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Home / Opinion Digests / Bank can’t compel rents under single lease (access required)

Bank can’t compel rents under single lease (access required)

The holder of a $846 million commercial mortgage-backed securities loan that was made to 24 landlords of Lord & Taylor failed to compel the debtors to pay all rents and sums directly to the trust. The trust was not a third-party beneficiary of the master lease, did not obtain rights under the UCC and did ...