Transit Funding Associates, LLC v. Capital One Equipment Finance Corp.
Appellate Division of the Supreme Court of the State of New York
1Opinion of the Court
OPINION OF THE COURT
Saxe, J.
This appeal requires us to consider whether a loan agreement that gives the lender broad authority to deny “any” funding requests “in its sole and absolute discretion” and allows the lender to condition its approval “for any . . . reason” can be violated, or the covenant of good faith breached, by the lender’s rejection during the term of the contract of all further funding requests, for its own business reasons. We conclude that the contract’s language precludes holding the lender liable on either theory.
Plaintiff Transit Funding Associates, LLC (TFA), a financing…
2Cases cited8 opinions
- 511 West 232nd Owners Corp. v. Jennifer Realty Co.New York Court of Appeals · 2002
- National Westminster Bank, U.S.A. v. RossDistrict Court, S.D. New York · 1991
- Moran v. ErkNew York Court of Appeals · 2008
- 767 Third Avenue LLC v. Greble & Finger, LLPAppellate Division of the Supreme Court of the State of New York · 2004
- ELBT Realty, LLC v. Mineola Garden City Co., Ltd.Appellate Division of the Supreme Court of the State of New York · 2016
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