Opinion
10-24-2017
HARVEST RIATA, LLC, Plaintiff–Appellant, v. WELLS FARGO BANK, N.A., etc., et al., Defendants–Respondents.
Lazer, Aptheker, Rosella & Yedid, P.C., Melville (Giuseppe Franzella of Counsel), for appellant. Alston & Bird LLP, New York (John P. Doherty of Counsel), for respondents.
Lazer, Aptheker, Rosella & Yedid, P.C., Melville (Giuseppe Franzella of Counsel), for appellant.
Alston & Bird LLP, New York (John P. Doherty of Counsel), for respondents.
The loan provision requiring plaintiff borrower to deposit and maintain a certain balance in a reserve rollover account is unambiguous in setting a minimum balance (see Greenfield v. Philles Records, 98 N.Y.2d 562, 569–570, 750 N.Y.S.2d 565, 780 N.E.2d 166 [2002] ). Plaintiff was thus barred from invading that minimum balance for disbursements for replacement tenant improvements and broker commissions when an anchor tenant's lease terminated and was not renewed.
RENWICK, J.P., KAPNICK, GESMER, and KERN, JJ., concur.