St. Regis Restaurant v. Powers

This case involves the construction of a provision of a lease made by the Regal Shoe Company, the landlord’s assignor, to Foto Repro Company, the tenant’s assignor, which reads as follows: “ And the Tenant further covenants and agrees that it will pay any increase in the first insurance rates or premiums on said building or on the stock of the Landlord contained in the store occupied by it, or in the basement thereunder, which increase shall be caused by the character of the occupation of said premises by said Tenant; and in case the Tenant shall omit to pay such increase in insurance rates…