2015 NY Slip Op 50089

Citation: 2015 NY Slip Op 50089
Jurisdiction: New York (state)
Source: Official source
Original Source: https://www.nycourts.gov/reporter/3dseries/2015/2015_50089.htm ↗

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arithmetically accurate and supported by general commercial real estate practices in
NYC. The Petitioners are hence entitled to establish the fixed rent based on increases that
occurred prior to the application of the statute of limitations.

When comparing the total amount paid in Petitioner's Exhibit "7" and the
Respondent's calculations under Respondent's "A", the Court finds that the parties are in
agreement as to the amount that was paid by the Respondent Corporation
notwithstanding their underlying dispute about the method and manner of the rent
calculation. The monthly rent with the CPI increase minus the amount that was paid and
monthly delinquency amounts are also accurate. Petitioner's Exhibit "7" substantiates that
the total rent delinquency amount is $249,404.97 and the Court finds this amount due
and owing by the Respondent.

IMPOSITION OF LATE
FEES AND INTEREST

Practically every commercial lease
contains provisions for late fees, legal fees and liquidated damages that are intended to
ensure timely rent payments and compliance with the terms and conditions of the lease.
Since there is no statutory right to these kinds of fees, the tenant's liability for such fees
must be contained in the lease agreement. With regard to late charges, they are typically
in the form of a flat fee or interest at a rate determined by the landowner for
noncompliance with the agreement.

Under both the Uniform Commercial Code ("UCC") and common law, a
myriad of commercial and residential cases reveal the necessity of the judiciary to
determine the enforceability of such clauses. A history of the case authority illustrates
that the primary question of fact for judicial review is whether such clauses are a