150 Broadway N.Y. Associates, L.P. v. Shandell

In an action against former law firm partners seeking to recover the firm’s rent arrears and other charges from the individual partner guarantors, the motion court properly interpreted the guaranty’s provision for the release of withdrawing partners’ obligations. The guaranty’s requirement that the firm be “then current” in its payment of rent at the time of a guarantor’s withdrawal is not to be interpreted in a hypertechnical manner that is contrary to the purpose of the guaranty and would have the effect of broadening the guarantors’ obligations (see Lo-Ho LLC v Batista, 62 AD3d 558,…