Holdover Rent at 200% Is the Cheap Part of Staying Past Expiration
Codiak BioSciences' lease at 4 Hartwell Place in Lexington makes a holdover out of failing to remove a cage washer, prices it at 150% of the highest Base Rent in the whole term, and at day 61 adds lost business and consequential damages. Nine filed documents read for this post agree on the multiple, 150% then 200%, and disagree completely on the tail behind it: PubMatic's landlord at 229 West 43rd Street can sue separately for the lease it could not deliver, First Industrial's two ADESA ground leases exclude consequential damages by name, CrowdStrike can buy ninety days of holdover at 125% if it gives notice twelve months out, and SSB Realty's lease at One Lincoln Street caps the landlord's damages for nine months and makes it stay the execution of its own possession order. One lease calls the charge liquidated damages, one says it is not liquidated damages, one calls it a penalty.