This decision involved a commercial landlord-tenant dispute. The plaintiff owner of the subject building had moved for summary judgment to dismiss the affirmative defenses of co-defendants “A” and “B,” as well as for summary judgment on its claims.

Tenant “A” had executed a 14-year commercial lease which ran until September 30, 2023. The lease contained an “acceleration clause” which could be triggered if the tenant intended to “vacate and/or abandoned the premises….” “B,” a principal of “A,” had executed a guarantee on behalf of “A.” The guaranty provided, inter alia, that it is “absolute and unconditional,” and it is a guaranty of “payment and not of collection.”

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