Trial Necessary to Determine Whether Cotenancy Clause Constituted 'Liquidated Damages'

April 25, 2018
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Facts: A clothing retailer tenant signed a lease for space at a shopping center. The lease included cotenancy provisions that required the owner to lease space to three major tenants. If all three tenants were open and operating continuously, the retail tenant paid minimum rent. In the event that one or more of those tenants stopped operating, the retail tenant could pay reduced rent and it would be considered a breach of the lease. One of the tenants moved out of its space before the expiration of its lease.

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