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IN RE PENN CENTRAL TRANSPORTATION COMPANY

No. 70-347.

391 F.Supp. 1404 (1975)

In the Matter of PENN CENTRAL TRANSPORTATION COMPANY, Debtor. In re WESTVACO BUILDING RENTAL DISPUTES.

United States District Court, E. D. Pennsylvania.

March 27, 1975.

Attorney(s) appearing for the Case

Marvin Comisky, Blank, Rome, Klaus & Comisky, Philadelphia, Pa., for Penn Central Trans. Co.

Robert W. Sayre, Saul Ewing, Remick & Saul, Philadelphia, Pa., for Fisher-Park Lane Co.

MEMORANDUM AND ORDER NO. 1824

FULLAM, District Judge.

In 1965, the Debtor leased to Fisher-Park Lane Company the land upon which the latter then erected a 42-story office building, known as the Westvaco Building, in the City of New York. Under the terms of the lease, the rent payable to the Debtor is computed by aggregating various factors including (1) a "percentage rent" equal to 50% of the amount by which the gross income in any one year exceeds $5,759...

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