AMB Property, L.P. v. MTS, Inc.

Miller, Judge.

This case concerns the construction of a lease’s renewal provisions. The renewal provisions set the new rental rate as the greater of (1) the base rent for the last year of the original term or (2) the then existing market rental rate for comparable shopping centers. The trial court and all parties agree that under Georgia law, the market rental rate for comparable properties is unenforceably vague and indefinite, as it provides no mode by which a definite price may be ascertained. The question on appeal is whether, because of the lease’s severability clause, a court can excise…