Yellowstone injunctions are valuable tools for New York commercial lease tenants. When the landlord claims the tenant is in default of its lease and attempts to terminate the lease, an experienced NYC Yellowstone Injunction Lawyer can help the tenant then file for a yellowstone injunction. If the tenant ignores a notice to cure a default from the landlord, the lease will expire, and the landlord will evict the tenant as a “squatter” in a holdover proceeding. A yellowstone injunction tolls the period to cure the default and delays the eviction process. The retail tenant will have additional time to comply with the landlord’s demands and cure the purported default. Alternatively, the retail lease tenant will have the opportunity to persuade a judge that he is not in fact in default. Without it, the landlord could terminate the lease when the notice to cure expires and before the judge could make a determination as to the underlying merits of the dispute.
An NYC Yellowstone Injunction Lawyer can assist you if:
(1) The tenant has received either a notice of default, a notice to cure and has been threatened with termination of its lease; and
(2) the tenant does not believe it is in default but is prepared and able to remedy the condition that the landlord claims to be a default, if necessary.
Filing the yellowstone injunction and tolling the cure period is crucial for a commercial or retail lease tenant. A court will only approve an injunction before the notice to cure deadline passes. Once the notice to cure period has passed, and the landlord has terminated the lease, the court will not grant the injunction. Second, even if the commercial tenant is in fact in default and has breached the terms of its lease, the injunction will provide the tenant with more time to remedy the default. Curing the default may be as straightforward as executing an estoppel certificate, or it may be as time-consuming as installing a new exhaust system. Whatever the alleged default is, getting more time to cure the default and to negotiate with the landlord is vital. Given that time is of the essence in these proceedings, the retail lease tenant must hire an experienced attorney to act promptly.