Arbitration Required for Offset Dispute

July 31, 2014
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 Facts: If at any time during the lease a shopping center owner was unable to meet a cotenancy requirement, its tenant was permitted to pay a reduced “substitute rent.” The lease also provided that all disputes arising under the lease and regarding amounts less than $50,000 were to be settled by arbitration; disputes exceeding $50,000 require mediation. However, if one of the parties refused to mediate, it could resort to litigation.

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