42nd Street Dev. Corp. v. Actors & Directors Lab, Inc

In 42nd Street Dev. Corp. v. Actors & Directors Lab, Inc., NYLJ, May 9, 1989, at 21, col. 2 (App. Term, 1st Dept. 1989) the court held that the tenants were not entitled to exercise their renewal options because they were in default in the payment of rent and additional rent. The court further held: "The fact that landlord did not bring nonpayment proceedings or serve default notices (none were required for nonpayment of rent) during the term of the leases does not mean that landlord waived its right to reject [the] exercise of the options to renew upon the ground that the tenants were in arrears." Id.