retain the Security Deposit as a fee for Royal having refrained from offering the Premises for [*3]sublease to another party and having not received any rent during the five (5) month period. If this Sublease is terminated as provided for herein, Royal shall return the original Guaranty to [Abitbol] and neither party shall have any further rights as against the other under the Sublease or Guaranty.

"2. Except as provided for in this Rider, the Sublease remains unmodified and in full force and effect." (See id. at 35 [emphasis added].)

Urban immediately reached out to the City to procure consent. The City, however, refused to discuss the matter with anyone other than its lessee, Royal. On June 8, 2015, Patrick Thrasher, an assistant vice-president at the New York City Economic Development Corporation (EDC), advised Urban's architect that EDC would only communicate with Royal. By letter dated June 12, 2015, Thrasher wrote to David Herzog, the CEO and president of Royal:

"[EDC], as Lease Administrator of the [Premises], writes in regard to the Lease Agreement ('Lease') for the Premises, dated as of July 1, 1999, as amended.{**53 Misc 3d at 452}